Volkswagen saw its profits surge higher despite selling fewer cars due to semiconductor shortages
Volkswagen noticed its earnings surge larger regardless of promoting fewer vehicles because of semiconductor shortages.

Volkswagen stated Friday its web earnings jumped final 12 months regardless of promoting fewer vehicles because of the semiconductor scarcity as patrons forked out for better-equipped vehicles.

The German automaker’s web revenue rose 75 % to fifteen.4 billion euros ($16.8 billion) in 2021.

The 12-brand group offered 8.6 million vehicles final 12 months, 600,000 fewer than in 2020 and a couple of.4 million beneath 2019 ranges.

Nevertheless, gross sales income rose 12 % partly because of “beneficial pricing” and lowered prices.

The world’s second-largest automotive group expects gross sales volumes to rise by 5 to 10 % in 2022 regardless of the persevering with affect of chip shortages, it stated.

This prediction “is topic to the additional improvement of the warfare in Ukraine and specifically the affect on the group’s provide chains and the worldwide economic system as a complete,” VW stated in an announcement.

Revenues are anticipated to rise between 8 and 13 % in 2022, with working return on gross sales to succeed in between 7 and eight.5 %—in contrast with 7.7 % in 2021 and 4.3 % in 2020.

In 2021, “prospects have been ready to purchase better-equipped vehicles” and “premium manufacturers fared barely higher” than inexpensive “quantity” manufacturers, VW’s monetary director Arno Antlitz informed a web-based convention.

As well as, Volkswagen was capable of give fewer reductions and focus its semiconductor sourcing on Europe on the expense of different much less worthwhile areas, Antlitz stated.

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© 2022 AFP

Volkswagen earnings surge regardless of promoting fewer vehicles (2022, March 11)
retrieved 11 March 2022

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