Volkswagen Says Profits Hit By Chip Shortage In Q3

Volkswagen says profits hit by chip shortage in Q3

Frankfurt, (UrduPoint / Pakistan Point News - 28th Oct, 2021 ) :German car giant Volkswagen said Thursday that the worldwide shortage of computer chips hit earnings in the third quarter of 2021, pushing operating profit down by 12 percent.

"The global semiconductor bottlenecks particularly impacted on the business performance of the Volkswagen group in the third quarter," the carmaker said in a statement.

"Operating profit before special items came to 2.8 billion Euros ($3.2 billion) in the period from July to September, a drop compared with the first two quarters of this year and the pandemic-related weak prior-year period."