Volkswagen Profits Rise Despite Semiconductor Crunch
Mohammad Ali (@ChaudhryMAli88) Published May 06, 2021 | 11:00 AM
Frankfurt, May 6 (UrduPoint / Pakistan Point News - 6th May, 2021 ) :German carmaker Volkswagen reported a jump in first-quarter profits Thursday thanks to a strong recovery in demand, but said it expected an industry-wide shortage in semiconductors to have a "more significant impact" in the second quarter.
The 12-brand group, which includes Porsche, Skoda and Audi, reported after-tax profits of 3.4 billion Euros ($4.0 billion), up from 517 million euros over the January-March period in 2020 when the first wave of the pandemic closed showrooms and production lines.
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