Volkswagen Sales Fall to 11-Year Low After Chip Shortages Crimp Output
- Deliveries during 2022 drop to 11-year low on supply snags
- High order banks make VW confident for 2023 amid slowdown
Electric-car deliveries accounted for 6.9% of VW’s total.
Photographer: Liesa Johannssen-Koppitz/BloombergThis article is for subscribers only.
Volkswagen AG expects easing supply bottlenecks and existing orders to boost sales this year even as shortages of semiconductors in 2022 led deliveries to an 11-year low.
Group sales fell 7% to 8.3 million vehicles after supply constraints saw factories grind to a halt, Europe’s biggest carmaker said Thursday. Volkswagen pointed to a high order bank of 1.8 million vehicles in Western Europe that will help offset a sputtering global economy.