Volkswagen says China car sales, production hit by chip supply shortage

© Reuters.

BEIJING (Reuters) – German automaker Volkswagen (DE:) AG lost sales of tens of thousands of cars in China as a global chip supply shortage impacted its production in December, the head of its China operations, Stephan Wollenstein, said on Wednesday.

Volkswagen is the biggest foreign automaker in China, the world’s biggest car market.

Global automakers including Ford Motor (NYSE:) Co, Toyota Motor Corp and Nissan Motor Co Ltd have said they would cut vehicle production this month due to a shortage of semiconductors.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


READ  Why I think the ITV share price could be the buy of the decade


Please enter your comment!
Please enter your name here