Volkswagen has warned top managers to brace for a bigger production hit in the second quarter than the first because of the global chip shortage, according to the head of the company’s Seat brand.
“We are being told from the suppliers and within the Volkswagen Group that we need to face considerable challenges in the second quarter, probably more challenging than the first quarter,” Wayne Griffiths, president of VW’s Spanish brand, told the Financial Times.
The warning raises the possibility of higher losses for the world’s second-largest carmaker, which said last year it expected production output to fall by 100,000 vehicles in the first quarter of 2021 because of semiconductor shortages.
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