IC shortages to last till 2024 says VW CFO

Author: EIS Release Date: Apr 20, 2022

The chip shortage is unlikely to completely resolved until 2024, VW CFO Arno Antlitz told Boersen-Zeitung at the weekend.

 

“The structural undersupply will likely only resolve itself in 2024,” Antlitz said.

 

Some bottlenecks will ease towards the end of this year, said Antlitz, but production won’t return to 2019 levels until 2023.

 

Consequently demand will exceed supply this year and next.

 

A lack of wire harnesses from Ukraine continues to cause some shifts to be cancelled, said Antlitz.