- German carmaker BMW or Bayerische Motoren Werke AG BMWYY Chief Executive Officer Oliver Zipse said the semiconductor shortage will continue into 2023, Reuters reported.
- In an interview with the newspaper Neue Zuercher Zeitung (NZZ), the CEO said, "I expect us to start seeing improvements at the latest next year, but we will still have to deal with a fundamental shortage in 2023."
- The report noted Zipse's comment is the latest after Volkswagen's financial head Arno Antlitz said he expected the chip supply and demand deficit to extend until 2024.
- In its annual press briefing, BMW had warned of supply chain constraints to last throughout 2022.
- Price Action: BMWYY shares closed 0.18% lower at $27.76 on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
