Volkswagen Warns On Persistent Semiconductor Supply Bottlenecks In 2023

Volkswagen AG VWAGY reported a 6.8% decline in sales of its brand to 4.56 million vehicles in 2022, reflecting the strained supply situation.
The share of SUVs in total deliveries rose to 45%.
In the U.S., over 80% of Volkswagen's deliveries were in the SUV segment, and in Europe, T-Roc was the best-selling vehicle in the SUV market.
At around 330,000 units, worldwide deliveries of all-electric vehicles (Battery Electric Vehicles - BEVs) grew 23.6%.
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Volkswagen expects 2023 to be another volatile and challenging year due to persistent semiconductor supply bottlenecks.
The company nevertheless anticipates a gradual improvement in the supply situation, with production stabilizing as the year progresses.
"We are doing our utmost to reduce delivery times for our customers still further and to lower the high order backlog as quickly as possible," said Imelda Labbé, Volkswagen Board Member for Sales, Marketing and After Sales.
Price Action: VWAGY shares are trading lower by 0.12% at $17.13 on the last check Tuesday.
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