VW: chip shortage now at worst, will ease in Q3

Volkswagen says the global chip shortage is now at its worst point.

That's according to Germany's Handelsblatt.

A board member told the paper the company was facing the "toughest six weeks".

It then thinks the supply crunch will ease off in the third quarter.

VW is reportedly expecting a shortfall in chip supplies of about 10% over the longer term, as it takes a couple of years to ramp up supply.

It's preparing for the bottlenecks by expanding storage of chips, and assessing the risk to each of its models.

Chief Executive Herbert Diess said in March that the firm had been unable to build 100,000 cars due to the shortage.

He said it would be unable to make up the shortfall over this year.

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