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4/24, 1:48 PM (Source: TeleTrader)
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VW expects production halts over chip shortage

Volkswagen Group has issued a warning to top company executives to expect a big production hit in the year's second quarter as a result of global chip shortages, the Financial Times reported on Saturday.

Speaking to the paper, the president of Seat, Volkswagen's Spanish brand, Wayne Griffiths stated that they were told by suppliers and others within the Group that there will be "considerable challenges in the second quarter, probably more challenging than the first quarter." He further added that when it comes to production they will have to "build when we get [chips] available."

Volkswagen is the latest car manufacturer to talk about production issues amid the global chip shortage, with Jaguar, General Motors, and Subaru already announcing they have cut their production capacities.

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