VOW3 Volkswagen AG

   By Kim Richters 
 

Traton SE said Wednesday that shortages of semiconductors and other parts are hitting sales in the third quarter and are expected to continue into the next year.

Volkswagen AG's truck maker said vehicle sales in the current quarter will be significantly lower than planned due to the shortages, which it expects to continue into and beyond the fourth quarter. All of its brands, including recently acquired Navistar, are affected, it said.

While a recent rise in coronavirus cases in Malaysia and a related lockdown intensifies the supply shortage of semiconductors that is affecting the automotive industry, other vehicle parts are also affected by shortages, said Traton.

"We have ramped up existing measures in order to mitigate the supply bottlenecks as much as possible," said Chief Executive Matthias Gruendler, adding that demand for trucks is high.

Traton plans to publish nine-month results on Oct. 28.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

September 22, 2021 02:49 ET (06:49 GMT)

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