Traton Warns Supply Shortages Will Hit 3Q Vehicle Sales
September 22 2021 - 3:04AM
Dow Jones News
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)
Copyright (c) 2021 Dow Jones & Company, Inc.
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