Volkswagen Group , which owns Audi and Porsche, has secured a sufficient supply of chips for now, its CEO told a German weekly, as a Chinese export ban on finished products by semiconductor maker Nexperia has European carmakers scrambling for supplies.
Slow electric-vehicle rollout, weak demand for German premium cars in China and U.S. President Trump's tariffs have taken a toll on the sport-car maker.
Porsche swung to a wider-than-expected operating loss in the third quarter, it said on Friday, plunging the German sports car maker deeper into crisis as it changes course on electric vehicles and battles to stem sinking sales in top market China.
Volkswagen said on Friday that production at its German sites is secured for the coming week but short-term impacts remain possible as the carmaker works to shield its supply chains from a dispute over Dutch chipmaker Nexperia.
Porsche's outgoing CEO Oliver Blume has one more quarterly report to deliver on Friday before his decade-long tenure comes to an end. It won't make for pretty reading.
Production at Volkswagen's main plant will proceed as planned next work week despite the risk of microchip shortages from a China-Netherlands stand-off over car industry contractor Nexperia, a person familiar with the matter told Reuters on Thursday.
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