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Volkswagen sees Q2 margin within guidance despite obstacles

Volkswagen sees Q2 margin within guidance despite obstacles
Volkswagen sees Q2 margin within guidance despite obstacles   -   Copyright  Thomson Reuters 2022
By Reuters

FRANKFURT – Volkswagen expects a second-quarter profit margin “well within” its 7.0%-8.5% target range for 2022 despite ongoing chip and wire harness shortages as well as higher raw materials prices, finance chief Arno Antlitz said on Tuesday.

In the first three months of the year, Volkswagen’s profit margin stood at 13.3%.