FRANKFURT — Volkswagen Group lifted its earnings outlook immediately after potent income at its Audi and Porsche models assisted to limit the fallout from the world-wide chip shortage, which compelled the automaker to cut expectations for deliveries this yr.
VW expects altered running return on gross sales to increase to in between 6 percent to 7.5 %, elevating its outlook for a second time this yr. Earlier advice was 5.5 % to 7 percent.
Semiconductor shortages will be a lot more serious during the 2nd 50 %, VW mentioned. The automaker also highlighted challenges from volatile commodity selling prices.