Volkswagen said on Friday that it expects supply chain issues to ease and sales to rise to as much as 331 billion euros ($352 billion) in 2023, sending shares in Europe's top carmaker to their highest level in three and a half months.
The logo of carmaker Volkswagen Commercial Vehicles is pictured at the IAA Transportation fair, which will open its doors to the public on September 20, 2022, in Hanover, Germany, September 19, 2022. REUTERS/Fabian Bimmer/File PhotoShares hit highest level in 3.5 monthssaid on Friday that it expects supply chain issues to ease and sales to rise to as much as 331 billion euros in 2023, sending shares in Europe's top carmaker to their highest level in three and a half months.
"Our performance last year demonstrated the improved resilience of the Volkswagen Group amid a challenging global backdrop," Chief Financial Officer Arno Antlitz said. "We expect the supply chain bottlenecks to gradually ease in the current year, allowing us to service the high order backlog." The comments reflect growing optimism of an industry slowly emerging from a global shortage of chips as well as supply chain problems also caused by the COVID-19 pandemic, with peers
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