Volkswagen CFO Arno Antlitz said the car maker expects ‘supply chain bottlenecks to gradually ease in the current year, allowing us to service the high order backlog’
Volkswagen said on Friday that it expects supply chain issues to ease and sales to rise to as much as €331-billion in 2023, sending shares in Europe’s top car maker 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. 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 Stellantis and Renault, too, releasing upbeat views for 2023 in recent weeks.
Volkswagen, which last year listed Porsche AG in a landmark listing, forecast sales to grow by 10 per cent to 15 per cent, indicating 2023 revenues of €307-billion to €331-billion, significantly higher than the 280 billion Refinitiv estimate.
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