Volkswagen Expects Growth Amid Chip Shortage

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June 24, 2021— The global semiconductor shortage that is hitting carmakers will not impact Volkswagen's profit 2021 forecast, Reuters reported. 

Volkswagen still expects to achieve a 2021 operating profit margin between 5.5 percent and 7 percent for the group and a margin of 3 to 4 percent for its main brand, the manufacturer said Tuesday. 

"Fortunately, we have been able to notably limit the negative impact on our customers and thus on delivery figures so far, for example by selling off inventories and other measures," a company spokesperson told Reuters.

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