"Semiconductor supply difficulties remain the dominant and decisive issue for our sales performance," he said in a speech following second-quarter results.

"Our EBIT margin in the Automotive Segment should stay within the range of seven to nine percent. The crucial factor will be how the supply situation develops - not just for semiconductors, but also energy supplies in Europe."

The company was also actively preparing for a potential shortage of gas, evaluating whether it could make up the electricity from gas-powered plants by purchasing external power, Zipse said.

(Reporting by Victoria Waldersee, editing by Rachel More)