Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Germany
  4. Xetra
  5. Volkswagen AG
  6. News
  7. Summary
    VOW3   DE0007664039

VOLKSWAGEN AG

(VOW3)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Volkswagen : GM looking at longer-term supply contracts and partnerships for chips -CFO

06/16/2021 | 03:09pm EDT
FILE PHOTO: Logo of GM atop the company headquarters

DETROIT, June 16 (Reuters) - General Motors Co is looking at signing longer-term supply contracts or partnering with chip and wafer suppliers in the future to mitigate the impact it has seen from the global semiconductor shortage, the automaker's chief financial officer said on Wednesday.

"Whether we work with foundries to give longer-term commitments or we look to partnering with folks, we're looking at all aspects of the supply chain to really ensure that something of this magnitude as it relates to chips doesn't happen again," Paul Jacobson said at a Deutsche Bank conference.

The global chip shortage has forced GM and other automakers to idle plants, but the Detroit company has been able to largely protect output of its highest-profit models. GM has said the shortage could shave $1.5 billion to $2 billion from this year's profit, but recently restarted production at some plants that had been idled.

The shortage will cost global automakers $110 billion in lost revenues this year, and cut production by 3.9 million vehicles, consulting firm AlixPartners has said.

While GM expects the situation to improve in the second half, issues like the COVID outbreak in Malaysia are still hitting the chip industry, Jacobson said.

"As long as that continues, we're losing some production there from some key chip providers," he said. "It's things like that that really make this a week-to-week phenomenon." He added GM has resorted to using air freight to ship chips.

Nevertheless, Jacobson said consumer demand for vehicles remains strong, which should continue into the fourth quarter at least. He added that lean vehicle inventories will last well into 2022 if demand remains high and chip supplies remain tight.

The chip shortage has led automakers to rethink how their supply chain works when it comes to critical parts like chips.

Germany's Volkswagen AG said it is talking with chip makers about securing supplies over the long term, and one unnamed executive previously told Reuters the automaker is weighing buying directly from the manufacturers rather than working through others.

Ford Motor Co Chief Executive Jim Farley said last month the No. 2 U.S. automaker is redesigning parts to use more accessible chips and weighing other strategies, including building a buffer supply of chips or working directly with the foundries that make the wafers used in semiconductors. (Reporting by Ben Klayman Editing by Chris Reese and Nick Zieminski)


ę Reuters 2021
All news about VOLKSWAGEN AG
08/02LUCID : Qatar sovereign fund discloses 4.69% stake in Quantumscape Corp
RE
08/02VOLKSWAGEN VORZÜGE : Jefferies reaffirms its Buy rating
MD
08/02SENSATION ALMOST SUCCESSFUL : Audi drives from 54th place to second place at the..
AQ
08/02HOLIDAY GREETINGS DIRECTLY FROM THE : Thanks for "sensational first half of the..
PU
08/02SUCCESSFUL FIRST HALF-YEAR FOR AUDI : record deliveries and strong profits
AQ
08/02India to postpone 2022 car show due to COVID-19 uncertainty
RE
08/02VOLKSWAGEN VORZÜGE : JP Morgan reiterates its Buy rating
MD
08/01Rio Tinto readies to ship trial lithium plant to Serbia
RE
07/30VOLKSWAGEN : Top Brands Prepare For Q3 Chip Shortage
MT
07/30Volkswagen's top brands flag chip risk in months ahead
RE
More news
Financials
Sales 2021 253 B 300 B 300 B
Net income 2021 14 740 M 17 500 M 17 500 M
Net cash 2021 34 213 M 40 617 M 40 617 M
P/E ratio 2021 7,09x
Yield 2021 3,58%
Capitalization 126 B 150 B 150 B
EV / Sales 2021 0,36x
EV / Sales 2022 0,31x
Nbr of Employees 632 825
Free-Float 56,8%
Chart VOLKSWAGEN AG
Duration : Period :
Volkswagen AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends VOLKSWAGEN AG
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 25
Last Close Price 205,75 €
Average target price 279,86 €
Spread / Average Target 36,0%
EPS Revisions
Managers and Directors
Herbert Diess Chairman-Management Board
Arno Antlitz Head-Finance & Information Technology
Hans Dieter P÷tsch Chairman-Supervisory Board
Thomas Schmall-von Westerholt Head-Technology
Kurt Michels Chief Compliance Officer
Sector and Competitors
1st jan.Capi. (M$)
VOLKSWAGEN AG34.99%149 676
TOYOTA MOTOR CORPORATION26.05%249 571
DAIMLER AG32.27%95 537
GENERAL MOTORS COMPANY36.96%82 456
GREAT WALL MOTOR COMPANY LIMITED42.11%72 238
BMW AG17.54%64 854