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    VOW3   DE0007664039

VOLKSWAGEN AG

(VOW3)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 10/22 04:00:00 pm
196.19 EUR   +2.29%
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Volkswagen's Skoda Stops Production at Czech Sites Due to Chip Shortage

09/16/2021 | 08:46am EDT

By Kim Richters

Volkswagen AG's Czech car maker Skoda said Thursday that it will stop production at two local plants for one week due to semiconductor shortages.

"Recent COVID-19 outbreaks in Asia, for example in Malaysia, are forcing semiconductor manufacturers to close their factories again. This has resulted in industry-wide adjustments to car production, and SKODA AUTO is also affected," the company said.

The auto maker said it will halt production lines at plants in Mlada Boleslav and Kvasiny in calendar week 39, which will lead to some vehicles being delivered late to customers.

"However, we expect that semiconductor production will gradually be ramped up again in the fourth quarter. As a result, we expect the overall supply situation to ease by the end of the year," Skoda said.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

09-16-21 1046ET

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Analyst Recommendations on VOLKSWAGEN AG
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Financials
Sales 2021 249 B 290 B 290 B
Net income 2021 13 838 M 16 117 M 16 117 M
Net cash 2021 31 643 M 36 854 M 36 854 M
P/E ratio 2021 7,06x
Yield 2021 3,73%
Capitalization 123 B 143 B 143 B
EV / Sales 2021 0,37x
EV / Sales 2022 0,32x
Nbr of Employees 632 825
Free-Float 56,8%
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Mean consensus BUY
Number of Analysts 23
Last Close Price 196,10 €
Average target price 268,80 €
Spread / Average Target 37,1%
EPS Revisions
Managers and Directors
Herbert Diess Chairman-Management Board
Arno Antlitz Head-Finance & Information Technology
Hans Dieter Pötsch Chairman-Supervisory Board
Thomas Schmall-von Westerholt Head-Technology
Kurt Michels Chief Compliance Officer
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