BY Michael Karkafiris | Posted on
VW Group CEO Herbert Diess is forecasting that global demand for new cars will see a significant increase in the latter half of the year, despite the global pandemic and the shortage of semiconductors that will negatively affect the carmaker’s first-quarter results.
Speaking to executives during an internal webcast, Diess told his managers that they should prepare for market demand to bounce back.
2021 VW ID.4
“I am looking forward to 2021 and I expect that the global economy will see an upturn in the second half of the year, by which time we should see ongoing vaccination programs take effect,” Diess said, according to
VW CEO Tells Managers He Expects ‘Significant’ Market Upturn
Bloomberg 2/2/2021 Christoph Rauwald
(Bloomberg) Volkswagen AG Chief Executive Officer Herbert Diess provided an upbeat outlook for the back half of this year even as Covid-19 and a global shortage of semiconductors is poised to hit first-quarter results.
“I am looking forward to 2021 and I expect that the global economy will see an upturn in the second half of the year, by which time we should see ongoing vaccination programs take effect,” Diess told executives in an internal webcast Monday, according to remarks seen by Bloomberg News. “Then I expect people to buy more cars. We should prepare for a significant upturn.”
Ford closes German plant for 1 month as global chip crisis worsens
Ford has ordered a month-long production halt at one of its plants in Germany, the latest sign that a global shortage of computer chips is putting carmakers under increasing pressure and threatening their recovery from the pandemic.
The US automaker said it would idle its factory in Saarlouis, Germany, from Monday until February 19 because of the chip shortage and weak demand. The plant makes Ford’s most popular car in Europe, the Focus, and employs around 5,000 workers.
“We are closely monitoring the situation and adjusting production schedules to minimize the effect on our employees, suppliers, customers and dealers across Europe,” said a Ford spokesman. “At this time, we do not anticipate any similar actions at our other European facilities.”
Ford has ordered a month-long production halt at one of its plants in Germany, the latest sign that a global shortage of computer chips is putting carmakers