Home Stock Volkswagen cuts working hours at German site until mid-October
imageStock Markets39 minutes ago (Sep 29, 2021 07:56AM ET)

(C) Reuters. FILE PHOTO: The VW logo is seen at the site of the first hearing against VW over the diesel emissions cheating scandal, at the Higher Regional Court in Braunschweig, Germany, September 30, 2019. REUTERS/Michele Tantussi

FRANKFURT (Reuters) – Volkswagen (DE:VOWG_p), which is suffering from an ongoing shortage of automotive chips, will cut working hours at its main German factory in Wolfsburg until the middle of October, it said on Wednesday.

The shortened working hours affect the first two weeks of October, the company said, adding that on Oct. 1 only one assembly line would be running at the plant, located at the carmaker’s headquarters.

Carmakers around the world have had to cut or adjust production in the wake of the shortage, which Volkswagen has said cost it a high six-digit number in lost vehicle production in the first half of the year.

Volkswagen is due to report third-quarter results on Oct. 28.

Volkswagen cuts working hours at German site until mid-October

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

EDITOR'S PICK

Volkswagen cuts working hours at German site until mid-October

SUBSCRIBE HERE

CATEGORIES

Latest News