Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Porsche expects another record year for sales despite chip shortage - Automobilwoche

Published 02/06/2022, 05:29 AM
Updated 02/06/2022, 05:30 AM
© Reuters. FILE PHOTO: The Porsche logo is seen on a wheel of the 2020 Porsche 911 Speedster as it is revealed at the 2019 New York International Auto Show in New York City, New York, U.S, April 17, 2019. REUTERS/Brendan McDermid

BERLIN (Reuters) - Luxury carmaker Porsche AG expects another record year for sales despite the global semiconductor chip shortage, its sales chief was quoted as saying by industry magazine Automobilwoche.

"When I look at the current orders, I'm confident for 2022. Growth in sales could reach a similarly high level this year as in 2021," Detlev von Platen said in an interview with the magazine.

Sales at Porsche, part of Volkswagen (DE:VOWG_p), rose 11% last year to 301,915 which would mean they could reach more than 335,000 this year if growth maintains the same pace.

Van Platen said Porsche wanted to hire 400 more workers. The carmaker has a workforce of nearly 40,000.

The high demand was leading to longer delivery times, he said.

"Wait times can last several months, in some cases up to a year," von Platen said.

Carmakers around the world have been hit by a shortage of semiconductors caused by COVID-19 supply-chain disruptions as well as soaring semiconductor demand at consumer electronic companies.

Latest comments

Thats a nice review anyway.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.