The global semiconductor chip shortage cost Volkswagen and Stellantis a combined 1.4 million vehicles in lost production in the third quarter, Europe's two biggest carmakers said on Thursday, though both reported some early signs of improvement.
Stellantis finance chief Richard Palmer reported a "moderate" improvement in chip supply in October, and expected that to continue through the fourth quarter.
The shortage of chips, used in everything from brake sensors to power steering to entertainment systems, has led automakers around the world to cut or suspend production, pushing up both new and used vehicle prices amid robust demand from consumers.Palmer told analysts that, "given the volatility of the market," Stellantis was not currently expecting large production increases in 2022, but would focus more on maintaining price levels while battling rising raw material costs.
"Even though the visibility of the situation still remains difficult to forecast, we see the start of stabilisation of the chip supply and expect" key financials to improve in the fourth quarter, Antlitz told journalists.
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