Volkswagen's Skoda will produce 250000 fewer cars this year than originally planned, more than double the company's estimate of production cuts last month, because of a global chip shortage, according to people familiar with the matter.
According to union sources, because Skoda still has a large inventory of unfinished cars and will focus on completing them first, most shifts have been cancelled until the end of the year.
According to company executives, the chip shortage is likely to last until the second half of 2022 before stabilizing.
Skoda CEO Thomas Schaefer (Thomas Schaefer) said last month that he expected the company to produce 100000 fewer cars this year than planned.