VW lowers car deliveries outlook over chip woes

Volkswagen's strong sales, including of its electric vehicles, is set to be stymied by the worsening shortage of semiconductor chips. — Bloomberg

German carmaker Volkswagen posted strong first-half profits on Thursday but cut this year's forecast for car deliveries over a worsening shortage of semiconductor chips.

The 12-brand group – including Porsche, Audi, Seat and Skoda – nevertheless lifted its profit target for 2021 after high-end vehicles drove a "record" performance over the first six months.