FILE PHOTO: The VW logo is seen at the site of the first hearing of a consumer group's class action suit on behalf of Volkswagen owners against VW over the diesel emissions cheating scandal, at the Higher Regional Court in Braunschweig, Germany, September 30, 2019. REUTERS/Michele Tantussi
LONDON (Reuters) -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.
Volkswagen AG, Europe's top car company and also the world's No. 2, cut its outlook for deliveries, toned down sales expectations and warned of cost cuts as it reported lower-than-expected quarterly operating profit.
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