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From Jul 2021 to Jul 2024
By Cristina Roca
Skoda Auto has suspended almost all production at its Czech plants for the next two weeks as it feels the strain from a global semiconductor shortage, it said Monday.
"Skoda Auto is currently facing a great shortage of critical parts, which in recent weeks has been forcing us to significantly reduce production volumes," Tomas Kotera, head of corporate and internal communication, told Dow Jones Newswires.
The company expects semiconductor deliveries to gradually stabilize in the second half of next year, he said.
The Czech auto brand, which is part of Volkswagen AG, will keep just one production line running at its Kvasiny plant, and will concentrate on finishing about 10,000 work-in-progress vehicles. As a result, these will be delivered more quickly than expected.
At 1149 GMT, shares in Volkswagen were down 2.5% at EUR193.76.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
October 18, 2021 08:05 ET (12:05 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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