Volkswagen said it would further cut car production at its Wolfsburg plant in northern Germany due to a shortage of semiconductors that has hit the industry worldwide.
Volkswagen Group returned to profitability in the third quarter, helped by a surge in demand in China, despite an overall drop in global vehicle deliveries during the COVID-19 pandemic.
Volkswagen Group has begun regular production of ID.4 crossover, the second model in a planned family of electric vehicles that will be built and sold around the world.
Volkswagen Group has agreed to pay 9 million euros ($9.9 million) in a deal with a German court to end legal proceedings against its chairman and CEO, who were accused of holding back market-moving information on rigged emissions tests.
Volkswagen Group’s global vehicle sales fell 23 percent to 2 million in the first quarter. In March alone, sales were down 38 percent overall at 623,000 vehicles, reflecting the coronavirus crisis.
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