(Bloomberg) —
Volkswagen AG’s truck division Traton SE became the latest manufacturer to warn the global shortage of semiconductors has jeopardized deliveries.
Unit sales in the third quarter will be significantly lower than planned, the truckmaker said in a statement Wednesday. Supply bottlenecks are expected to continue in the fourth quarter and into next year.
Traton’s parent VW, Daimler AG and rivals outside Germany including Toyota Motor Corp. have braced investors for a downbeat upcoming quarterly earnings season after Covid-19 outbreaks in Southeast Asia further crimped chip supplies. The chief executives of VW and Daimler recently warned shortages could continue for months or years to come.
Shares of Traton, which comprises the Scania and MAN vehicle brands as well as U.S. manufacturer Navistar, fell as much as 4.4% shortly after the open of regular trading. The stock is little changed for the year.
Shortages of semiconductors and other parts have had a growing affect on Traton since the end of August. Malaysia has emerged as the main pinch point for its supply chain recently. Outbreaks of Covid-19 have spurred lockdowns and disrupted chip packaging and testing.
“We have ramped up existing measures in order to mitigate the supply bottlenecks as much as possible,” Chief Executive Officer Matthias Gruendler said in the statement. “There is a lot of demand for trucks from our customers right now, in the aftermath of the Covid-19 economic slump, and we believe they should get their vehicles as quickly as possible.”
(Updates with shares in the fourth paragraph.)
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