Volkswagen Raises Profit Target Despite Chip Shortage, China Wrinkles

Volkswagen reported strong first quarter profits and raised its outlook for the year. VW’s performance in China raised some investor eyebrows. VW warned the computer chip shortage might worsen but still expected profitability for the year to improve to between 5.5% and 7%.
Volkswagen reported strong first quarter profits and raised its outlook for the year. VW’s performance in China raised some investor eyebrows. VW warned the computer chip shortage might worsen but still expected profitability for the year to improve to between 5.5% and 7%.