Categories: Economic News

VW sees growth next year despite worsening economic outlook

BERLIN — Volkswagen Group expects the car market to grow next year despite a worsening economic outlook, as order books showed that ongoing high demand was being drowned out by a shortage of supply chain, said CEO Arno Antlitz.

The automaker had almost completely offset rising energy costs and inflation this quarter by cutting fixed costs, Antlitz added, helping it maintain its margin target despite forecast lower deliveries in the that was previously expected.

CEO Oliver Blume also said the company remained committed to Level 4 autonomous driving despite exiting its partnership with self-driving startup Argo AI and will decide next month whether to continue with a new partner that is trying


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