VW Plans to Increase Production in Second Half of 2022
Volkswagen plans to decide on location for new plant and increase production output in the second half of 2022, reports company officials.
Volkswagen
Volkswagen plans to decide on the location of a new electric vehicle plant by the end of March and will increase production output in the second half of 2022, reports company officials.
The company announced last year plans to build a new state-of-the-art car factory close to its headquarters in Wolfsburg, Germany, to increase EV output as Tesla builds a plant near Berlin.
This factory is part of VW group's Trinity project, under which the carmaker hopes to build a flagship electric sedan in Wolfsburg from in 2026. The VW works council hopes the strategy will secure the site's future as Volkswagen prepares to stop selling internal combustion-engine cars in Europe in 2035.
Volkswagen saw its share price tumble in the fourth quarter of 2021. The automaker has since seen a partial recovery, rising slightly upon its recent announcements from 187.8 euros ($213.81) at the opening to 188.14 euros.
The works council reported Volkswagen produced 330,000 fewer vehicles than forecasted at the Wolfsburg plant in 2021 due to a shortage of semiconductors. Just under 400,000 vehicles rolled off its production line. Volkswagen announced plans to shutter night shifts on some production lines because of a lack of chips.
But Chief Executive Herbert Diess said in a statement that he hopes to increase production in the second half of 2022. Top models of Volkswagen's premium brands are already sold out for all of 2022 and the company’s trucks are also seeing large numbers of bookings.
Originally posted on Auto Dealer Today
More Industry
Pennsylvania Dealership Under New Retailers
The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.
Read More →
Battery Storage Takes Priority Over EVs
U.S. automakers are prioritizing battery energy stationary storage over electric-vehicle production as the consumer demand for EVs lags the rest of the world.
Read More →
Auto Dealers Feel Better But Not Great
A second-quarter Cox Automotive poll of franchised retailers and independents found better views of the current market after a good spring but anticipation of third-quarter storminess.
Read More →
New-Vehicle Sales Picture Relative
A May forecast is complicated by last spring’s trade tariff effects on auto retail. Despite continued hard realities, many consumers took advantage of ways to bite the bullet.
Read More →
Auto Group Acquires Third Nissan Rooftop
Iowa-based Coleman Automotive Group recently acquired its seventh dealership, McGrath Nissan, which it renamed Nissan of Elgin.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Building an Extraordinary F&I Agency
Work to determine your specialized talent, because that fact will determine everything about your agency’s future.
Read More →
Recipe for Compliance
The secret to both amazing barbecue and compliance is the same: understanding the basics and committing to a process.
Read More →
EVs Getting More Attractive
A growing percentage of U.S. consumers are open to switching and fewer are adverse to the idea, according to a recently completed survey. That’s despite the end of a tax break.
Read More →
EV Sales Drop in April Following Surge
North American electric-vehicle sales were down 28% year-over-year, a sharp contrast from global EV sales growth of 6%.
Read More →