Volkswagen sees growth next year despite worsening economic outlook

Volkswagen expects growth in the autos market next year despite the worsening economic outlook as order books showed ongoing high demand was being stifled by supply chain shortages, its chief financial officer said on Friday.

The carmaker had almost fully compensated the rising energy and inflation costs this quarter by cutting fixed costs, Arno Antlitz added, helping it keep its margin target despite forecasting lower deliveries than previously expected.

Chief Executive Oliver Blume also said that the company remained committed to Level 4 autonomous driving despite exiting from its partnership with self-driving startup Argo AI and would decide in the coming month whether to proceed with a new partner it was currently testing out.

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