Standard Profil - comment

The current strength in the after-sales market in the US is a result of production volumes at the OEMs. Again, we are hearing of further disruptions in the chip manufacturing in China, resulting in further volume declines at the OEMs. Europe’s largest carmaker, VW Group has warned that 2023 will be another challenging year due to the ongoing chip crunch. VW’s brand, Skoda, has had to temporarily lower production and adjust shifts in February because of the shortage. Standard Profil rely on overall volumes in the OEM space, albeit have increasing exposure to the electric vehicle segments.