German powertrain specialist Vitesco Technologies has revised its full-year sales outlook upward after having a strong third quarter, led by demand for its electrification products. Spun off from megasupplier Continental last year in a bid to capitalize on the industry's rapid move toward electrification, Vitesco said 74 percent of its 4.3 billion euros in third-quarter orders were for e-solutions such as its battery management system. Andreas Wolf, who has led the world’s 26th-largest supplier since its inception, said he expects Vitesco to have "robust" sales of 9 billion euros or more this year, helped by higher global car production and a more reliable supply of microchips. He discussed this and more in an interview with Automotive News Europe Managing Editor Douglas A. Bolduc and News Editor Peter Sigal.
What is your overall market outlook for 2022?
This is really tied to things such as the semiconductor shortage, the war in Ukraine, the price of raw materials and other things happening all over the world. The biggest pain point is still the semiconductor shortages. We felt the shortage situation would improve in the second half 2022, and it has, but not for all our products. There are some older technologies where chip capacity has not really increased, so you still have to fight to get your share. That being said, the chip supply situation will improve even further in 2023 to the point where it is no longer holding us back.