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FRANKFURT/HAMBURG – Volkswagen said on Friday that it expects supply ch ain issues to ease and sales to rise to as much as 331 billion euros ($352 billion) in 2023, sending shares in Europe’s top carmaker to their highest level in three and a half months.
The carmaker’s outlook, which comes after preliminary 2022 results published last month, also foresees a strong recovery of vehicle deliveries to 9.5 million, an increase of more than 14% year-on-year.
“Our performance last year demonstrated the improved resilience of the Volkswagen Group amid a challenging global backdrop,” Chief Financial Officer Arno Antlitz said.
“We expect the supply chain bottlenecks to gradually ease in the current year, allowing us to service the high order backlog.”
The comments reflect growing optimism of an industry slowly emerging from a global shortage of chips as well as supply chain problems also caused by the COVID-19 pandemic, with peers Stellantis and Renault