Continental (CTTAY.PK) said it performed well operationally in 2021 and achieved a positive net income. Adjusted sales were up 6.7 percent from prior year. The coronavirus pandemic, low automotive production due to electronic component shortages and significant cost increases in the areas of procurement and logistics had an especially significant impact on the sales and earnings, the company said.
In 2021, global production of passenger cars and light commercial vehicles increased year on year by only around 3 percent to approximately 77 million vehicles as a result of the semiconductor shortage.
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