A lack of wiring harnesses from Ukraine has overtaken a shortage of semiconductors as Volkswagen’s biggest supply chain problem, the German carmaker has said. The harnesses bundle up to 3.1 miles of cable in a car and are unique to each model. Production is being switched to north Africa and eastern Europe. “The war has put our outlook in question,” Herbert Diess, chief executive of the world’s second largest car company, said. Volkswagen sold two million fewer cars last year because of semiconductor shortages.
Changes to Ofgem cap
The energy regulator is to widen the time it uses to calculate the price cap on bills to ensure that up-to-date figures are used. Ofgem had set the limit in October based on energy prices between February and July, but now plans to use the end of August. Two dozen energy suppliers have gone out of business under the present price cap after the wholesale cost of energy rose sharply after the price was set. The cap is set to rise by 50 per cent from April 1.
Spotlight on scrapheap
The competition watchdog has launched an investigation into suspected anti-competitive conduct involving unnamed vehicle manufacturers and some industry bodies for not recycling old or discarded vehicles. The Competition and Markets Authority’s inquiry relates to arrangements for “end-of-life vehicles”. It said they must be disposed of in a sustainable way and that carmakers must offer customers a free service for recycling such vehicles.
Clarks names new boss
Clarks has installed Jonathan Ram, former boss of the New Balance trainer brand, as its head, replacing Victor Herrero, 53, who left the shoe chain in November after less than a year. Ram, 54, a Canadian, will take charge in April. Most recently he was group president of global activewear at HanesBrands, the American clothing group, and spent 16 years at New Balance. Herrero left abruptly to take on “broader responsibilities” within LionRock Capital, the parent company.