VW missed expectations in Q3 22 as the operating margin fell 8% short of the consensus. The top-line was in line with the consensus but cost inflation and a one-off bill for the write-down of the Russian operations and the Porsche IPO weighed on profitability. The outlook was confirmed implying a sequential step up in profitability although the company cut its delivery expectations as supply chain issues remain. Few details were given looking into 2023 and the strategy update has been postponed, ....
