DETROIT—Volkswagen AG’s top Americas executive said on Tuesday the global semiconductor chip shortage will run well into next year. “Without a doubt, this shortage is going to go well into 2022, at least the second half of ’22,” Volkswagen Group of America Chief Executive Scott Keogh said at the Reuters Events Automotive Summit. The shortage of chips has led automakers around the world to curtail vehicle production, but also driven up profit as vehicle prices have risen. Carmakers use chips in everything from brake sensors to power steering to entertainment systems. Keogh added that while the issue may ease in the fourth quarter of this year, the industry still cannot meet market demand for vehicles. He said one likely shift in the near future is that automakers will try to reduce the number of chips needed in each part of the cars and trucks. “Historically, we’ve made decision as if …