German automotive supplier and tyre manufacturer Continental slipped into the red in the second quarter due to increased costs and depreciation. Net income plunged €250.7 million ($255 million) after a profit of €545.3 million a year ago, the DAX-listed corporation said. The Hanover-based company said results were impacted by the geopolitical tensions as a result of Russia’s war against Ukraine, disrupted supply chains and price increases for raw materials, energy and logistics, coupled with the shortage of electronic components. Continental had already announced a high need for write-downs in…