HomeEconomicGlobal chip crisis: almost 8 million cars will not be produced due...

Global chip crisis: almost 8 million cars will not be produced due to shortages

In 2021, automakers worldwide will lose $ 210 billion. According to a report by AlixPartners, quoted by Bloomberg, due to unresolved problems of semiconductor shortages.

The company estimates that 7.7 million fewer cars will be produced this year due to a lack of chips, which is almost twice the previous forecast. Despite efforts to eliminate it, the shortage is becoming more acute.

Dan Hirsch, managing director of AlixPartners in the automotive and industrial sectors, said that while companies had a stock of cars, but in the coming weeks and months of sales will begin to suffer as reserves are depleted. Manufacturers themselves have also begun to warn that the deficit will seriously affect the results of the third quarter.

The situation is complicated by the increase in the number of cases of coronavirus infection in Southeast Asia, which leads to the closure of plants. It has taken 21 weeks to fulfill the order for the production of chips, and the leaders of the automotive industry are afraid that the shortage of chips may last for years.

According to Cox Automotive, as stocks of cars ran out, prices began to rise even more and reached a record $ 43,355 on average in the US in August. Hirsch also claims that some dealers are forced to rent cars to have something to show in their showrooms.

The deficit began last year, when manufacturers underestimated the demand for new cars. The crisis did not find a way out – due to natural disasters and COVID-19.

AlixPartners has published its third report on the subject in a year. In January, the company estimated that the deficit would cost producers $ 61 billion, and in May raised the forecast to $ 110 billion. Hirsch notes that he cannot guarantee a further increase.

Fresh news

Related news