As per Alix Partners, automakers might lose $110 billion revenue due to global semiconductor chip shortage. The amount was previously estimated as $61 billion. The crisis might hit the production of 3.9 million vehicles.

As per the data reported by SIAM in the Auto Industry Sales Performance, the total production of passenger vehicles, three-wheelers, two-wheelers and quadricycles in April 2021 was 1,875,698 units.

According to the data given by state-owned fuel retailers, the sale of petrol used in cars and motorcycles dropped by 6.3% in April as compared to March.

The RBI Governor has announced measures for cash-starved enterprises in the MSME and SMB sectors. Banks can now deduct credit disbursed for new MSME borrowers from their NDTL for calculation of CRR.

Chinese car companies are building electric car factories at a great speed compared to the rest of the world. LMC Automotive predicts, by 2028, China will be making over 8 million electric cars a year.

Pat Gelsinger, CEO, Intel, met with Thierry Breton, European Commissioner, to deliberate the semiconductor strategy. He stated that the existing global chip shortage will persist for another couple of years.

The top auto players anticipate challenges in the areas of dealership activity, supply chain and customer movement. Analysts expect the impact of the second wave on the auto sector to be considerable.

The Alliance for Automotive Innovation (also known as Auto Innovators), where Tesla is not a member, shared guidelines for manufacturers to advertise partially automated driving systems. Its members support the voluntary principles.

The chipmaker will spend $3.6 billion in the next three years to combat the global chip shortage. The production will happen at an existing UMC facility in the Tainan Science Park from the Q2 of 2023.