ongoing global shortage in semiconductors is on track to cost the world’s
automakers $210bn in lost revenue this year, almost double that of previous
at Alix Partners said that 7.7m fewer vehicles would be manufactured in 2021 as
a result of the shortfall, weighing on car firms’ earnings. As the crisis shows
no sign of abating, the new figures are markedly worse than the firm’s previous
projections in May, which estimated that $110bn in revenues would be lost as a
result of the chip shortage this year, due to 3.9m fewer vehicles being
unfortunate combination of the pandemic and natural disasters in Asia and the
US have left global chip manufacturers grappling with order backlogs and
struggling to delivery on time due to global supply chain disruption.
by one, a series of factories have closed across Europe, North America and
Asia, causing several prominent chipmakers to warn that the shortage will
extend well into next year.
in the month, Toyota, the world’s biggest car maker, cut its annual production
forecasts from 9.3m cars to 9m, as a combination of the semiconductor shortage
and coronavirus continue to hammer output and cause the firm to shut plants
across the globe.
of the firm’s factories in south-east Asia have been forced to close as a
result of the outbreaks, with its Malaysia brake chip factories worst hit by
shutdowns, and its semiconductor manufacturers in Vietnam.
October alone, Toyota estimates it will produce
300,000 fewer cars due to the ongoing shortfall – a 40% reduction from previous
fellow car giant Peugeot has been forced to close plants in Europe, while Ford
and General Motors have closed plants in the US.
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