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The chip crisis was expected to be resolved in the last quarter of this year, bringing computer chip production and auto production to their previous levels.
But the sudden increase in Corona cases, especially in Southeast Asia, has sparked a new wave of parts shortages and the shutdown of auto factories around the world.
The shortage of devices that rely on these chips is expected to continue until the second quarter of 2022, according to the most optimistic estimates, according to Gartner Research, which means that car prices will continue to rise. contains 50. to 150 chips to control all the electronics of the car.
According to experts, the manufacture of a million cars will halt this year due to the shortage of chip supply, equivalent to $ 61 billion of declining revenues for the global auto industry.
Toyota, for example, the world’s largest automaker in terms of car sales, will close 14 Japanese factories in September, reducing production by around 40%.
Volkswagen, the world’s second-largest automaker, said it may soon have to make similar production cuts.
As a result, new car prices start to rise, but the most visible impact has been on the used car market, with prices jumping 14% year over year in Britain and over 40% in America.
Gartner points out that the current microchip shortage is a changing situation that requires continuous monitoring of the most important metrics, such as capital and inventory investments, supplier base diversification, and qualification from another source. of chips.
All of this may require additional work and investment, but it will go a long way in reducing risk.
In addition, it can help to establish strategic and close relationships with distributors, resellers and dealers, so that companies and countries can rise to the challenge and learn about the growth trends of the sector in general.
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