The global chip shortage is hitting the automotive sector extremely hard. Some brands are more affected than others, but across the entire sector, there is an enormous loss of production and a financial dent as a result of the shortage.
The global auto sector is estimated to lose 110 billion dollars, or more than € 90 billion, in turnover this year due to the chip shortage that car manufacturers are struggling with. That is almost twice as much as an earlier estimate by research and consultancy firm AlixPartners. At the beginning of this year, the impact of the chip shortage in the car industry was estimated at € 50 billion dollars by the agency. AlixPartners thinks that car manufacturers will build 3.9 million fewer cars this year as a result of the chip shortage. Previously, a production loss of 2.2 million cars was expected here.
Several major car manufacturers have already had to shut down factories or production lines due to a lack of chips. These include Ford, Volkswagen Group, Stellantis, Toyota, Daimler (Mercedes-Benz) and General Motors (GM). In the Netherlands, production came to a temporary halt at VDL Nedcar. Several manufacturers have already indicated that production will be considerably lower this year.
Due to the high demand for chips for laptops and smartphones for many home working and also game consoles, chip companies are struggling to meet the demand from the automotive industry. The AlixPartners researchers believe that the problems for the automotive sector around chips will continue for some time. Previously, Ford, Volkswagen and Stellantis already indicated that they will be delayed this year until at least until the second half of the year.