Own fault
The global shortage of microchips also affects the automotive industry. Credit insurer Allianz Trade has calculated that the chip shortage has already cost the car industry a total of around €100 billion in 2021 and this year. Hundred billion.
The shortage of microchips has plagued various industries for some time, including the automotive industry. At the start of the corona crisis, car manufacturers reduced their production and therefore also the number of orders for microchips. As the economy eventually picked up faster than expected, chip production lagged behind demand. The consequence? Car production has fallen by millions. which leads to long waiting times and high used prices. According to credit insurer Allianz Trade, about 18 million fewer cars have already been produced due to the chip shortage.
Allianz Trade has estimated that this will cost the auto industry around €100 billion in 2021 and this year. According to experts at Allianz Trade, the auto industry has partly brought this upon itself. “To absorb the blow of corona, car manufacturers made significant cutbacks, including by minimizing stocks and orders for semiconductors,” said Allianz. “When the car market recovered, there was only a limited amount of chips available for the car industry.”
The chip shortage is expected to continue for a while, probably well into 2023.
– Thanks for information from Autoweek.nl