Hyundai would be one of the few car manufacturers not to be bothered by a lack of chips for its cars. According to an analysis, the brand bought a huge stock of microchips just before the shortage, from which it has benefited to date.
Striking analysis from Reuters: Hyundai is outsmarting its competitors when it comes to the microchips that the auto industry is now so dire in. From GM to Dacia and from Daimler to Ford, more and more manufacturers are forced to reduce or even shut down production because of that shortage.
Although the problem is greatest in Europe according to some, it also affects the region where the chips are usually made: Asia. For example, Toyota is affected by the shortage.
Hyundai, which in this case also includes Kia, is the exception to the rule, according to Reuters. The Korean giant bought a huge stock just before the outbreak of the chip crisis last year and did so even before the shortage pushed the prices of these microchips to great heights. And on time, and for a reasonable price.
Reuters points to a combination of factors as the cause. For example, Hyundai in South Korea has a chip manufacturer for whom the car manufacturer is a very large customer and therefore receives a lot of priority. In addition, South Korea already has experience with a shortage of chips, because an important component for this important part has to come from Japan. Because Japan and Korea cannot always go through one door, there has been an imminent shortage before.
Perhaps partly because of that experience, Hyundai simply saw early arrival that the production of the microchips would be reduced due to the corona crisis. Then they took the step to actually make a major purchase, even in a period when Hyundai itself saw its sales decline significantly.
Hyundai and Kia are said to be able to move forward with the existing stock for the time being. Insiders at Kia are said to have whispered that ‘it cannot be said that we are ready for another three to six months’, but at the same time there is no reason to panic.