The continued shortage of semiconductor chips in 2021 will cost the global auto industry $ 110 billion in revenue, according to consulting firm AlixPartners. The forecast is significantly worse in comparison with the earlier one - at the beginning of the year the company expected that the losses from the shortage of chips would amount to about $ 60 billion.
AlixPartners also predicts that due to a shortage of microcircuits, the global auto industry will miss the production of 3.9 million vehicles. This is higher than the January forecast, at the beginning of the year AlixPartners expected 2.2 million fewer cars to be produced due to this.
“The pandemic-fueled chip crisis has been exacerbated by events that would normally be bumps in the road for the auto industry, such as a fire at a key chip factory, cold weather in Texas and drought in Taiwan. But now all of these things have become serious problems for the industry, "commented Mark Wakefield, AlixPartners Managing Director for Automotive and Industries.
"Today, a typical vehicle uses up to 1,400 chips, and this number will only grow as the industry continues to move towards electric vehicles, more connected vehicles and, ultimately, autonomous vehicles." Dan Hirsch, managing director at AlixPartners' automotive and industrial practice, said in a statement. “So this is really a critical issue for the industry.”
In recent months, most of the world's automakers, including Volkswagen, Jaguar Land Rover, Nissan, Honda, Toyota, Fiat Chrysler, GM, have announced production cuts or halts due to chip shortages, as well as the negative impact of this problem on their revenues .