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ARTICLE · 08 OCTOBER 2021

The Great Chip Shortage - Long-Term Consequences

Crowe
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The once-obscure world of automotive microchips will never be the same again. It has been a difficult month for the car industry. Manufacturers such as Toyota and General Motors have announced sweeping...

CanadaTransport
Crowe MacKay LLP
Crowe MacKay LLP
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THE GREAT CHIP SHORTAGE – LONG-TERM CONSEQUENCES

More Production Reductions

The once-obscure world of automotive microchips will never be the same again. It has been a difficult month for the car industry. Manufacturers such as Toyota and General Motors have announced sweeping reductions to their fall production schedules for want of parts, particularly semiconductors. Consulting firm AlixPartners said Thursday that the chip shortage would likely cost the industry $210 billion in lost revenues this year, which was almost double its May estimate. Source: The Wall Street Journal

Car Companies Buckle Up for Extended Chip Shortage

The global chip shortage has slammed the auto sector this year, cutting factory output by several million vehicles and erasing billions in revenue for car companies. Next year is expected to be nearly as challenging, industry analysts say. Auto executives for months have expressed optimism that the problem would begin to ease by year's

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