The semiconductor shortage has hit the automotive industry and its production hard. According to a new forecast, several million fewer vehicles will be produced worldwide in 2021.
Millions of vehicles cannot be produced due to the microchip shortage
iryna_khomenko / stock.adobe.com
Demand for semiconductors currently significantly exceeds supply, and not only in the automotive industry. Already existing weaknesses in the supply chains of car manufacturers are now being exposed by the Covid-19 crisis. The shortage of microchips is having severe consequences for production in the automotive industry: According to a new forecast by global consulting firm AlixPartners, nearly four million fewer vehicles will be able to be produced worldwide in 2021. This is equivalent to 110 billion U.S. dollars in value.
"Globally, we expect around 3.9 million fewer vehicles to be produced this year due to the chip shortage. A significant portion of this will also be reflected in manufacturers' sales figures, which will be partially offset from inventory reductions", said Dr. Marcus Kleinfeld, Managing Director at AlixPartners in Germany. The problem will continue to have an impact in the coming year. Management consultancy Roland Berger expects "the semiconductor shortage to continue well beyond 2021".