{"id":343292,"date":"2021-09-23T17:47:33","date_gmt":"2021-09-23T14:47:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/chip-shortage-expected-to-cost-auto-industry-210-billion\/"},"modified":"2021-09-23T17:47:33","modified_gmt":"2021-09-23T14:47:33","slug":"chip-shortage-expected-to-cost-auto-industry-210-billion","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/chip-shortage-expected-to-cost-auto-industry-210-billion\/","title":{"rendered":"#Chip shortage expected to cost auto industry $210 billion"},"content":{"rendered":"<p>&#8220;<strong>#Chip shortage expected to cost auto industry $210 billion<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>The semiconductor chip shortage that\u2019s roiled the global car market is now expected to cost the industry $210 billion in revenue this year, consulting firm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.alixpartners.com\/media-center\/press-releases\/press-release-shortages-related-to-semiconductors-to-cost-the-auto-industry-210-billion-in-revenues-this-year-says-new-alixpartners-forecast\/\">AlixPartners said Thursday<\/a>. <\/p>\n<p>The revised forecast is nearly double the New York-based firm\u2019s projections from May, when it expected to see $110 billion in lost revenue due to the shortage.<\/p>\n<p>Semiconductor chips are a critical component in new cars that power features ranging from entertainment systems to power steering and brakes. <\/p>\n<p>Supply has been constrained during the COVID-19 pandemic due to shutdowns at factories amid outbreaks as well as surging consumer demand for electronics that use the chips.<\/p>\n<p>\u201cOf course, everyone had hoped that the chip crisis would have abated more by now, but unfortunate events such as the COVID-19 lockdowns in Malaysia and continued problems elsewhere have exacerbated things,\u201d said\u00a0Mark Wakefield, global co-leader of the\u00a0automotive and industrial practice\u00a0at AlixPartners.<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/semiconductor-shortage-05.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Integrated semiconductor microchip.\" class=\"wp-image-19553245\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/semiconductor-shortage-05.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/semiconductor-shortage-05.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/semiconductor-shortage-05.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Semiconductor chips power features ranging from entertainment systems to power steering and brakes.<\/figcaption><figcaption><span class=\"credit\">Alamy Stock Photo<\/span><\/figcaption><\/figure>\n<p>On top of the chip shortage, the industry\u2019s gr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ling with economy-wide issues like a lack of workers and a steel shortage, Wakefield added.<\/p>\n<p>\u201cThere\u2019s no room for error for automakers and suppliers right now; they need to calculate every alternative and make sure they\u2019re undertaking only the best options,\u201d he said in a statement.<\/p>\n<p>The group said it\u2019s now forecasting that 7.7 million units of production will be lost in 2021, up from 3.9 million in its forecast published in May.<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/semiconductor-shortage-01.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"New Ford F-Series pickup trucks are stored in a lot.\" class=\"wp-image-19553261\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/semiconductor-shortage-01.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/semiconductor-shortage-01.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/semiconductor-shortage-01.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>An estimated 7.7 million units of production will be lost in 2021 due to the shortage.<\/figcaption><figcaption><span class=\"credit\">Jeffrey Scott Dean\/Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>Major automakers, including Ford and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a> Motors, have warned investors that the chip shortage could hurt their earnings, and have continued to deal with limited production capacity. <\/p>\n<p>While there\u2019s still no end in sight for the shortage, the companies have managed to make up for the higher costs thanks to strong demand for new cars and surging prices. <\/p>\n<p>The White House is exploring ways to alleviate the shortage. Commerce Secretary Gina Raimondo and White House National Economic Council director Brian Deese are expected to meet with companies Thursday about the issue.<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/semiconductor-shortage-04.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"President Joe Biden (C) speaks during a CEO Summit on Semiconductor and Supply Chain Resilience.\" class=\"wp-image-19553275\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/semiconductor-shortage-04.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/semiconductor-shortage-04.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/semiconductor-shortage-04.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The White House is exploring ways to alleviate the shortage, asking Congress to approve $52 billion in spending to increase US production of semiconductor microchips.<\/figcaption><figcaption><span class=\"credit\">Amr Alfiky\/Pool\/Getty Images<\/span><\/figcaption><\/figure>\n<p>Executives from Detroit\u2019s Big Three automakers as well as Apple, Daimler, Micron, Microsoft, Samsung and others are expected at the meeting.<\/p>\n<p>The White House has previously said it wants Congress to approve $52 billion in spending to increase US production of semiconductor chips.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/09\/23\/chip-shortage-expected-to-cost-auto-industry-210-billion\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Chip shortage expected to cost auto industry $210 billion&#8221; The semiconductor chip shortage that\u2019s roiled the global car market is now expected to cost the industry $210 billion in revenue this year, consulting firm AlixPartners said Thursday. The revised forecast is nearly double the New York-based firm\u2019s projections from May, when it expected to see&#8230;<\/p>\n","protected":false},"author":1,"featured_media":343293,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/semiconductor-shortage-hp.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[116408,73710,29696,5069,72938],"class_list":["post-343292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-9-23-21","tag-automotive-companies","tag-cars","tag-economy","tag-sales"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/343292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=343292"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/343292\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/343293"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=343292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=343292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=343292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}