What is the Impact of Chip Shortage on the Automotive Industry?
2 Answers
According to Bernstein Consulting's estimates, the global automotive chip shortage in 2021 will result in a production loss of 2 to 4.5 million vehicles, equivalent to nearly 5% of the global annual automobile production over the past decade. The think tank Inverto under Boston Consulting Group predicts that the impact of the automotive chip shortage on the industry will persist for another six months or even three quarters. Here are the benefits of new energy vehicles: Fuel energy savings: New energy vehicles typically use natural gas, petroleum gas, hydrogen, or electricity as power sources, saving fuel energy. Reduced exhaust emissions: New energy vehicles produce no exhaust emissions, effectively protecting the environment. Electric vehicles generate no tailpipe emissions and are pollution-free. Hydrogen-powered vehicles emit only water, causing no environmental pollution. Due to their near-zero emissions, they are also exempt from traffic restriction policies. High efficiency: New energy vehicles generally adopt new technologies and structures, making them more efficient.
I've worked in auto manufacturing for years, and the chip shortage has thrown us off big time. At the factory, we regularly face shutdowns because key microchips don't arrive on schedule. That leaves partially built cars cluttering the lot, unable to be completed until parts show up. It means lost hours for workers like me, with some shifts canceled, hitting our paychecks hard. Beyond that, production delays mean fewer new vehicles hit the market, pushing up prices for both new and used cars as demand outstrips supply. Dealers struggle to fill orders, and customers complain about long waits. Automakers are scrambling to find fixes, like redesigning models to use fewer chips or investing in homegrown suppliers. But it's not just a short-term issue – it could force permanent changes in how we manage inventory and build resilient supply chains, slowing down the entire industry's growth. I've seen firsthand how it disrupts everything from assembly lines to showroom sales.
