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Headings: Shortage of Microchips and its Impact on the Auto Industry
Monday, February 15, 2021
Shortage of Microchips and its Impact on the Auto Industry
After unprecedented zero sales, plant shutdown; the global auto industry is now facing a microchip shortage, also spawned out by the COVID pandemic.
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Monday, February 15, 2021
IndraStra Global
Shortage of Microchips and its Impact on the Auto Industry
IndraStra Global Monday, February 15, 2021 Automotive , Business & Economy , India , South Asia
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After unprecedented zero sales, plant shutdown; the global auto industry is now facing a microchip shortage, also spawned out by the COVID pandemic. By Arkaprovo Roy
Team AutoFinTechs
Initially, it was lockdown, then parts supply disruption due to the COVID-19 pandemic, and now the auto industry is trying to revive the unprecedented crisis, but facing a new problem again. This time, it’s in form of tiny microchips or also known as semiconductors. The global shortage of critical parts like microchips has led to major trouble looming over the more than $450 billion worth of the global auto industry. It even led to a plant shutdown as well. Ford India had to extend the shutdown of its Maraimalai Nagar factory near Chennai for a week after Pongal, up to 24th January, just because of the microchip shortage. According to industry experts, the microchip shortage and its resultant impact will hit the production of Ford vehicles for both the domestic and export markets by around 50%, which will be an added pain after the COVID shock. This was just one instance, where one automaker is facing the crunch of microchips. There are several other automakers facing the same problem, due to the global shortage of semiconductor chips, which has started disrupting automobile factories worldwide.