Autonomous Vehicle News
In this article 6723.T-JPFGM8TI-FFNXPIThe ongoing semiconductor chip shortage is now expected to cost the global automotive industry $110 billion in revenue in 2021, according to consulting firm AlixPartners. AlixPartners is forecasting that production of 3.9 million vehicles will be lost this year as a result of the shortage. Automakers such as Ford Motor and General Motors expect massive earnings cuts this year due to the chip shortage. GM expects the chip shortage will cut its earnings by $1.5 billion to $2 billion. The global automotive industry is an extremely complex system of retailers, automakers and suppliers.