{"componentChunkName":"component---src-templates-blog-post-js","path":"/blog/chip-shortage-expected-to-cost-auto-industry-110-billion-in-revenue-in-2021/","result":{"data":{"site":{"siteMetadata":{"title":"No Frills News"}},"contentfulNfnPost":{"postTitle":"Chip shortage expected to cost auto industry $110 billion in revenue in 2021","slug":"chip-shortage-expected-to-cost-auto-industry-110-billion-in-revenue-in-2021","createdLocal":"2021-05-14 14:31:07.589390","publishDate":"2021-05-14 00:00:00","feedName":"Autonomous Vehicle News","sourceUrl":{"sourceUrl":"https://www.cnbc.com/2021/05/14/chip-shortage-expected-to-cost-auto-industry-110-billion-in-2021.html"},"postSummary":{"childMarkdownRemark":{"html":"<p>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.\nAlixPartners is forecasting that production of 3.9 million vehicles will be lost this year as a result of the shortage.\nAutomakers such as Ford Motor and General Motors expect massive earnings cuts this year due to the chip shortage.\nGM expects the chip shortage will cut its earnings by $1.5 billion to $2 billion.\nThe global automotive industry is an extremely complex system of retailers, automakers and suppliers.</p>"}}}},"pageContext":{"slug":"chip-shortage-expected-to-cost-auto-industry-110-billion-in-revenue-in-2021"}}}