Car Prices May Increase Over Semiconductor Chips Shortage

28 May 2021

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Car Prices May Increase Over Semiconductor Chips Shortage

The Global auto sector is facing a huge decline of semiconductor chips around the world. This huge shortage affected the car buyers and the automotive companies as well.

In a recent report by Washington post, only between 1.5 million and 5 million vehicles will be manufactured due to this crises. The scenario may be worst than this till Q2, 2021. On the other side the demand may increase that is not seems to be fulfilled.

Reason Behind Chips Shortage

The main reason for the shortage of semiconductor chips is the global crises arose after the COVID-19 pandemic that quarantined every field of life on one hand and on the other hand the chip manufacturing companies also became a victim that causes the short supply of chips to the automotive industry and resultantly affected it by low production of vehicles.

Car Prices On Chips Shortage

Due to crises of semiconductor chips shortage globally, the automotive industry affected badly in terms of production of cars and their shipments to international market. In this situation the car prices may increase in the local and glaobal automotive industries. On the global hike in car price, we can face a more car prices increase in the Pakistani automotive market as the market is already raising the car prices in Pakistan.

You can get all latest updates from the global and local auto industry. You can check the latest news and updates regarding the Car Prices 2021 and can also check the prices of all used cars and new cars in Pakistan so stay tuned with Gari.PK.

Increase in car prices Semiconductor Chips

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