Microchip Shortage Affects Global Annual Car Production

18 Nov 2021

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Microchip Shortage Affects Global Annual Car Production

The semiconductor chips are not available in the market and it has created the havoc in global automotive car market and various automakers have to reduce their car productions. It is revealed recently that the car manufacturing companies have sold 10 million less units this year as the microchip is short in the market. It is suggested that this crisis can be increased but the carmakers have carried on production to adopt to far-reaching repercussions. It is also indicated in the analysis that the further cut in production takes this deficit to 11.2 million by the end of 2021.

The leading journal has got published a report, which shows that the figures of production and sales have been reduced in various advanced car markets like North America, Europe, UK and China. It is also surprisingly said that the figures of purchase and sale in various developing car markets including Pakistan, India, Bangladesh, Indonesia, Malaysia, Sri Lanka and Philippines.

The experts said that the latter markets can have the lineup of vehicles and it is not necessary that they require microchips to function properly. It is worth mentioned that various auto companies like Toyota Indus Motor Company, Pak Suzuki Motors, Honda Atlas Cars and other automakers in Pakistan are still gearing profit. It is expected that this shortage will continue till 2023 as the experts have predicted it.

Microchip Shortage Annual Car Production

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