The global chip shortage that has idled automotive plants, delayed shipments of new vehicles and pushed transaction prices to record levels may soon relent as early as this fall.
Jim Watson/AFP via Getty Images But the dramatic impact of the last 12 months could very well continue into 2022 and beyond.
The lack of deals and slim selection of new vehicles are challenges for automakers and consumers alike as the lucrative summer selling season fast approaches. "A lot of industries are competing for this scarce resource," he said."No automaker has a locked supply of [chips]." "We've seen new vehicles over the last 10 years become exponentially more computerized," Ed Kim, an automotive industry expert at AutoPacific, told ABC News."Even the cheapest cars require a lot of chips."Kim said automakers will rightly try to ward off another computer chip disaster as they still reel from depleted inventories and a supply pinch.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Consumers find shortages and higher prices as COVID-impacted supply chains shift for recovery“Retailers know there’s a range of outcomes and have been preparing. I don’t expect us to see as dire of inventory issues as we saw at the beginning of the pandemic. That said, the consumer experience will be slightly different from pre-pandemic.'
Read more »
Chip Shortage Brings Frustration but More Business to Industry’s MiddlemenBusinesses around the world need chips but can’t find them. Making matters worse is that the typical problem solvers—chip brokers and middlemen—find themselves in some cases just as empty-handed.
Read more »
Can I Cook It? Yes, You Clam! Pasta With Canned-Clam SauceSatisfy your clam cravings with this quick and flavorful pasta recipe.
Read more »
Starbucks is experiencing an ingredient shortage that affects 25 menu itemsA Starbucks spokesperson said the company is 'experiencing temporary supply shortages of some of our products.'
Read more »
People Whose Bosses Are IRL Michael Scotts Are Sharing Their Wildest Stories, And These Could Literally Be Episodes Of “The Office”'He tried to 'learn Spanish' for when she returned from maternity leave, but after he learned she was actually from Portugal.'
Read more »
The Nintendo Switch can now teach your kid how to make their own video gamesIf your big kid is constantly playing video games and wants to learn (or is already learning) to code, NintendoCanada's Game Builder Garage is right up their alley. nintendoswitch
Read more »