At the same time, General Motors Executive Director Mary Barra believes that the severity of the global shortage of microchips will decrease somewhat by the end of 2021.
Leading American automotive companies Ford Motor and General Motors believe that the shortage of chips may last into 2023. This was reported on Thursday by the Financial Times newspaper.
According to Ford Motor CFO John Lawler, although the company expects the “scale and severity” of the problem to decrease, “the shortage of semiconductors will be felt throughout 2022 and even in 2023.”
General Motors Executive Director Mary Barra believes that the severity of the global shortage of chips will decrease somewhat by the end of this year, but “instability in this area will continue.”
Due to the shortage of semiconductors, sales and profits of both companies, as the publication notes, declined in the third quarter. This was due, among other things, to the insufficient number of new passenger cars and trucks at dealers to meet consumer demand. Barra said the company “sells everything it can and hopes to offer consumers more.”
Earlier, European automakers announced the need to establish chip factories in Europe as soon as possible in order to end dependence on their supplies from Asia. Car sales in Europe fell by 23% in September – to the lowest level since 1995 – in particular, due to the inability of automakers to meet demand, primarily due to a shortage of semiconductors. According to the European Automobile Manufacturers Association, the current crisis shows “how vulnerable the semiconductor supply chain is and how it is necessary to minimize dependence on foreign markets, especially Asian ones, for the availability of these vital components.”
