chip

Czech car sector to make 250,000 fewer vehicles this year due to chip shortage By Reuters

By Betty C. Morrow 2 days ago

© Reuters. FILE PHOTO: Cars are parked in the courtyard of Skoda Auto’s factory in Mlada Boleslav, Czech Republic, as the company restarts production after shutting downdue to the coronavirus pandemic (COVID-19) . Picture taken in Mlada Boleslav, Czech Republic, Apr

PRAGUE (Reuters) – Czech car makers will produce quarter a million fewer cars than expected this year due to the global shortage of chips and the automotive sector will lose 200 billion crowns ($9.14 billion) in sales, the Auto Industry Association (AutoSAP) said on Sunday.

AutoSAP said domestic passenger car production dropped by 53.1% in September year-on-year, to 56,157 cars.

It said the chip shortage impact would exceed that of pandemic shutdowns last year, and called on the government to activate an aid programme created amid the coronavirus pandemic last year to compensate firms for wages of idled workers.

AutoSAP said production rose 2.9% year–on-year cumulatively in the January-September

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Car production curbs hit TomTom amid chip shortage

By Betty C. Morrow 6 days ago

(Reuters) – Dutch navigation and digital mapping company TomTom warned on Thursday supply chain problems in the auto sector could last until the first half of next year after it reported a bigger than expected quarterly core loss.

FILE PHOTO: TomTom logo is seen on a vehicle in Eindhoven, Netherlands, November 21, 2019. REUTERS/Eva Plevier/File Photo

Auto production has been hammered by a global shortage in semiconductor chips, which has forced carmakers still recovering from last year’s coronavirus disruptions to halt production again.

“Collectively we have underestimated how big the supply chain issues, and especially for semiconductor shortages, have been or have become”, Chief Financial Officer Taco Titulaer told Reuters.

Titulaer added TomTom’s consumer and automotive revenue numbers would continue to be affected by these challenges.

The group said the recovery of its automotive division, which supplies maps and navigation software to carmakers, lagged expectations as it saw sales fall

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Car buyers are giving up as chip shortage dwindles new car inventories further

By Betty C. Morrow 4 weeks ago
Car dealership

The days of cars stocked in the back are no longer.


Ken Biddulph/EyeEm/Getty Images

It’s no secret the new car buying process is currently a challenge. With no end in sight to the semiconductor chip shortage, new car inventories remain thin and average prices inch up from the $40,000 mark. Now, new data shows car buyers are starting to simply throw in the towel on the process. According to Kelley Blue Book and Cox Automotive data from Tuesday, nearly half of new car shoppers are walking away.

Instead, they’re prepared to postpone their new car search for months in hopes the chip shortage will ease and supplies help find an equilibrium once again. “The latest KBB research indicates that most consumers anticipate negative impacts on the automotive market due to the chip shortage, from increased prices to inventory shortages and longer delivery times,” said Vanessa Ton, senior industry

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VW, Ford, Daimler fear chip shortage could persist for some time

By Betty C. Morrow 1 month ago

Technicians work in the assembly line of German carmaker Volkswagen’s electric ID. 3 car in Dresden, Germany, June 8, 2021.

Matthias Rietschel | Reuters

Car manufacturers including Ford, Volkswagen and Daimler are still struggling to deal with the impact of the global chip shortage, with executives from each of the companies warning a lack of silicon is likely to remain a problem.

Volkswagen CEO Herbert Diess, Daimler CEO Ola Kallenius and Ford Europe chairman of the management board Gunnar Herrmann told CNBC’s Annette Weisbach at the Munich Motor Show on Monday that it’s hard to tell when the complex issue will be resolved.

Germany’s Volkswagen, Europe’s largest carmaker, has lost market share in China as a result of the chip shortage, Diess said.

“We are relatively weak because of semiconductor shortages,” he said. “We are hit more in China than the rest of the world. That’s why we are

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