Global Chip Shortage = How Much Longer? EXPLAINED
222The Global Chip shortage is continuing to take a toll on the auto industry as Ford and General Motors have announced plans to scale back production amid the supply chain issue. GM will be idling nearly all of its North American Assembly plants starting on Monday. A handful of facilities producing full-size SUVs, heavy-duty pickups, the Corvette, and Camaro will remain operational for the time being. The semiconductor shortage has taken a toll on the auto industry as the crucial chips are used in components such as airbags and touch screen displays. This has created issues for other brands including Ford, they recently reported that new vehicle sales in August declined by nearly a third due to the shortage. Ford will be rolling back production at many of its plants, which includes reducing the number of shifts operating assembly lines. No brand is immune to this problem. This begs the question, how long can this situation affect the auto industry? Lauren Fix explains.
If you have additional questions, put them in the comments below and I'll be happy to answer.
0:00 Global Chip Shortage = How Much Longer?
1:20 Supply chain disruption - autos
2:30 Hoarding of chips
3:36 Used car prices
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