Auto Industry Chip Shortage Could Go On For Years: Major Players Give Assessments | WHAT REALLY HAPPENED X-Frame-Options: DENY X-Frame-Options: SAMEORIGIN

Auto Industry Chip Shortage Could Go On For Years: Major Players Give Assessments

The auto industry may not get out from under the semiconductor chip shortage that has been plaguing it since the coronavirus pandemic started for a few more years, according to some industry experts.

The shortage of chips was the center of discussion Monday at the Munich Motor Show, with Ford, Volkswagen, and Daimler executives commenting on the challenges due to the short supply of the component.

The demand for chips has increased exponentially during the pandemic as consumers bought up tech products that also use the component as they stayed home for work and entertainment purposes.

The lack of chips to go around has forced automakers to reduce production shifts, temporarily close plants, and delay vehicles as they contend with the shortage of parts.

Volkswagen CEO Herber Diess told CNBC on Monday that the chip shortage is a “really big concern.”

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