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A global chip shortage is hitting carmakers at the worst possible time

January 13, 2021. Summarized by summa-bot.

Compression ratio: 20.6%. 1 min read.

The world's largest carmakers are facing a critical shortage of semiconductors that threatens to hamstring production just as the industry tries to stage a comeback from a sales slump caused by the pandemic.

London (CNN Business)The world's largest carmakers are facing a critical shortage of semiconductors that threatens to hamstring production just as the industry tries to stage a comeback from a sales slump caused by the pandemic.

Volkswagen said in a statement last month that it will need to adapt production at plants in China, North America and Europe this quarter.

The company said in a statement on Monday that it is working closely with suppliers and prioritizing "key vehicle lines for production. "

"This will minimize the impact of the current semiconductor shortage while ensuring we maintain production at our other North American plants," the company, which is set to merge with PSA Group (PUGOY) this month, said in a statement.

"With lead times of six to nine months, the semiconductor industry has not been able to scale up fast enough to meet this unexpected growth in automotive demand," parts supplier Continental (CTTAF) said in a statement sent to CNN Business on Tuesday.

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