How much longer will the semiconductor crisis slow car production? According to Carlos Tavares, it’s not for now…
In the aftermath of the Covid pandemic, the automotive industry had to face another major crisis: the shortage of semiconductors. These electronic components, now essential to the proper functioning of modern cars, are no longer produced in sufficient quantities to meet the upturn in demand. As a result, manufacturers can no longer produce enough cars, delivery times are getting longer and prices are rising… And it’s not going to get any better, according to Carlos TavaresCEO of the giant Stellantis.
In an interview with Le Parisien, Carlos Tavares talks about the famous crisis that is paralyzing the automotive industry as a whole. And Luca de Meo, boss of Renault and also invited to this interview, begins by recalling the causes:
« [Avec le Covid], we won our demand forecasts for semiconductors. And as people stayed at home, they were buying computers, PlayStations, etc. The semiconductor industry has adapted and focused on high value-added products for the consumer electronics market”. –Luca de Meo
Left behind in the chip markets, the automotive industry then sought to raise your orders, at the end of the pandemic. But for manufacturers, cars are nowhere near as profitable as computers, among other things. No way to get the number of chips needed, hence the current crisis.
A crisis that will take time to resolve, since it is now structural. Carlos Tavares glimpses a glimmer of hopebut it is far away:
“The situation will remain very complicated until the end of 2023, then will relax afterwards, in particular because the market for consumer electronics dips a little”. – Carlos Tavares
We will therefore have to wait until 2024 to see the first effects of the end of the shortage of semiconductors. Cars delivered faster, expanded ranges, extended customization, and maybe even lower prices…
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Especially since, again according to Carlos Tavares, the initiatives taken by Europe and the United States to relocate chip production will eventually bear fruit, and flood the semiconductor market. But according to the boss of Stellantis, it will be necessary to wait at least 3 years, that is 2025 at the earliest.
In short, if you were thinking of buying a new car soon, maybe it would be better to wait until 2024… But that’s a long time that many won’t be able to keep.
Source: Le Parisien via BFM
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