Chip shortage in the automotive industry: nearing its end?
23 Dec 2021

The chip and semiconductor shortage has grappled the automotive sector intensely. With production halted and manufacturing impacted globally, automotive supply chain shortages are now withstanding a nightmare for original equipment manufacturers (OEMs). Analysts opine that due to these challenges, the automotive industry is facing a huge decline in business by 70% in the last three months. Besides, the demand for commercial vehicles (CVs) has rebounded to its pre-Covid scenario. Hence, the supply of semiconductors is impacting the overall business of OEMs. Rajesh Menon, Director General, Society of Indian Automobile Manufacturers (SIAM) says, “The passenger vehicles sales in October 2021 were down by 27.15%, in comparison to the same time last year. This is mainly due to the semiconductor shortages.”

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