Some 20% fewer cars are to be produced worldwide by 2026 due to a lack of semiconductors if no measures are taken to counter the problem, Germany's VDA auto association said on Thursday, citing a study it had commissioned.
The study found the chip shortage had led to a 9% drop in global car production in 2021, the VDA said.
It said demand for chips was expected to triple by 2030 as carmakers transition to electric vehicles and as features such as electronic systems to assist drivers become more common.
Car production to dip 20% by 2026 due to chip shortage
Image: Sean Gallup/Getty Images
Some 20% fewer cars are to be produced worldwide by 2026 due to a lack of semiconductors if no measures are taken to counter the problem, Germany's VDA auto association said on Thursday, citing a study it had commissioned.
The study found the chip shortage had led to a 9% drop in global car production in 2021, the VDA said.
It said demand for chips was expected to triple by 2030 as carmakers transition to electric vehicles and as features such as electronic systems to assist drivers become more common.
Koji Sato, incoming Toyota CEO, must navigate shift to clean energy
Renault, Nissan aim to announce deal on reshaped alliance on February 6
Motorists must brace for pain at the pumps with fuel prices set to rise in February, warns AA
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most read
Latest Videos