The shortage has, at one point or another, forced automakers to idle production.
The situation should steady in 2023 and might return to business as usual come 2024.
The global microchip supply problem has wreaked havoc in the automotive industry. It has forced all automakers to cancel shifts, stop production, and even delay deliveries of new vehicles for roughly 18 months. Based on Volkswagen’s CFO’s predictions, we’re not out of the woods yet.
The Volkswagen Auto Group (Volkswagen, Audi, Seat, Porsche, etc) has had to disrupt new vehicle production in Europe and North America due to the chip shortage. This year will continue to be a mess with some improvements in 2023. The scale of the current situation means that a resolution will not come until 2024.
“We see a structural undersupply in 2022, which is only likely to ease somewhat in the third or fourth quarter,” said Arno Antlitz, Volkswagen’s Chief Financial Officer, as reported by Automotive News. “The situation should improve in 2023, but the structural problem will not yet have been fully resolved. We are still in the height of the chip shortage,” Zipse was quoted as saying. “I expect us to start seeing improvements at the latest next year, but we will still have to deal with a fundamental shortage in 2023.”
The war in Ukraine is also disrupting part supplies.