RALEIGH, N.C., Aug. 31, 2022 /PRNewswire/ — A new feature from online automotive resource Automoblog takes an in-depth look at the semiconductor shortage and its relationship to the auto industry, including some of its impacts. Some of the post profound effects detailed in the article include:
- Automakers lost more than $210 billion in revenue (projected) in 2021.
- The average lead time for auto production went from 3-4 months to 10-12 months.
- Companies cut an estimated 18.3 million vehicles from production schedules in 2021 and 2022.
Automoblog also dives into some of the causes of the shortage, which include an overreliance on "just in time" manufacturing, raw material shortages and more. Using helpful infographics, the article brings clarity to the complex situation that is the chip shortage and its relationship to the auto industry.
Automoblog is an online automotive resource that helps people make informed decisions about cars and car ownership. To learn more about the publication, click here.