Monday, February 6, 2023
Homegermany engine of europeMajor automakers fear the global chip shortage could persist for some time

Major automakers fear the global chip shortage could persist for some time

  • The shortage is thought to have been exacerbated by the move to electric vehicles.
  • There are now other shortages in raw materials to contend with as well.
  • Bosch, which is the world's largest car-parts supplier, believes semiconductor supply chains in the automotive industry are no longer fit for purpose.

In this article

A General Motors assembly worker works on assembling a V6 engine, used in a variety of GM cars, trucks and crossovers, at the GM Romulus Powertrain plant in Romulus, Michigan.Rebecca Cook | Reuters

Car manufacturers including Ford, Volkswagen and Daimler are still struggling to deal with the impact of the global chip shortage, with executives from each of the companies warning a lack of silicon is likely to remain a problem.

Volkswagen CEO Herbert Diess, Daimler CEO Ola Kallenius and Ford Europe chairman of the management board Gunnar Herrmann told CNBC's Annette Weisbach at the Munich Motor Show on Monday that it's hard to tell when the complex issue will be resolved.

Germany's Volkswagen, Europe's largest carmaker, has lost market share in China as a result of the chip shortage, Diess said.

"We are relatively weak because of semiconductor shortages," he said. "We are hit more in China than the rest of the world. That's why we are losing market share."

Diess said his colleagues in China have been pushing for more semiconductors, describing the lack of chips as a "really big concern."

RELATED ARTICLES

Most Popular