Tesla chief executive Elon Musk said Friday that he sees an end to the semiconductor supply shortage in relatively short order thanks to new chip plants being planned and already under construction. “There’s a lot of chip fabrication plants that are being built,” Musk said via video uplink at an Italian Tech Week event. “I think…
Elon Musk Expects Chip Shortage to Be Short-Lived as Production Capacity Expands
Chip Shortage to Cost Automakers $210 Billion in Sales: Analysis
The global semiconductor shortage will lead to 7.7 million fewer vehicles produced in 2021, costing automakers billions in lost sales, according to consulting firm AlixPartners. The forecast, released Sept. 23, estimates that the shortage will cost the auto industry globally $210 billion in lost revenues in 2021, up sharply from the May projections of $110…
GM Chief Sees Chip Supplies Stabilizing but Below ‘Volume That We Really Need’
General Motors President Mark Reuss said Tuesday that he expects the global supply of semiconductors to stabilize but at lower levels than automakers need to rebuild their inventories. Reuss made the remarks at a conference hosted by the Detroit Regional Chamber in Michigan on Sept. 21, where he discussed GM’s plans for battery-powered car and…
Surge in Virus Deepens Global Supply Chain Woes
Renewed outbreaks of COVID-19 in Asia are compounding the global supply chain problems that began at the onset of the pandemic and shutdown measures last year. The latest wave of infections in Malaysia and other Southeast Asian countries has led to closures of plants and ports, causing severe disruptions in the supply of semiconductors and raw materials….
GM, Ford Halt Some Production as Chip Shortage Worsens
DETROIT—The global shortage of computer chips is getting worse, forcing automakers to temporarily close factories including those that build popular pickup trucks. General Motors announced Thursday that it would pause production at eight North American plants during the next two weeks, including two that make the company’s top-selling Chevrolet Silverado pickup. Ford will stop making…
Toyota to Cut Production by Up to 60 Percent Due to Parts Shortage
August 19, 2021
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A pandemic-driven parts crunch is forcing Toyota to cut production by 40 percent in assembly plants in Japan and by as much as 60 percent in North America. Japan’s top automaker said in an Aug. 19 factory operation notice that it would be slashing production by around 40 percent across 14 plants in Japan, while a…
Ford Will Halt Production at US Truck Plant for Week Over Chip Shortage
WASHINGTON—Ford Motor Co said Wednesday it will temporarily shutter its Kansas City assembly plant that builds its best-selling F-150 pickup truck due to a semiconductor-related part shortage as a result of the COVID-19 pandemic in Malaysia. The one-week shutdown will begin Aug. 23, the second-largest U.S. automaker said, adding it will also cut a shift…
Chip Shortage Prompts Production Halt at Volvo Cars in Gothenburg
STOCKHOLM—Volvo Cars, owned by China’s Geely Holding, will temporarily stop production at its Swedish plant in Gothenburg due to the shortage of semiconductor chips, it said on Wednesday. A global chip shortage has hit manufacturing, with automakers cutting down on production and electronic device makers struggling to keep up with a pandemic-led surge in demand…
Despite Chip Shortage, GM Posts $2.8B Profit, UPS Guidance
August 4, 2021
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DETROIT—Despite a computer chip shortage that temporarily closed some of its factories, General Motors made a healthy $2.8 billion net profit in the second quarter. The earnings came even though GM plants cranked out 200,000 fewer vehicles than they did during the same period in 2019, the last comparable quarter before the COVID-19 pandemic. The…
GM Posts $2.8 Billion Profit, but Cautious Tone Sinks Share Price
August 4, 2021
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DETROIT—General Motors posted a healthy $2.8 billion second-quarter profit Wednesday, but its cautious outlook for the rest of the year spooked investors. The Detroit automaker made the strong profit despite a global shortage of computer chips that have forced it and other companies to temporarily close factories. While GM raised its outlook for the year,…
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