Chip Shortages Could Cripple Global Auto Makers Until 2023, While More Negatives Gather

Even the most ardent glass-half full defenders of the automotive industry might be getting a bit nervous as more existential surprises spring out of left-field.

Automotive industry investors braved the coronavirus-inspired sales slump in 2020 hoping for a sharp “V” shaped recovery. The virus returned and the “V” was flattened, but long-range forecasts still promised sunlit uplands, soon. Now the industry has been blind-sided by another crippling, unscripted guest, a shortage of microchips. This seemed at first like maybe a month-long problem, but it could last until 2023, according to industry analysts at Fitch Solutions.

At least these problems look solvable and promise a return to profitable business as usual.

Except for this new bombshell from investment bank Morgan Stanley
MS
. Traditional automakers seeking to revolutionize their production by switching from internal combustion engines (ICE)

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Industry calls for more free ports as it warns Chancellor he risks leaving coastal towns behind

Container ships passing near Southampton Docks last year - Andrew Matthews /PA
Container ships passing near Southampton Docks last year – Andrew Matthews /PA

The national association for ports has called on the Chancellor to create more than 10 free ports or risk distorting competition and leaving behind some coastal towns in the Government’s “levelling up” agenda.

A 10-week government consultation ends this week on plans to attract ­investment into post-industrial coastal areas by creating zones where goods do not face tariffs or other taxes usually slapped on imports, alongside other ­incentives including research and development tax credits, capital allowances, discounts on stamp duty and business rates, and local relaxations of planning laws.

However, in a letter to Rishi Sunak seen by The Daily Telegraph, Richard Ballantyne, chief executive of the British Ports Association, expressed the group of more than 400 ports’ “serious concern” that the proposals appeared to have “limited aspirations” to establish only up to 10 sites.

“The industry

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AIAG.org

Most of the modifications occurring in the automotive market today, together with tightened credit markets in a capital-intensive trade and increased authorities involvement are the latest international challenges. Unless stated otherwise on your nation in Part 14, we might temporarily or permanently droop or terminate your account or impose limits on or restrict your access to parts or all of the Services at any time, with out discover and for any motive, including, however not limited to, violation of these Terms, court docket order, or inactivity. Toyota’s luxurious division is famend for the reliability and quiet comfort of its vehicles. Lexus has additionally embraced hybrid technology in its lineup with automobiles like the CT 200h hatchback and RX 450h SUV.

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