Shortage

Porsche CEO warns of ‘very serious’ global chip shortage

Porsche’s chief executive warned on Monday that the German luxury automaker’s daily operations could be affected over the coming months by a “very serious” global semiconductor shortage.

“The semiconductor topic is a very serious one because the whole industry is affected because of the big demand of consumer electronics and the faster return of the automotive sector,” Oliver Blume, chief executive of Porsche, told CNBC’s “Squawk Box Europe” on Monday.

“We could be affected every day, so we watch very deeply (over) the next days and months what we can do. We have to relax short term and look for measures long term.”

His comments come after a sudden upsurge in global car sales late last year coincided with a shortfall of essential chip components. The supply shortages brought assembly lines of the chip-reliant car industry to a standstill and halted the production of hundreds of thousands of vehicles worldwide.

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How Covid led to a $60 billion global chip shortage for automakers

This photo shows Ford 2018 and 2019 F-150 trucks on the assembly line at the Ford Motor Company’s Rouge Complex on September 27, 2018 in Dearborn, Michigan.

Jeff Kowalsky | AFP | Getty Images

Automakers across the globe are expected to lose billions of dollars in earnings this year due to a shortage of semiconductor chips, a situation that’s expected to worsen as companies battle for supplies of the critical parts.

Consulting firm AlixPartners expects the shortage will cut $60.6 billion in revenue from the global automotive industry this year. That conservative estimate includes the entire supply chain — from dealers and automakers to large tier-1 suppliers and their smaller counterparts, according to Dan Hearsch, a managing director in the New York-based firm’s automotive and industrial practice.

“All the way up and down the supply chain, everybody is out some portion of money,” he said. “This could be 10% of

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Nissan lowers sales forecast, acknowledges chip shortage disruption

This photo, taken in the U.K. on December 18, 2020, shows the back of a Nissan Leaf electric vehicle.

Ian Forsyth | Bloomberg | Getty Images

The CEO of Nissan reaffirmed the importance of electric vehicles to the carmaker’s future on Tuesday, telling CNBC that his company would be “building (on) our strengths to electrify 100% of our all-new vehicle offering from the early 2030s in key markets.”

Makoto Uchida’s comments echo an announcement made by Nissan at the end of January, when the firm said the Japanese, European, U.S. and Chinese markets would be the focus of its electrification goal for new vehicles.

In his interview with CNBC’s “Street Signs Europe,” Uchida also addressed the global shortage of semiconductors affecting the automotive industry, stating that it had “impacted our domestic and our overseas production.”

An increased demand for gadgets and electronic devices during the coronavirus pandemic has contributed to

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Bosch India Flags Severe Shortage Of Critical Components To Indian Automakers

The Indian unit of the world’s largest auto-parts supplier is grappling with a severe shortage of imported components, hampering its ability to cater to the automotive market demand in Asia’s third-largest economy.

“Imports of Bosch India Ltd. has been impacted with severe supply shortage for imported microprocessors (semiconductors), leading to reduced ability to deliver to the automotive market demand in India,” the company said in an exchange filing on Tuesday.

Bosch, which is a key supplier to most Indian automakers, said the steep escalation of demand in consumer electronics industry driven by safety and hygiene sentiments, coupled with the rise of 5G connectivity, has led to surge in global demand of semiconductors.

The supply crunch will have implications for India’s auto industry. “For a lot of OEMs (original equipment makers), they are the single-part vendors, and they have a lot of monopoly in the Indian market,” Puneet Gupta, associate director

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