Chip

Lowest October UK Car Output Since 1956 Amid Chip Shortage | Investing News

LONDON (Reuters) – British car output fell by an annual 41.4% last month to its lowest October level since 1956 as the global lack of semiconductor chips and a plant closure hit the sector, according to a trade industry body.

A total of 64,729 cars rolled off British production lines, data from the Society of Motor Manufacturers and Traders (SMMT) showed on Friday.

The fall reflected the global supply chain problems and Honda’s permanent closure of its factory in late July.

Car output in the first 10 months of the year stood at 721,505 vehicles, down 2.9% on 2020 when sites were closed for months as the coronavirus pandemic hit Britain.

Full-year car and van output will be below 1 million for a second consecutive year but is expected to return to above that level in 2022, the SMMT said, citing an independent forecast by AutoAnalysis.

“Britain’s automotive sector is

Read More

Signature Auto Group New York Combats Global Chip Shortage & Supply Chain Issues With Car Lease Exit Program | News

BROOKLYN, N.Y., Oct. 30, 2021 /PRNewswire-PRWeb/ — Signature Auto Group, a premier online car leasing company, with offices in both Brooklyn, NY and Fort Lauderdale, Florida, has been combating the current global chip shortage and supply chain issues with it’s early car lease exit program! The semiconductor chip shortage brought upon by the Coronavirus pandemic, is expected to cost the global automotive industry upwards of $210 billion in revenue in 2021. This issue coupled with a global supply chain slowdown, has caused used car prices to rise, meaning that exiting a car lease early can benefit the car Lessee. Through a seamless online process, Signature Auto Group can offer car lessees’ custom lease exit options.

Supply chain issues around the world have created an even more difficult situation for the automotive industry. Not only are manufacturers not able to build enough cars, they are also struggling to deliver

Read More

Czech car sector to make 250,000 fewer vehicles this year due to chip shortage By Reuters


© Reuters. FILE PHOTO: Cars are parked in the courtyard of Skoda Auto’s factory in Mlada Boleslav, Czech Republic, as the company restarts production after shutting downdue to the coronavirus pandemic (COVID-19) . Picture taken in Mlada Boleslav, Czech Republic, Apr

PRAGUE (Reuters) – Czech car makers will produce quarter a million fewer cars than expected this year due to the global shortage of chips and the automotive sector will lose 200 billion crowns ($9.14 billion) in sales, the Auto Industry Association (AutoSAP) said on Sunday.

AutoSAP said domestic passenger car production dropped by 53.1% in September year-on-year, to 56,157 cars.

It said the chip shortage impact would exceed that of pandemic shutdowns last year, and called on the government to activate an aid programme created amid the coronavirus pandemic last year to compensate firms for wages of idled workers.

AutoSAP said production rose 2.9% year–on-year cumulatively in the January-September

Read More

GM might lose 90-year U.S. sales crown over chip shortage

Automotive News editor Nick Bunkley tweeted on October 1 that according to AutoNews data, General Motors “has been the largest seller of vehicles in the U.S. every year since passing Ford in 1931.” With automakers having turned in light car and truck sales data for the first three quarters of 2021, GM’s 90-year-run might not reach 91. According to AN figures, Toyota was 80,401 vehicles ahead when the October workday started. Worse, GM is so far behind its historic pace that it might only sell enough light vehicles in the U.S. to match its numbers from 1958. 

Meanwhile, the New York Times put a few more salient numbers to the pain GM and Toyota are enduring alongside the the rest of the industry. GM sold 33% fewer cars in Q3 2021 than it did in Q3 2019 during the dark days of the pandemic, 446,997 units this year as opposed

Read More