Semiconductor Shortage Might Cost the Auto Industry $110 Billion | MotorBiscuit

The hits keep on coming for the automotive industry. While the semiconductor chip shortage started last year during COVID-19 complications, the issues have not yet been cleared up. Ford estimates losing between $1 billion and $2.5 billion this year alone.

Why is there a chip shortage?

The global semiconductor chip shortage is expected to cost the industry more than anticipated | Chris Ratcliffe/Bloomberg via Getty Images

CNBC reported that the semiconductor chip shortage could potentially cost the automotive industry $110 billion in revenue for this year alone. In early 2021, CNBC reported that AlixPartners estimated a loss of $60.6 billion due to the shortage. That has since increased 81.5% to $110 billion.

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