- The ongoing semiconductor crisis will likely cost the global automotive industry $210 billion in lost revenues in 2021, up from its May estimate of $110 billion, AlixPartners projects.
- AlixPartners forecasts that production of 7.7 million units will be lost in 2021, up from 3.9 million in its May estimate.
- The COVID-19 lockdowns in Malaysia and continued problems elsewhere have heightened the chip crisis.
- The estimate also factors many extraordinary disruptions, including resin and steel shortages and labor shortages, sparing no error for automakers and suppliers.
- Related Content: Toyota Cuts Production Outlook Owing To Chip Shortage
- Price Action: TM shares closed lower by 0.17% at $181.59 on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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