Semiconductor Chip Crisis To Cost $210B In Auto Revenue Loss

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.