A board member from Volkswagen warns that the microchip shortage blighting the car industry may last for another TWO years... 😢
– but there’s one further crisis that’s been causing deep, deep problems throughout 2021-22: the global microchip shortage. What started as an inconvenience for those looking to buy a PlayStation 5, Xbox or TV has now made its way to the car industry.
In the UK, sales of new cars are slowing down as supplies of new cars dwindle and waiting list grow. It's no coincidence that used car sales are booming at the moment...The chip shortage is a triple-pronged problem, though the cause of two prongs can be traced back to coronavirus. Just like the car industry, the semiconductor industry was forced to partially shut down because of the pandemic, resulting in a smaller supply of chips than usual.
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