Carmakers across the world continue to battle a very severe chip shortage, but the demand for new vehicles continues to be as strong as it gets.
In some cases, customers are being told to wait up to 24 months for their ordered vehicle to arrive, as manufacturers are struggling not only with the lack of chips but also with uncertainties created by various other factors.
Including the rising interest rates, that is, with Mazda recently estimating that the U.S. market would be hit by a significant drop after the spring of 2023 due to a slowdown of the local economy.
However, the chip crisis continues to remain a major concern for all companies. Mazda says the shortage is so severe that it can’t even see “clearly for the next two weeks,” so it’s hard to predict when the shortage could eventually come to an end.
Other carmakers, however, have tried to guess when this could eventually happen.
Both General Motors and Ford believe global inventory would improve in late 2023, though they warn that the supply could still be disrupted beyond this date.
Previously, tech giant Intel estimated the chip shortage wouldn’t end earlier than 2024.
In the meantime, most carmakers are striving to minimize the disruptions in their daily options using aggressive measures. Toyota has recently stopped providing customers in Japan with two electronic car keys – instead, they get just one smart key and a classic mechanical one – as it tries to reduce the number of chips it uses on non-critical accessories.
Furthermore, the company is also suspending production at several plants in the domestic market, with several popular models affected. Toyota has recently lowered its yearly production target, admitting that the chip shortage makes it harder to anticipate how manufacturing would be impacted even in the short term.
Including the rising interest rates, that is, with Mazda recently estimating that the U.S. market would be hit by a significant drop after the spring of 2023 due to a slowdown of the local economy.
However, the chip crisis continues to remain a major concern for all companies. Mazda says the shortage is so severe that it can’t even see “clearly for the next two weeks,” so it’s hard to predict when the shortage could eventually come to an end.
Other carmakers, however, have tried to guess when this could eventually happen.
Both General Motors and Ford believe global inventory would improve in late 2023, though they warn that the supply could still be disrupted beyond this date.
Previously, tech giant Intel estimated the chip shortage wouldn’t end earlier than 2024.
In the meantime, most carmakers are striving to minimize the disruptions in their daily options using aggressive measures. Toyota has recently stopped providing customers in Japan with two electronic car keys – instead, they get just one smart key and a classic mechanical one – as it tries to reduce the number of chips it uses on non-critical accessories.
Furthermore, the company is also suspending production at several plants in the domestic market, with several popular models affected. Toyota has recently lowered its yearly production target, admitting that the chip shortage makes it harder to anticipate how manufacturing would be impacted even in the short term.