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Hyundai Confirms the Chip Shortage Remains a Nightmare It Can’t Wake Up From

The chip shortage isn’t going anywhere, that’s for sure, and if anyone still needed more proof on this front, General Motors’ recent announcement over the Fort Wayne plant is pretty much the confirmation in this regard.
Hyundai says its sales are suffering from the lack of chips 10 photos
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The American carmaker is temporarily shutting down the plant because of the lack of semiconductors, with the operations expected to resume later this month.

Just like General Motors, Hyundai has a hard time dealing with the disruptions caused by the chip crisis, and at the end of the day, the ones to suffer are the monthly sales.

The latest data shared by the company for the month of June unsurprisingly reveal a decline, as Hyundai’s total sales went down 4.5 percent year over year. More specifically, Hyundai sold just a little over 340,500 vehicles in June, down from 356,631 units in the same month of the previous year.

The drop isn’t necessarily that big, but on the other hand, the difference when comparing the first six months of the two years is much more worrying.

Hyundai’s January to June sales this year totaled 1.87 million units, whereas in the first six months of 2021, the company sold over 2 million vehicles. The difference represents a drop of 7.6 percent in 2022.

The carmaker itself has confirmed that the chip shortage has a big impact on its production and sales, and right now, it’s hard to tell when exactly the crisis could come to an end.

In fact, nobody can tell this for sure, though tech giants like Intel don’t believe the global inventory can reach the pre-2020 levels sooner than 2024. In other words, we’re only halfway through the chip shortage, with carmakers across the world to continue the struggle for approximately two more years.

Most companies, however, expect significant improvements in terms of inventory in the second half of this year.

 
 
 
 
 

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