Back in 2020, when the chip shortage was still a new thing, most industry analysts believed it was only a temporary problem that was supposed to come to an end by the end of the year.
However, the entire world quickly figured out the lack of chips wasn’t necessarily something that could just go away overnight, so the same analysts then predicted a recovery to normal levels at some point in 2021.
Fast-forward to 2022, and here we are still waiting for the crisis to be over, with these experts now believing the pre-2020 chip inventory levels could be achieved in the second half of the year (even though it becomes more and more obvious this isn’t going to happen).
Meanwhile, carmakers out there continue to struggle with the super-constrained inventory, and after General Motors, Ford, Toyota, and others, it’s now Hyundai’s turn to admit it has fallen victim to the chip shortage.
The South Korean company said its March sales dropped no less than 17 percent year-over-year, admitting the lack of semiconductors is the one to blame for the whole thing. Its total sales came down to close to 314,000 vehicles, down from over 378,000 vehicles in March 2021.
In the first three months of the year, Hyundai recorded a decline of 9.8 percent as compared to the same period in 2021.
The South Korean company says it’s not just the chip shortage the one that’s wreaking havoc. The health issue, which is still leading to government lockdowns and restrictions in some regions, continues to be a big concern in the short term.
While Hyundai hasn’t said anything in this regard, the geopolitical tensions have also become a problem for carmakers in Europe, especially as they could lead to more component shortages and supply disruptions that would eventually impact the manufacturing of vehicles as well.
Fast-forward to 2022, and here we are still waiting for the crisis to be over, with these experts now believing the pre-2020 chip inventory levels could be achieved in the second half of the year (even though it becomes more and more obvious this isn’t going to happen).
Meanwhile, carmakers out there continue to struggle with the super-constrained inventory, and after General Motors, Ford, Toyota, and others, it’s now Hyundai’s turn to admit it has fallen victim to the chip shortage.
The South Korean company said its March sales dropped no less than 17 percent year-over-year, admitting the lack of semiconductors is the one to blame for the whole thing. Its total sales came down to close to 314,000 vehicles, down from over 378,000 vehicles in March 2021.
In the first three months of the year, Hyundai recorded a decline of 9.8 percent as compared to the same period in 2021.
The South Korean company says it’s not just the chip shortage the one that’s wreaking havoc. The health issue, which is still leading to government lockdowns and restrictions in some regions, continues to be a big concern in the short term.
While Hyundai hasn’t said anything in this regard, the geopolitical tensions have also become a problem for carmakers in Europe, especially as they could lead to more component shortages and supply disruptions that would eventually impact the manufacturing of vehicles as well.