The Chip Shortage Isn’t Going Anywhere Anytime Soon, Says GM CEO

It’s no secret that car prices have gone through the roof since COVID hit. And to say that the auto industry is relying heavily on semiconductors, chips, and other computer related components would be the understatement of the year. As expected by some, and feared by others, it won’t get easier anytime soon, according to GM CEO.
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Photo: GM
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Back in June, General Motors announced that it wants to go fully electric by 2030. Pieces are already set in motion by the car manufacturer to see this come to fruition, like with the recent announcement of the affordable $30,000 2024 Chevrolet Equinox EV that will hit dealerships in 2023. The same can be said about the 2024 (temporarily named) Buick Wildcat EV.

As a side note, don’t take the Equinox price for granted. The press release clearly stated that the price tag is the suggested retail price (MSRP) with no government or tax incentives. As you might have guessed already, the dealers will have the last say in this matter.

Now returning to our chip shortage woods, last Thursday during a TV morning show appearance, GM CEO Mary Barra predicted how long the unfortunate semiconductor situation would last.

It’s getting a little better, but I frankly think it’s something that’s going to last into next year, maybe a little beyond,” she said. It’s no surprise to anyone that has their ear to the ground that this was inevitably the case. The car industry is not the only one that took a massive hit from the lack of components.

The computer graphic cards and processor manufacturers, along with the video games console companies, or the entire smartphone market, are all trying to get by and secure what chips they can, when they can.

Due to these circumstances, GM halted their Silverado production for an entire week over at the Silao plant in Mexico where they have 8,000 people employed, not even two weeks ago.

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About the author: Codrin Spiridon
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Codrin just loves American classics, from the 1940s and ‘50s, all the way to the muscle cars of the '60s and '70s. In his perfect world, we'll still see Hudsons and Road Runners roaming the streets for years to come (even in EV form, if that's what it takes to keep the aesthetic alive).
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