Chip Crisis Could Damage Auto Industry $ 110 Billion

The balance sheet began to emerge in the global microchip crisis that has been experienced almost since New Year's Eve. According to the statement made by AlixPartners, one of the leading analysis companies in the sector, it was determined that the crisis, which disrupted production and temporarily closed the doors of factories, will cause a loss of 110 billion dollars to the global automotive industry by the end of the year.

It was also revealed that, according to the forecasts of the analysis company, there will be a loss of approximately 4 million pieces in global production. US-based chip maker GlobalFoundries announced that production could catch up with demand in 2022 at the earliest, although it plans new investments to meet growing demand. At the beginning of the pandemic, the chip industry was expected to grow by 5 percent over the next five years, but now the expectations have been revised and a growth of 10 percent is predicted.