A consulting firm expects a production loss of 3.9 million vehicles globally due to the semiconductor shortage, representing a little more than 4.5 percent of the vehicles automakers planned to build this year.
The semiconductor shortage is expected to cost global automakers 110 billion U.S. dollars in revenue this year, up from 61 billion dollars predicted in January, the Detroit News reported Friday, quoting global consulting firm AlixPartners.
The firm expects a production loss of 3.9 million vehicles globally, representing a little more than 4.5 percent of the vehicles automakers planned to build this year.
Automakers worldwide have been battling the semiconductor shortage since the start of the year. They've halted production at various plants, and even shut down some that make high-demand trucks.
Ford Motor Co. expects to lose some 1.1 million vehicles of its planned production this year. General Motors Co. hasn't provided details on volume impact, but said the shortage could lead to a 1.5-billion-dollar to 2-billion-dollar earnings hit. Stellantis NV lost 11 percent of planned production or about 190,000 vehicles in the first quarter.
AlixPartners expects the situation to normalize with fewer shutdowns by the third quarter, and overtime shifts being scheduled to make up for the losses by the fourth quarter.