The chip crisis is hitting during the international automotive market. For auto manufacturers, in fact, the shortage of semiconductors, which has been affecting production for several months, will result in a sharp decline in revenues. Estimates speak of a real collapse of the automotive sector in 2021 that follow the poor results of 2020 due to the pandemic. To clarify the extent of the decline is an analysis of AlixPartner.
The chip crisis will cause huge losses for the automotive sector in 2021
According to analysts, the automotive sector will register a loss of $ 210 billion in revenue to producers on a global scale during the 2021. The impossibility of completing the assembly of the cars, due to the lack of semiconductors, which are increasingly central to the automotive world, therefore risks becoming a huge economic damage for the sector.
Overall, according to the analysis of AlixPartner, nIn the course of 2021, 7.7 million fewer cars will be produced due to the shortage of chips. The effect of the chip crisis appears to be widespread by now. All over the world, car manufacturing plants slow down, causing a reduction in activities compared to expectations and market demands.
The effects are also felt in Italy
Even the Italian production system related to the automotive sector is in trouble because of the chip crisis. In the last weeks, the factories of the Stellantis group of the country have registered several stops due to the shortage of semiconductors. The most striking case is that of Sevel of Atessa, where commercial vehicles are produced. The plant, the absolute reference of the Italian automotive production, was stopped for a few days and resumed work with a cut in the number of weekly shifts which resulted in the non-renewal of the contract for hundreds of temporary workers.