Chip scarcity prices European automobile trade 100 billion euros – Muricas News

The chip scarcity has resulted in roughly 18 million fewer autos being produced worldwide. In line with Allianz, European automobile producers specifically have been hit laborious. Between January and August 2022, new automobile gross sales have been practically 12 p.c decrease than final yr within the European Union.

The trade has partly introduced the issues on itself, it nonetheless sounds. “To be able to take in the blow of corona, appreciable financial savings have been made. Amongst different issues, by minimizing shares and orders for semiconductors,” says Allianz.

Consequently, the chip producers sought refuge elsewhere and manufacturing was geared to sturdy markets comparable to computer systems and information facilities. “When the automobile market recovered, there was solely a restricted quantity of chips obtainable for the automobile trade,” Allianz notes. The battle in Ukraine and lockdowns in China have exacerbated provide issues.

The insurer expects that the availability of chips in Europe will stay an unsure issue for a very long time to come back. On common, there are about 600 euros price of chips in a automobile, greater than double in comparison with ten years in the past. “That pattern will solely proceed,” mentioned Allianz. Europe should due to this fact absolutely decide to its personal manufacturing of pc chips for the automobile trade, it sounds.