Chip Crisis Will Affect Automobile Sales for 2 More Years

The onset of the COVID-19 epidemic in March of 2020 has greatly reduced production in the automobile industry, as in every sector. The beginning of the chip problem was the spice of this decrease. However, while the decrease in sales raised questions about when the sector will recover, a statement came from an organization that has a command of the subject.

International credit rating agency Standard & Poor’s stated that the expected recovery in light vehicle sales on a global basis is not very close. The future of the semiconductor shortage reduce the recovery in light vehicle sales in 2 years Expressing that, the company also shared its previously and currently expected growth rates.

90 million can be reached by the end of 2023

The current shortage of semiconductor materials, which we know by names such as the chip crisis, the semiconductor crisis; negatively affected the automobile industry in terms of sales. Explaining that this will affect the post-COVID-19 recovery, Standard & Poor’s said that light vehicle sales Between 2% and 4% per annum in 2021 He said he expects it to increase. Before the chip crisis, this rate was between 8% and 10%.

Again, according to the company’s expectations, light vehicle sales this year will remain below 80 million units. However, before the crisis, this number was predicted to reach 85 million. According to predictions from the same source, the chip crisis will last until 2022. For this reason, the number of sales, which is thought to reach 87 million, was arranged to be 84 million. S&P expects light vehicle sales to slow as semiconductor supply restrictions gradually ease. may reach 90 million by the end of 2023. noted.