Car industry could lose $110 billion in sales due to chip shortage
Posted On: May. 17, 2021 9:31 AM CST
U.S.-based consulting firm AlixPartners LLP said that the global automobile industry could lose an estimated 124 trillion South Korean won ($110 billion) in sales this year due to acute shortage of semiconductor chips, The Donga A Ilbo reported. The new estimate is much larger than the previous estimates of $61 billion in lost revenues. AlixPartners expects output loss of nearly 4 million vehicles this year.