Chip Shortages into 2023 Part of a Perfect Storm Sweeping Away Old Car Companies
The world lost 11.3 million units of production in 2021 because of the chip shortage, according to AutoForecast Solutions. IHS predicts chip shortages will mean 7 million fewer cars in 2022 and 1.6 million in 2023. The shortage of cars has increased the average selling price of the remaining new cars that were made and …