U.S. Automakers Look to Semiconductor Partners
23 Mar 2022
Covid-19 has resulted in wild gyrations in the supply chain with the hard-hit semiconductor industry having a major impact on U.S. auto manufacturing. From its beginning, Covid-19 resulted in auto plants closing around the country while sales of computers and other consumer products skyrocketed. When automakers resumed production, they found fewer chips available to them. In addition, the pandemic and related supply-chain problems depressed sales and drove up prices for new and used cars. However, market analyst IHS Markit sees U.S. auto production stabilizing in 2022 and attributes this to a stabilization in the semiconductor supply chain.