The semiconductor shortage continues to slam the brakes on vehicle production, with the latest estimates say 4 million cars have been wiped off production schedules this year.
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Prices are continuing to rise
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After a decade of record-low new-car affordability and drive-away deals, prices continue to rise or remain steady as global vehicle production remains strangled by a worldwide shortage of microchips.
Major car brands including Toyota, Volkswagen, General Motors, Ford, Nissan, and Mazda have announced or foreshadowed production slowdowns due to a sustained shortage in electronics components.
As reported earlier by Drive, the semiconductor shortage has been largely driven by an unexpected surge in demand for new cars in the wake of the coronavirus crisis – and a decision by the electronics industry to pivot to smartphones and other devices to keep their factories running.
Apple’s on-again, off-again plans to develop autonomous car technology appear to be slowly ramping back up again – as plans to partner with Korean giant Hyundai-Kia appear to have stalled. An investi .