Global chip drought hits Apple, BMW, Ford as crisis worsens
By Peter Vercoe Bloomberg,Updated April 29, 2021, 5:37 p.m.
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Prime Toyota-Route 2 has an empty lot that usually is full of inventory but a shortage of microprocessor chips has delayed vehicle deliveries.David L. Ryan/Globe Staff
The global chip shortage is going from bad to worse with automakers on three continents joining tech giants Apple and Samsung Electronics in flagging production cuts and lost revenue from the crisis.
In a dizzying 12-hour stretch, Honda said it will halt production at three plants in Japan; BMW cut shifts at factories in Germany and England; and Ford reduced its full-year earnings forecast due to the scarcity of chips it sees extending into next year. Caterpillar later flagged it may be unable to meet demand for machinery used by the construction and mining industries.
The global chip crisis is going from bad to worse
A wafer of Intel Xeon chips
The global chip shortage is going from bad to worse with car makers on three continents joining tech giants Apple and Samsung Electronics in flagging production cuts and lost revenue from the crisis.
In a dizzying 12-hour stretch, Honda said it will halt production at three plants in Japan for around five to six days next month; BMW flagged it will pause production at its plants in Germany and England; and Ford reduced its full-year earnings forecast due to the debilitating chip shortage, which it sees extending into next year. Automakers are expected to lose tens of billions in revenue this year because of the crisis.
Cape Business News
April 29, 2021
Chip
Source: Google Images
The global chip shortage is going from bad to worse with automakers on three continents joining tech giants Apple and Samsung Electronics in flagging production cuts and lost revenue from the crisis.
In a dizzying 12-hour stretch, Honda said it will halt production at three plants in Japan; BMW cut shifts at factories in Germany and England; and Ford reduced its full-year earnings forecast due to the scarcity of chips it sees extending into next year. Caterpillar later flagged it may be unable to meet demand for machinery used by the construction and mining industries.
The global chip shortage is going from bad to worse with automakers on three continents joining tech giants Apple Inc. and Samsung Electronics Co. in flagging production cuts and lost revenue from the crisis.
In a dizzying stretch of 12 hours, Honda Motor Co. said it will halt production at three plants in Japan for around five to six days next month; BMW AG flagged it will pause Mini car production at its Oxford, England, factory for three days; and Ford Motor Co. reduced its full-year earnings forecast due to the debilitating chip shortage, which it sees extending into next year.
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