![]() ![]() Once full dealer lots are now sparse, while manufacturers implemented temporary plant shutdowns.Ĭonsulting firm AlixPartners predicted the shortage will hold down vehicle sales through 2024. The semiconductor shortage that started two years ago has had a huge impact. ![]() But the industry may face “a period of painful transition,” he warned during a recent presentation to the Automotive Press Association in Detroit. John Murphy, analyst at Bank of America, summed up the situation as a once-in-a-hundred-year transformation. To stay competitive, automakers and suppliers are having to make multi-billion-dollar investments in the midst of all the uncertainty and disruption.įor now, the biggest issue is navigating the shift from internal combustion engines (ICEs) to electrified powertrains while the computer chips necessary for the transition are in short supply. There is also a persistent shortage of semiconductors that’s lasting longer than originally forecast. ![]() The list of challenges includes evolving supply chain dynamics, new competitors and partners, inflation and recessionary concerns, the fallout from Russia’s invasion of Ukraine, limited energy resources, workforce shortages, changing consumer preferences, and “new normals” stemming from COVID-19. At the same time, it’s dealing with myriad problems and potential game-changing breakthroughs, such as connectivity, car-sharing, autonomous vehicles, and advanced manufacturing. The auto industry is betting its future on electric vehicles. It is the first Ford plant without traditional in-floor conveyor lines, instead using robotic autonomous guided vehicles to move the trucks from workstation to station. Auto industry moves to an EV future while grappling with a problem-filled present The manufacturing technology in Ford’s Rouge Electric Vehicle Center is just as innovative as the new F-150 Lightning pickup. ![]()
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February 2023
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