The shortage of automotive controller chip goes global

T

The chip shortages faced by automakers worldwide are now also reflected in sales figures. In Japan, sales of cars, trucks and buses fell for the first time in four months. According to the Japan Automobile Dealers Association, annual sales fell 2.2 percent in February.

Due to chip shortages, automakers like Honda and Nissan are forced to temporarily shut down production lines. This puts an additional problem on the Japanese economy after earlier coronavirus restrictions, such as tighter opening hours for bars and restaurants, reduced spending for consumers in the country. Japan’s economy is also expected to contract this quarter.

Car sales in Japan were also hit last month by the earthquake off the coast of Fukushima. This caused Toyota, the largest automaker in the country, to suffer temporary disruptions at some of its factories. The sea quake off the east coast caused millions of people to run out of power.

About the author

Oliver I. Kjeldsen

Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is [email protected]

Add comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

Categories