Chip shortages cost the automotive industry billions

Munich / Nanterre (dpa) – The shortage of microchips and other important electronic components continues to affect the automotive industry.

Due to the lack of semiconductors, the industry is likely to have an overall income of well 210 billion US dollars (179 billion euros), estimated the consulting firm Alix Partners in an analysis presented in Munich. In May, it was still assuming significantly lower global losses (110 billion dollars).

It is unclear how long the delivery problems with chips will last. Faltering supply is currently one of the greatest risks for the automotive industry – vehicles that have been ordered often cannot be completed, and many suppliers also remain under pressure. The lighting and electronics specialist Hella, which will soon belong to the French supplier Faurecia, has cut its business forecast.

Production loss is greater

The production loss in the entire industry is likely to be loud Alix with 7.7 million vehicles will be almost twice as large as previously assumed. In May, a failure of 3.9 million cars was still forecast. Experts at the British research institute IHS Markit had also lowered their latest estimate for the global annual production of cars in the past week.

The Japanese auto giant Toyota announced in mid-September that until the end of March 2022 current financial year 300. 000 fewer units to be able to produce. Daimler CEO Ola Källenius only 2023 expects the situation in the industry to ease significantly.

While car manufacturers can compensate for the production failures in part with higher vehicle prices, suppliers would do something harder, explained Marcus Kleinfeld of Alix Partners. That is why the lack of chips affects them more than the car manufacturers themselves. The suppliers depend in particular on the production volume of the manufacturers.

Hella cuts forecast

This is how the headlight and electronics specialist Hella cut because also his prognosis. Because car manufacturers can build fewer vehicles due to the chip bottlenecks, sales in the current financial year should only reach 6 to 6.5 billion euros by the end of May 2022, announced the MDax company in Lippstadt. So far, the Hella executive board had assumed 6.6 to 6.9 billion euros. Currency effects as well as the purchase and sale of parts of the company are excluded.

In addition, a smaller part of sales is likely to remain as adjusted operating profit at Hella: Management now expects 5 to 7 percent, previously it had Targeted around 8 percent.

The automotive supplier and Continental rival Faurecia also depressed its annual targets. The French are just about to take over Hella. Your turnover will be 15, 5 billion euros, around one billion euros lower than previously thought, it was said in Nanterre. Faurecia also expects the profit in day-to-day business to be at a lower level: instead of 7 percent, according to the updated forecast, only 6 to 6.2 percent of sales should remain as operating income . Initially, the large contract manufacturers switched to semiconductors for consumer electronics during the Corona crisis in order to meet the high demand. In addition, there were production downtimes at chip companies in Japan and the USA as well as corona lockdowns in Malaysia and other Southeast Asian countries. Semiconductors are very scarce worldwide – and the development of new capacities initiated by chip manufacturers for high billions is taking a long time.

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