The lack of chips and the resulting long delivery times for cars could cost Europe’s car industry up to 100 billion euros this year and last year, according to a study by credit insurer Acredia and Allianz Trade. This also affects Austria, since around 200,000 people are employed in the automotive supply industry and the surrounding area.
In the two years of global semiconductor shortages, car production fell by 18 million vehicles worldwide, with the decline in Europe being and still being greater than in the USA and China. “The economic consequences of the shortage of semiconductors are massive,” says Gudrun Meierschitz, head of the domestic credit insurer Acredia. Chips worth an average of 600 dollars (around 600 euros) are required per vehicle – for the WiFi connection, the parking aid or the electric drive.
“It will be important that chip production is expanded for the car industry, less so for consumer electronics. Because in the car industry, Europe has strong production and a strong end market,” emphasized Meierschitz in a broadcast.