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Auto industry hardest hit by ongoing global semiconductor chip shortage

The worldwide semiconductor chip shortage continues and the auto industry is one of the hardest hit. But why is there a shortage and how will it affect car buyers in South Africa?
Auto industry hardest hit by ongoing global semiconductor chip shortage

At the height of the worldwide pandemic in 2020, several large-scale semiconductor chip manufacturers paused manufacturing to deal with the health crisis, as did most major manufacturing sectors, automakers included. When restrictions eased, chip manufacturers, by and large, pivoted to deal with the surge in demand for consumer electronics (laptops, mobile phones, gaming consoles, etc.) particularly in the US, from which they derive a higher profit margin.

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