What the Chip Crisis Means for the Auto Industry

The video discusses the ongoing chip crisis affecting the global auto industry, highlighting its impact on production and prices. Toyota, initially thought to have managed the crisis well, is now facing plant closures due to chip shortages. The crisis is exacerbated by shutdowns in Southeast Asia, particularly Malaysia, affecting companies like Ford. The auto industry is lower in priority for chip makers, leading to supply chain challenges. The crisis has led to unprecedented increases in car prices, with used cars now valued higher than before.

What challenges are faced by Ford Motor Company due to the chip crisis?

Discuss the effects of the chip shortage on used car prices.