Chip Crisis Worsens for Automakers

The video discusses the ongoing challenges faced by the auto industry due to the COVID-19 pandemic, including production cuts and a chip shortage. It highlights the financial impact, with potential losses reaching $210 billion in 2021. The industry is adapting by changing its approach to supply chains and forming closer ties with chip companies. The situation is expected to persist for months or even years, necessitating significant changes in how automakers produce and sell cars.

What was the estimated financial impact of the chip shortage on world automakers according to Alixpartners?

In what ways are automakers adapting to the current challenges in the industry?