The global microchip shortage impacts the worldwide economic future
The tech industry is at a crunch point.
Today, millions of products - cars, washing machines, smartphones, and more - rely on computer chips, also known as semiconductors.
And right now, there just aren't enough of them to meet industry demand. As a result, many popular products are in short supply. About 33,000 vehicles were added to Auto Forecast Solutions’ most recent tally of vehicles cut from automakers’ global production plans because of the microchip shortage and will expect microchip shortage to last until 2024.
The bottom line is: The pandemic accelerated an already precarious situation for chip makers - we're in the middle of a tech boom, supply can't quite keep up - and it won't get sorted out overnight.
It means that all sorts of people, including those seeking a new car, could continue to experience delays and disappointment for months or even years to come.
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