The chip shortages that have dogged the automobile industry for more than a year are, according to Volkswagen, finally coming to an end. We are about to get a break because those hindered manufacturing from operating as intended, which resulted in significant delays and price increases.
The German automaker stated that there has been "continuous progress" in the supply of microchips, and they anticipate that later in the year, vehicle production will stabilize.
Nio had expressed a similar sentiment, and more recently the American Chip Trade Association CTA echoed it. Volkswagen concedes that the chip scarcity will continue to impact a portion of output in 2023, but the corporation has strategies to deal with the issue.
Since 2020, the vehicle industry has experienced considerable issues with a lack of chips, which has caused waiting periods to occasionally exceed a year. As many buyers could not afford to wait so long, this led to an increase in the price of both new and used cars.
Volkswagen is adamant about doing everything it can to reduce delivery times for its clients even more, and it is moving swiftly to get rid of the backlog of orders.
The good news is that we are finally heading in the correct direction rather than slipping more and further behind. Obviously, this will take some time.
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