FROM BLOOMBERG: Carmakers Face $61 Billion Sales Hit From Pandemic Chip Shortage
The recent delay in semiconductor production is expected to cut global automotive manufacturing by 3% in Q1. This delay could become costly as in-unit electronics make up nearly 40% of a car’s value.
FROM CDO TRENDS: The Impact of AI in the Automotive Industry
Data-fueled AI technology is sweeping the industry at every step of the sales process, from vehicle production and online retailing to better understanding consumer demand.
FROM WARDSAUTO: Car Market Shifting as More Work, Shop From Home
Pre-pandemic, over 40% of passenger miles were logged going shopping and commuting to work. However, as Americans continue to work and shop remotely, many vehicle segments have yet to see a clear drop in consumer demand.
FROM AUTOMOTIVE WORLD: What’s Next for the Automotive Industry in 2021?
Analysts believe 2021 is all about keeping expectations realistic and learning from last year’s lessons in efficiency.