The global microchip shortage has been causing disruptions across various industries, from automobile manufacturing to consumer electronics. The latest numbers show that the shortage is still a major concern, with more North American companies announcing production cuts.
One of the major reasons behind the shortage is the increased demand for microchips as a result of the COVID-19 pandemic. As people spent more time at home, the demand for consumer electronics and other products with microchips increased. At the same time, the pandemic disrupted supply chains, leading to delays in the production and delivery of microchips.
The automotive industry has been hit particularly hard by the shortage, with many companies having to cut production. For example, General Motors announced in March that it would be temporarily closing several of its North American plants due to the shortage. Other car manufacturers such as Ford and Toyota have also been affected.