Costly microchip shortage hitting auto sector hard: What to know
Maurice Tsai/Bloomberg
A silicon wafer made by Taiwan Semiconductor Manufacturing Co. at the company s headquarters in Hsinchu, Taiwan.
A microchip shortage that has idled several automaker plants around the globe General Motors hit pause on production in February at three plants that are expected to remain shuttered until at least mid-March and shifting auto supplier production is being blamed on a spending glut on consumer electronics like computers and speakers during the pandemic.
Personal computer sales were up 4.8 percent to 275 million units in 2020, according to data from market research firm Gartner. Last year was the largest bump in PC sales in a decade. In fact, 2020 was the largest year on record for consumer electronics at $442 billion, according to the Consumer Technology Association, known for its popular annual CES conference in Las Vegas.