Paul Caine | July 29, 2021 8:49 pm
A global shortage of computer chips is causing major headaches for American manufacturers.
The COVID-19 pandemic has caused the disruption of supply chains and manufacturing the world over. Manufacturers of computer chips in Asia have been especially hard hit. And that means companies that make products that rely on such chips are feeling the pinch.
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It’s been estimated that U.S. automakers alone will make 1 million fewer cars this year because they’re unable to source the computer chips they need. That in turn has driven up prices of new cars, but also driven a sharp rise in the price of used vehicles as well.