The world hits you hard when you’re stepping down. This past year has not been kind to the automotive Industry, and now it appears that the woes are getting worse. Another component of vehicle production may put an extensive strain on the companies that keep us moving in the dynamic automotive Industry. The global supply of natural rubber has taken a hit, and the position of automobile manufacturers has gone complicated.
The chip shortage has had a profound effect. Ford announced in March that it was building F-150 pickup trucks without special effective components. General Motors stopped production of the Chevy Colorado and GMC Canyon midsize pickups in late March while temporarily ditching fuel-saving technology on its larger V8-powered trucks. Prices of the Toyota Tundra and Tacoma have risen in response to the chip shortage. The situation has got so weird that Intel has offered some of its resources to enhance the chip shortage.
The automotive Industry has been an emphatic contributor to the growth, and with it facing difficulty this year, it could mean that the global economies of the world start to suffer. It could be a possible scenario if the situation does not boost in the upcoming quarters. Although, the situation is not yet on the same level as current issues with computer chips that have already affected vehicle production.