Global Chip Supply Issues May Continue into 2023 and Beyond
Global Chip Shortage to Continue Into, and Beyond 2022
Market speculation on the Global Chip Shortage has resulted in a very poor outlook for consumers in 2022, potentially beyond with leading analysts predicting the shortage to last well into 2023 if not into the middle of the decade.
Long term impact of Chip Shortage on Consumers
While Nasdaq painted a potential boom for investors, cashing in on premium pricing on luxury goods, that spells a bleak outlook for consumers. Nasdaq reported that some publicly traded companies were seeing record profits as supply dries up but demand continues. With chips in everything from the cars we drive to the resources our children use at school, the demand for this technology will not dwindle just because the supply is slow.
But rest assured, stock will be replenished, eventually
As second hand iPads fetch “better than new” prices on Craigslist and GumTree, consumers may feel that all hope is lost. But, some industries are already starting to recover from the chip shortage and are back at full production capacity. In these industries, supply will return to normal, but when depends on the “usual time of production and shipping”.
Toyota Announces New Car Industry on Road to Recovery
“The 300 Series Landcruiser is possibly the most anticipated vehicle of this decade, but supply meant for dealerships, the launch was a whisper, rather than a bang” said Brett Mills of Sunshine Coast Toyota Dealership, Ken Mills Toyota.
Toyota announced that 800,000 new cars were on the production line in December and that the company had secured sufficient chips to return to normal production. The delays on new Toyotas is likely to end in the first half of 2022 while other car manufacturers warn of ongoing delays.