Analyst’s report shows chip makers for advanced systems have prioritized fast-growing and more lucrative artificial-intelligence customers, forcing automakers to pivot quickly.
Jeep maker says it’s prepared for possible future severe semiconductor shortages, as it foresees ballooning demand in industry.
Report forecasts production cuts resulting from issue this year.
Latest in string of production changes blamed on chip shortages.
Continuing chip shortage bedevils world’s biggest carmaker, which falls short of a new record.
Carmaker blames supply-chain issues, inflation for nearly 11% increase.
CEO Carlos Tavares reported he expects the semiconductor supply chain to remain tight until the end of 2023.
Ford isn’t alone in facing cost increases as manufacturers continue to deal with supply shortages.
Shares closed Tuesday at $13.09 apiece, down by 12.3%, shaving $7 billion off the automaker’s market value.
Ongoing shortage forcing brands to trim production, especially in North America.
