Global microchip shortage impacting car prices, tech industry | News Headlines
ST. CHARLES, Mo. (KMOV.com) — A global microchip shortage is having a major impact on several industries. One of the hardest hit is the auto industry, which relies heavily on the chips.
“I think today it’s almost 40 percent of the vehicles operations need the microchip to function so they’re vital,” said Tim Pundmann, sales manager of Pundmann Ford in St. Charles.
He calls the impact from the microchip shortage “detrimental.”
“When I should typically have close to 300 new cars on the ground, I probably have 50,” said Pundmann.
This comes at a time when demand for cars is high, something chip manufacturing companies underestimated.
“What ended up happening is, they kind of didn’t think the demand would still be there so they canceled chip…