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Infineon expects 2.5 million ‘lost cars’ due to chip shortage

(Bloomberg) – According to German semiconductor maker Infineon Technologies AG, around 2.5 million cars will not be produced in the first half of 2021 due to the continuing shortage in the supply chain. after reducing orders due to the pandemic. Now that the demand for consumer electronics companies and cars is back, companies like Infineon are increasing their supply. “There are about 1.5 million unbuilt cars in the first quarter and 1 million unbuilt vehicles in the second.” Marketing director Helmut Gassel said Tuesday during a call with analysts. “This is, in our opinion, the best estimate that currently exists.” Infineon released its results on Tuesday, which were boosted by strong demand, but warned of lingering bottlenecks in a manufacturing supply chain that is operating at “full speed.” “The semiconductor market is booming,” said Reinhard Ploss, CEO of Infineon. However, he added that there are “bottlenecks in segments where we depend on chips supplied by foundries, especially in the case of automotive microcontrollers and IoT products.” On Monday, the CEO of Intel said the global semiconductor shortage is likely affecting a wide range of industries. will not be resolved for a few years. Ford Motor Co. announced Monday that it would halt production at its German factories for several weeks due to a lack of semiconductors. Rival STMicroelectronics NV last week reported strong demand for automotive and electrical products in the first quarter. STMicro CEO Jean-Marc Chery said automotive demand “rebounded from Q4 2020 much faster than expected and resulted in supply chain constraints across the automotive industry. semiconductors. Sales in the first quarter of 2021 reached 2.7 billion euros ($ 3.25 billion), against an average analyst estimate of 2.69 billion euros. Infineon previously guided second quarter revenue between € 2.5 billion and € 2.8 billion, while third quarter revenue is expected to be between € 2.6 billion and 2.9 billion euros, the company said. Infineon said its second quarter revenues were particularly strong in its automotive segment. Infineon shares fell 4.4% on Tuesday morning. possibility of short-term upgrades, ”Citigroup Inc. analysts said in a note to customers. Here’s why: QuickTake (updates with additional context, shares.) For more articles like this please visit us at bloomberg.com Subscribe now to stay ahead with the most popular source of business news. More reliable. © 2021 Bloomberg LP

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