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    DETROIT (AP) — For the first time in eight months, the global shortage of computer chips won’t force General Motors to close any North American factories. The company said Friday that starting Nov. 1, all plants that had been closed on and off since February because of the shortage will be cranking out vehicles. The nation’s largest automaker and the...
    A GLOBAL chip shortage is wreaking havoc on the tech industry. Everything from smartphones and PlayStation consoles to cars and washing machines rely on the tiny semiconductors - the brains of every electronic device. 2The world is facing a major chip shortageCredit: Reuters Why is there a global chip shortage? The shortage has been looming for several years...
    Tesla's controversial Cybertruck will go into 'volume production' in 2023, according to CEO Elon Musk. Addressing shareholders at Tesla's annual meeting last week, Musk said 'several supply chain shortages' have likely delayed outputs of the electric pick-up beyond 2022, with prices set for around $40,000 to $70,000 in the US. It comes after the electric car company boss said last...
    You may have heard a thing or two about a “chip shortage.” No, not the barbecue kind. We’re talking a lack of chips that’s roasting certain businesses like the auto industry. READ MORE: Fourth Stimulus Check: Is Another Relief Payment Coming Anytime Soon?CBS 2 Morning Insider Lauren Victory takes us inside the local impact of a global problem. Drive by...
    Tesla has increased prices for its Model 3 and Model Y in the US by another $2,000 - the seventh time the models have seen a price jump this year.    Industry experts speculate the increase is due to the global chip shortage that is expected to linger until 2023. Now the cheapest Model 3 is the Standard Range Plus,...
    GlobalFoundries campus in Malta, N.Y.Mary Thompson | CNBC GlobalFoundries, the world's third-largest semiconductor foundry, is headed for a U.S. IPO, as the Abu-Dhabi-owned company bolsters investments in its U.S. manufacturing sites. In its prospectus filed with the SEC on Monday, GlobalFoundries said Mubadala, a United Arab Emirates state investment fund, will list its shares on the Nasdaq and "continue...
    In this article MRVLNarumon Bowonkitwanchai | Moment | Getty ImagesThe semiconductor chip shortage that is hamstringing the production of products ranging from cars and computers to appliances and toothbrushes will extend into 2022 and potentially beyond that, the CEO of semiconductor company Marvell Technology said. "Right now, every single end market for semiconductors is up simultaneously; I've been in this...
    PALO ALTO (AP) — Tesla says it delivered 241,300 electric vehicles in the third quarter even as it wrestled with a global shortage of computer chips that has hit the entire auto industry. The Palo Alto, California, company’s sales from July through September beat Wall Street estimates of 227,000 sales worldwide, according to data provider FactSet. READ MORE: Magnitude 3.5...
    PALO ALTO, Calif. (AP) — Tesla says it delivered 241,300 electric vehicles in the third quarter even as it wrestled with a global shortage of computer chips that has hit the entire auto industry. The Palo Alto, California, company’s sales from July through September beat Wall Street estimates of 227,000 sales worldwide, according to data provider FactSet. Third-quarter sales rose...
    (CBS DETROIT) – The chip shortage crisis is easing up and General Motors and Stellantis confirm they’re restarting production at some North American plants. GM’S Lansing Grand River Plant is jump-starting production of the Chevrolet Camaro, Cadillac CT4, and Cadillac CT5. READ MORE: Navy’s USS Carl M. Levin Christening Set For Saturday, Oct. 2Meanwhile, production at the Delta Township Assembly...
    DETROIT (AP) — In a normal month before the pandemic, Con Paulos’ Chevy dealership in Jerome, Idaho, sold around 40 new vehicles. In September, it was only six. Now he’s got nothing new in stock, and every car, truck or SUV on order has been sold. Last month, what happened at his dealership about 115 miles (185 kilometers) southeast of...
    New York (CNN Business)New car sales plunged over the last three months in the United States despite strong demand, as the shortage of computer chips and other supply chain issues caused shutdowns at auto factories and choked off the supply of vehicles.General Motors reported sales fell a third from a year-ago last quarter, and they were off 40% from the...
    An American flag flies at a Chevrolet dealership on August 4, 2021 in Glendale, California. In spite of a computer chip shortage, General Motors (GM) posted a $2.8 billion net profit in the second quarter.Mario Tama | Getty Images DETROIT – General Motors' U.S. vehicle sales during the third quarter plummeted by more than 30% from last year as an...
    Honda Motor Co. vehicles at an AutoNation car dealership in Fremont, California, U.S., on Monday, Feb. 15, 2021. AutoNation Inc. is scheduled to release earnings figures on February 16.David Paul Morris | Bloomberg | Getty Images DETROIT – U.S. auto sales are expected to nosedive in September, driving purchases of new vehicles down in the third quarter by at least...
    Heads up, Cadillac Escalade customers looking forward to hands-free driving. Cadillac's Super Cruise allows for hands-free highway driving. (FoxNews.com) The luxury brand has temporarily suspended the availability of the model's Super Cruise highway driving system, which allows for hands-off operation on certain highways, due to the semiconductor chip shortage affecting the industry. A Cadillac spokesperson told CNET that the...
    Katherine Tai, U.S. trade representative, from left, Gina Raimondo, U.S. commerce secretary, Antony Blinken, U.S. secretary of state, Valdis Dombrovskis, trade commissioner for the European Union (EU), and Margrethe Vestager, competition commissioner of the European Commission.Bloomberg | Bloomberg | Getty Images LONDON — The United States and the European Union have agreed to a "rebalancing" of global supply chains when...
    New York (CNN Business)For a year and a half, a lack of computer chips has been plaguing the auto industry, forcing plants to shut down, delaying auto shipments and sending car prices through the roof. But that's not the only problem automakers face.Industry experts say automakers are having trouble getting all manner of parts and raw materials for a variety...
    Lisa Su, CEO, AMDScott Mlyn | CNBC The global chip shortage will become less severe in the second half of 2022, AMD CEO Lisa Su said on Monday, though she warned that the first half of the year will be "likely tight." Chipmakers are still catching up to demand following severe supply chain bottlenecks created by the pandemic. But manufacturing...
                      by Ailan Evans  The global chip shortage is beginning to impact consumers, driving up prices of smartphones, vehicles and personal electronics as manufacturers struggle to keep up with rising demand. “We’re seeing 5% to 10% price increases right now,” Glen O’Donnell, vice president and research director at Forrester, told the...
    We're only four days away from Apple's next product launch, but iPhone rumors are still running wild in advance of the September 14 'California streaming' event. The latest states Apple will switch up color options on the Phone 13 lineup, offering the standard and mini editions in pink, replacing the green available for iPhone 12. The iPhone 13 mini and...
    In this article GMGeneral Motors Co. Chevrolet Traverse sports utility vehicles (SUV) sit on the assembly line at the company's Lansing Delta Township Assembly Plant in Lansing, Michigan, on Friday, Feb. 21, 2020.Jeff Kowalsky | Bloomberg | Getty ImagesGeneral Motors' vehicle sales and production will be hit harder by the global chip shortage during the second half of the year...
    The global chip shortage is beginning to impact consumers, driving up prices of smartphones, vehicles, and personal electronics as manufacturers struggle to keep up with rising demand. The shortage has also been devastating for vehicle manufacturers, with automakers General Motors and Ford forced to halt production and temporarily close assembly plants in early September due to a lack of...
    CNBC.com's Pippa Stevens brings you the day's top business news headlines. On today's show, CNBC.com's MacKenzie Sigalos explains El Salvador's rollout of bitcoin acceptance nationwide, and why some citizens are protesting the move. Plus, opening statements are set to begin in the trial of former Theranos CEO Elizabeth Holmes. Bitcoin tumbles nearly 10% as El Salvador adopts it as legal...
    The global chip shortage that has caused supply shortages in the car industry and other sectors might slow down the economy for a longer period than expected, auto executives said. “We are relatively weak because of semiconductor shortages,” Volkswagen CEO Herbert Diess told CNBC at the Munich Motor Show in Germany on Monday. “We are hit more in China than...
    TOLEDO, Ohio -- Back in the spring, a shortage of computer chips that had sent auto prices soaring appeared, finally, to be easing. Some relief for consumers seemed to be in sight.That hope has now dimmed. A surge in COVID-19 cases from the delta variant in several Asian countries that are the main producers of auto-grade chips is worsening the...
    Back in the spring, a shortage of computer chips that had sent auto prices soaring appeared to be finally easing. Some relief for consumers seemed to be in sight. But that hope is now fading, as a surge in COVID-19 cases from the Delta variant in several Asian countries is worsening the supply shortage, further delaying a return to normal...
    In this article VOW3-DETechnicians work in the assembly line of German carmaker Volkswagen's electric ID. 3 car in Dresden, Germany, June 8, 2021.Matthias Rietschel | ReutersCar manufacturers including Ford, Volkswagen and Daimler are still struggling to deal with the impact of the global chip shortage, with executives from each of the companies warning a lack of silicon is likely to...
    London (CNN Business)CEO Herbert Diess wants electric cars to make up half of the Volkswagen Group's sales in 2030, and 100% of its sales in major markets should be zero-emission by 2040. To achieve those goals, he has to dramatically shift one of the world's largest carmakers away from the internal combustion engine.Diess spoke to CNN Business from the International...
    TOLEDO, Ohio (AP) — Back in the spring, a shortage of computer chips that had sent auto prices soaring appeared, finally, to be easing. Some relief for consumers seemed to be in sight. That hope has now dimmed. A surge in COVID-19 cases from the delta variant in several Asian countries that are the main producers of auto-grade chips is...
                      by Sebastian Hughes  General Motors will shut down production at the majority of its North American plants for up to two weeks due to a worldwide chip shortage, the Detroit Free Press reported. A fraction of GM plants will remain open to continue making its most profitable vehicles with the...
    David Paul Morris | Bloomberg | Getty Images Being in the market for a new car right now is challenging, to say the least. Heading into the long Labor Day weekend, transaction prices remain elevated. While the three-day stretch normally marks when dealerships hold big sales events to clear their lots and make room for next year's models, low inventory...
    General Motors will shut down production at the majority of its North American plants for up to two weeks due to a worldwide chip shortage, the Detroit Free Press reported. A fraction of GM plants will remain open to continue making its most profitable vehicles with the chips GM has on hand, according to Detroit Free Press. The lack of...
    By TOM KRISHER | The Associated Press DETROIT — The global shortage of computer chips is getting worse, forcing automakers to temporarily close factories including those that build popular pickup trucks. General Motors announced Thursday that it would pause production at eight of its 15 North American assembly plants during the next two weeks, including two that make the company’s...
    DETROIT (AP) — The global shortage of computer chips is getting worse, forcing automakers to temporarily close factories including those that build popular pickup trucks. General Motors announced Thursday that it would pause production at eight North American plants during the next two weeks, including two that make the company’s top-selling Chevrolet Silverado pickup. READ MORE: Fourth Stimulus Check: Will...
    In this article FVIDEO4:1304:13Ford's August auto sales down 33.1%Squawk on the StreetDETROIT – U.S. sales of Ford Motor's new vehicles last month declined by 33.1% from a year earlier due to an ongoing global shortage of semiconductor chips that's wreaking havoc on the automotive industry, the company said Thursday. The Detroit automaker's sales capped off a dismal month of U.S....
    DETROIT (AP) — The global shortage of computer chips is getting worse, forcing automakers to temporarily close factories including those that build popular pickup trucks. General Motors announced Thursday that it would pause production at seven North American plants during the next two weeks, including two that make the company’s top-selling Chevrolet Silverado pickup. Ford will stop making pickups...
    Trucks come off the assembly line at GM's Chevrolet Silverado and GMC Sierra pickup truck plant in Fort Wayne, Indiana, July 25, 2018. John Gress | Reuters DETROIT – General Motors is once again significantly cutting production at its North American plants due to the semiconductor chip shortage, signaling the global parts problem remains a serious issue for the automotive industry....
    In this article 9868-HK NIO L87A-FF VIDEO1:5001:50Nio cuts third-quarter delivery forecast as chip shortage bitesSquawk Box AsiaGUANGZHOU, China — Nio and XPeng deliveries dropped in August as the chip shortage and supply chain constraints hit the Chinese electric vehicle makers. Li Auto was the only company out of the three to register month-on-month growth. Nio delivered 5,880 vehicles in...
    In this article FFord Motor Co. displays a new 2021 Ford F-150 pickup truck at the Rouge Complex in Dearborn, Michigan, September 17, 2020.Rebecca Cook | ReutersDETROIT – Ford Motor is once again cutting production of its F-150 pickup truck and other highly profitable vehicles due to the ongoing global shortage of semiconductor chips. The automaker informed employees Wednesday of...
    The cost of electronic gadgets is set to rise after the world's biggest chip maker announced it has to increase its prices by up to 20 percent because of a global parts shortage. Taiwan Semiconductor Manufacturing Co. - whose biggest customer is Apple - said its more advanced chips would go up by around 10 percent due to a lack...
    2021 Ford F-150 LimitedFord DETROIT — Ford Motor is once again cutting production of its highly profitable F-150 pickup truck and two other vehicles next week due to the ongoing global shortage of semiconductor chips. The automaker on Thursday confirmed its Oakville Assembly Plant in Canada and the Kansas City Assembly Plant in Missouri will be down the week of...
    Luxury Jaguar XK and F-type automobiles, produced by Jaguar Land Rover Plc, a unit of Tata Motors Ltd., travel along the production line at the company's assembly plant in Castle Bromwich, U.K.Simon Dawson | Bloomberg | Getty Images LONDON — U.K. car production plummeted to a new low last month, marking the worst July performance for the industry since 1956,...
    U.S. officials have approved licenses for China’s Huawei to purchase hundred of millions of dollars of chips for its auto component business, a report from Reuters said Wednesday. The report cites two unnamed sources. From Reuters: Huawei, the world’s largest telecommunications equipment maker, has been hobbled by trade restrictions imposed by the Trump administration on the sale of chips and other components used...
    Toyota has been the last brand to announce that for its factories, because it has no chips to include in its vehicles. What is happening? Years ago, an engine, four wheels, and a steering wheel were all you needed to build a car. These days they are sophisticated computing platforms, Y chip shortage It affects them the same or more...
    PITTSBURGH (KDKA) – There is nothing like that new car smell. But it’s a little bit harder to come by these days. READ MORE: Pittsburgh Weather: Temperatures Begin To Warm Up As Weekend Approaches While many businesses are recovering from the pandemic, the car and truck industry is slower to recover. Early predictions that the recovery would be...
    New York (CNN Business)This quarter was supposed to be when computer chip supply and auto production were returning to normal. Instead, the surge in Covid cases, especially in Southeast Asia, is causing a new round of parts shortages and auto plant shutdowns around the globe. That could keep already astronomical car prices high.Thursday it was Toyota (TM), the world's largest...