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    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,...
    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...
                      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...
    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...
    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...
    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...
    In this article AAPLA store window in Dublin, Ireland, with iPhones and Samsung Galaxy handsets on display.Artur Widak | NurPhoto | NurPhoto via Getty ImagesA global shortage of computer chips has impacted everything from automobiles to video game consoles. And smartphones are looking like they're next on the list. Semiconductors have been in short supply this year, due to a...
    Makoto Uchida, chief executive officer of Nissan, on March 3, 2020.Bloomberg Makoto Uchida, the CEO of Nissan, said Wednesday that the global chip shortage needs to be closely monitored as supply issues are yet to be fully resolved. The Japanese car manufacturer announced in May that it expected to make half a million fewer vehicles in 2021 as a result...
    Apple CEO Tim Cook attends the opening of the new Apple Tower Theater retail store at Apple Tower Theatre on June 24, 2021 in Los Angeles, California.JC Olivera | Getty Images Apple reported a blowout quarter on Tuesday, driven by sales of iPhones, which were up 50% annually to $39.57 billion in sales. That followed the March quarter, where iPhone...
    A close up image of a CPU socket and motherboard laying on the table.Narumon Bowonkitwanchai | Moment | Getty Images LONDON – Newport Wafer Fab, the U.K.'s largest chip producer, is set to be acquired by Chinese-owned semiconductor company Nexperia for around £63 million ($87 million) next week, according to two sources close to the deal who asked to remain...
    CHICAGO (CBS) — A global computer chip shortage is forcing Chicago’s Ford Assembly Plant to remain idle until August. The Torrence Avenue plant at 126th Street has already been closed for most of the spring. Ford said the plant will be down for four weeks starting Monday and will run only two shifts the first week of august. The plant...
    Michaela Rehle | Reuters SINGAPORE — U.S.-headquartered semiconductor manufacturer GlobalFoundries announced Tuesday that it will build a new fabrication plant in Singapore to meet the unprecedented global demand for chips. The new facility will be developed in partnership with the Singapore Economic Development Board and with co-investments from committed customers, GlobalFoundries said. More than $4 billion will be invested into...
    VIDEO3:0303:03Higher end semiconductor chips are expected to face 'inflation consequences'Squawk Box Asia The global chip shortage is causing problems for multiple industries and shows no signs of abating, but don't expect prices for all types of chips to shoot up, says the Asia-Pacific chief economist of research firm Natixis. Car makers have been hit hardest by the shortage, but the...
    THE global PlayStation 5 shortage is likely to continue until next year, leaving frustrated gamers unable to get their hands on a new console for months to come, according to one expert. Sony's machine has been largely out of stock since November and probably won't be available any time soon due to a shortfall in supply of microchips. ...
    LAWRENCE (CBS) — Car dealerships around the country are running low on new inventory. It’s all because of a global shortage of electronic chips, which are needed to manufacture cars and trucks. Charlie Daher, owner of Commonwealth Motors in Lawrence, said he has never seen anything like this in his decades in the car business. READ MORE: Pure Empathy: Three...
    MIAMI (CBSMiami) – A global shortage of an essential piece of technology may lead to less vehicles on South Florida car lots and consumers digging deeper into their pocket for a new ride. “We’re concerned and we’re cautious,” says Jonathan Chariff, CEO of South Motors. READ MORE: Gun Sales On Pace For Record Year Chariff is hoping his dealerships will...
    A group of senators will unveil a $52 billion proposal Friday that would hugely increase the research and production of U.S. semiconductor chips over the next five years and make the country less dependent on unstable foreign sources like China. Sens. Mark Kelly, an Arizona Democrat, John Cornyn, a Texas Republican, Mark Warner, a Virginia Democrat, and Tom Cotton, an...
    New Delhi (CNN Business)As the world grapples with a shortage of semiconductors, South Korea's chipmakers are spending huge amounts of money to shore up their production in the decade ahead. Samsung (SSNLF) and SK Hynix on Thursday announced plans to expand their investments in semiconductors through 2030 by allocating tens billions of dollars of new money to the sector. Samsung...
    The Infineon logo can be seen on a chip on the board of a microcontroller kit at the Infineon Annual General Meeting in the Congress Center of the Munich Exhibition Center. Infineon is seen as one of Europe's key technology firms in the semiconductor space.Matthias Balk | picture alliance | Getty Images Semiconductors will be in short supply for some...
    CHICAGO (CBS) — They run everything for kids’ toys to ovens to computers, but there is a global shortage of microchips. CBS 2 is Working for Chicago and has learned the scramble to make more microchips could last almost two years. Companies that are out of chips may soon be out of ways to make money. The globe is short on them because during the...
    Commerce Secretary Gina Raimondo will reportedly meet with senior auto industry leaders next week to discuss the global semiconductor chip shortage, which has significantly slowed down car production. The meeting will include top leaders from General Motors, Ford Motor, and Stellantis, the owner of Dodge and Chrysler, according to Reuters. "We need to get back into the business of making...
    A close up image of a CPU socket and motherboard laying on the table.Narumon Bowonkitwanchai | Moment | Getty Images The severity of the global chip shortage has gone up a notch over the last few weeks and it's now looking as though millions of people will be impacted.  As technology has advanced, semiconductor chips have spread from computers and...
    New York (CNN Business)General Motors posted strong first-quarter earnings and said it's on track to hit the high end of its full-year profit target despite the computer chip shortage dogging the industry.GM (GM) posted net income of $3 billion, about 10 times what it posted in the same quarter a year ago, when it was hit by the beginning of...
    Despite the best efforts of chip makers, the production crisis sparked by a global shortage in semiconductors is getting worse. Demand has outsripped supply in the wake of a pandemic-induced buying spree that saw the public snap up everything from gaming consoles to TVs during lockdowns. As a result, many of the tech products that rely on these chips —...
    London (CNN Business)Even America's biggest company can't save itself from a global shortage of crucial computer chips.What's happening: Apple (AAPL) just had a massive quarter thanks to sales of new iPhones, iPads and MacBooks, with revenue nearly hitting $90 billion. Sales of iPhones reached nearly $48 billion, a 65% increase over the same quarter last year, as consumers continued shelling...
    The supply of PS5 and XBox consoles as well as electric cars, TVs, laptops, printers and 5G phones could be hit for up to 18 months due to a global shortage of microchips after a Taiwan mega-factory was scuppered by Covid-19, Trump's Chinese trade war and even a natural disaster.  Apple, Sony, Samsung, Epson, Microsoft, Ford, Toyota and Volkswagen are among...
    In this article VOLV.B-SE RNO-FR DAI-DE 2020 Land Rover DefenderSource: Land RoverLONDON – The global chip shortage is continuing to wreak havoc at some of the world's biggest carmakers. Britain's Jaguar Land Rover announced Thursday that it has been forced to stop car production for a "limited period" at its Castle Bromwich and Halewood manufacturing plants in England as...
    SANTA CLARA (CBS SF / CNN) — Intel has a plan to help alleviate the global chip shortage that has hampered the automotive industry, among others. CEO Pat Gelsinger told Reuters on Monday that Intel, headquarted in Santa Clara, is in talks with companies that design chips for carmakers about manufacturing those chips in its factories. Intel could be producing the...
    The U.S. flag and a smartphone with the Huawei and 5G network logo are seen on a PC motherboard in this illustration taken January 29, 2020.Dado Ruvic | Reuters Huawei said Monday that it believes U.S. sanctions on the company are partly to blame for the ongoing global chip shortage. Eric Xu, Huawei's rotating chairman and CEO, said the sanctions...
    In this article F FORD General Motors employees work on the assembly line at Fairfax Assembly & Stamping Plant in Kansas City, Kansas.Jim Barcus for General MotorsClarence E. Brown has experienced union strikes, plant shutdowns and layoffs due to parts shortages during his 47 years working for General Motors. But Brown, president of a United Auto Workers local chapter...
    Apple has delayed the production of some MacBook and iPad models due to the global chip shortage affecting the electronics and automotive industries, according to Nikkei Asia. For the MacBook, the supply chain issue has affected a key manufacturing step wherein components are mounted on printed circuit boards before the laptop’s final assembly. Meanwhile, iPad production has been pushed back...
    Apple has not been spared the effects of the ongoing global component shortage, according to a new report in Nikkei. The publication says that some production of MacBooks and iPads has been delayed, with “a portion of component orders” pushed back to the second half of 2021. The issue with MacBooks is said to be related to the ability...
    In this article XPEV LI NIO Employees make checks at an inspection line during a media tour of the Nio Inc. production facility in Hefei, Anhui province, China, on Friday, Dec. 4, 2020.Qilai Shen | Bloomberg | Getty ImagesBEIJING — Chinese electric car start-up Nio said Friday it is shutting a factory for five days due to the global...
    THE PS5 shortage could get worse as chip-makers struggle to meet demand. Sony's PlayStation 5 has been largely out of stock since November – and might not be widely available until July. 2PlayStation has hinted that shortages could be improved by JulyCredit: Sony PlayStation Much of this is being blamed on a global "crisis" in the computer chip world. Demand...
    The global chip shortage will deal a major blow to smartphone manufacturing firms. And while recent reports suggest that Apple was more prepared than several of its rivals, another situation once again calls into question the pace of production of the company’s iPhones. Chip shortage affects smartphone production According to a report shared by Nikkei Asia, Samsung has had more...
    Ford Motor Co. displays a new 2021 Ford F-150 pickup truck at the Rouge Complex in Dearborn, Michigan, September 17, 2020.Rebecca Cook | Reuters Ford Motor on Thursday said the global shortage of semiconductor chips and winter storms impacting the availability of other parts in the U.S. are causing it to cancel shifts at two plants and build F-150 pickups...
    The logistics changes due to the irregular situation during 2020, have left as a consequence the threat of a shortage of chips useful in various industries such as automotive and technology. This situation has been the object of concern for some months, by several firms, and although Apple does not escape being affected, it is considered better armored than the...
    Hong Kong (CNN Business)The global chip shortage is continuing to pummel global business, with Samsung, Honda and Volkswagen among the latest major companies to warn of sustained disruption.On Wednesday, Samsung (SSNLF) co-CEO Koh Dong-jin told investors that the South Korean tech giant was having trouble with its supply chain. The company is scrambling to address the dearth of semiconductors, and...
    Executive Vice President of the European Commission for an Europe Fit for the Digital Age Margrethe Vestager.YVES HERMAN | AFP | Getty Images LONDON — The European Union has plans to become less reliant on technologies traditionally manufactured outside of the bloc, such as the ramping up of chip production. Semiconductors are used in almost all electronic devices, from laptops...
    FCA also reduced production at its Toluca plant due to the same problem, while Volkswagen stopped the assembly of its Jetta sedan in Puebla for a few days. During January and the first days of February, the premium vehicle manufacturer Audi decreased operating shifts at the Puebla plant due to a shortage of chips. The impact of these...
    General Motors employees work on the assembly line at the Fairfax Assembly & Stamping Plant in Kansas City, Kansas.Jim Barcus for General Motors DETROIT — General Motors is extending temporary shutdowns at three of its North American plants due to a global semiconductor chip shortage, which is expected to shed billions off automakers' earnings in 2021. The decision to extend...
    It's not an overstatement to say that semiconductors power the modern world. They're not only a key component of nearly every electronic device we buy and use, they also power the factories that make the electronic devices we buy and use. And now, there aren't enough of them being made. To find a long-term fix, President Joe Biden just ordered...
    A Nio Inc. ES6 electric SUV at a battery swap station inside a parking lot in Shanghai on March 1, 2021.Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese electric car start-up Nio said Tuesday a global chip shortage will force it to manufacture fewer cars in the second quarter. High demand for electronics amid the coronavirus pandemic and...
    By David Shepardson WASHINGTON, Feb.26 (.) – A bipartisan group of eight governors of states with a U.S. auto industry on Friday urged Democratic President Joe Biden to pressure semiconductor companies to tackle a global shortage of chips to cars that has reduced production. The governors of Michigan, Indiana, Ohio, Kentucky, Kansas, South Carolina, Alabama, and Missouri asked Biden in...
    Tesla has told workers it will temporarily halt some production at its car assembly plant in California as it faces a semiconductor shortage, according to a new report. Workers on a Model 3 sedan production line in Fremont were told their line would be down from February 22 until March 7, a person familiar with the matter told Bloomberg News....
    By Nandita Bose and Steve Holland WASHINGTON, Feb 24 (.) – The president of the United States will sign a decree on Wednesday to tackle a global shortage of microprocessors, which has forced automakers and other companies to reduce production and has alarmed the White House and to the congressmen, government officials informed. Officials said the decree will launch an...
    General Motors employees work on the assembly line Friday, April 26, 2019 at Fairfax Assembly & Stamping Plant in Kansas City, Kansas. The Fairfax facility produces the Cadillac XT4 and Chevrolet Malibu.Jim Barcus for GM General Motors believes the worst of a global chip shortage, which has forced automakers to cut production and close plants, is over. The company's...
    A Porsche 911 Carrera 4S stands in the evening light in a drive-in cinema on the circuit of the Leipzig Porsche factory.Jan Woitas | picture alliance via Getty Images Porsche's chief executive warned on Monday that the German luxury automaker's daily operations could be affected over the coming months by a "very serious" global semiconductor shortage. "The semiconductor topic is...
    STOCKHOLM (Reuters) - Truckmaker AB Volvo said on Thursday a shortage of semiconductors has hit production at its factory in Ghent, Belgium, and warned of further stoppages. "This week we have not had any line production. So, no final assembly of trucks in Ghent this week," Volvo spokesman Claes Eliasson told Reuters. The Swedish company, a rival of Germany's Daimler...
    (Reuters) - The global semiconductor chip shortage is not likely to significantly affect the financial profiles of Japan's Toyota Motor Corp or Honda Motor Co, ratings agency Fitch said in a statement on Wednesday. The automakers have enough financial flexibility to absorb more costs and maintain significant rating headroom, even if the shortage persists till the second half of 2021,...
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