February

Just as the auto industry demonstrated signs of recovery from the shutdowns last spring due to the coronavirus pandemic, an untimely issue regarding a dearth of semiconductor chips has arisen. Because of the global shortage of these silicon chips, nearly every major automaker, including Ford Motor Co, Toyota, and Nissan, have halted some form of car production and furloughed workers. Specifically, Ford and the General Motors Company predict lost earnings due to this unforeseen problem, potentially losing $2.5 billion and $2 billion, respectively.