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Chip shortage expected to cost global auto industry $210B in 2021

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The semiconductor chip shortage that’s roiled the global car market is now expected to cost the industry $210 billion in revenue this year, consulting firm AlixPartners said Thursday.

The revised forecast is nearly double the New York-based firm’s projections from May, when it expected to see $110 billion in lost revenue due to the shortage.

Semiconductor chips are a critical component in new cars that power features ranging from entertainment systems to power steering and brakes.

Supply has been constrained during the COVID-19 pandemic due to shutdowns at factories amid outbreaks as well as surging consumer demand for electronics that use the chips.

“Of course, everyone had hoped that the chip crisis would have abated more by now, but unfortunate events such as the COVID-19 lockdowns in Malaysia and continued problems elsewhere have exacerbated things,” said Mark Wakefield, global co-leader of the automotive and industrial practice at AlixPartners.

Integrated semiconductor microchip.
Semiconductor chips power features ranging from entertainment systems to power steering and brakes.
Alamy Stock Photo

On top of the chip shortage, the industry’s grappling with economy-wide issues like a lack of workers and a steel shortage, Wakefield added.

“There’s no room for error for automakers and suppliers right now; they need to calculate every alternative and make sure they’re undertaking only the best options,” he said in a statement.

The group said it’s now forecasting that 7.7 million units of production will be lost in 2021, up from 3.9 million in its forecast published in May.

New Ford F-Series pickup trucks are stored in a lot.
An estimated 7.7 million units of production will be lost in 2021 due to the shortage.
Jeffrey Scott Dean/Bloomberg via Getty Images

Major automakers, including Ford and General Motors, have warned investors that the chip shortage could hurt their earnings, and have continued to deal with limited production capacity.

While there’s still no end in sight for the shortage, the company’s have managed to make up for the higher costs thanks to strong demand for new cars and surging prices.

The White House is now exploring ways to alleviate the shortage. Commerce Secretary Gina Raimondo and White House National Economic Council director Brian Deese are expected to meet with companies Thursday about the issue.

President Joe Biden (C) speaks during a CEO Summit on Semiconductor and Supply Chain Resilience.
The White House is exploring ways to alleviate the shortage, asking Congress to approve $52 billion in spending to increase US production of semiconductor microchips.
Amr Alfiky/Pool/Getty Images

Executives from Detroit’s Big Three automakers as well as Apple, Daimler, Micron, Microsoft, Samsung and others are expected at the meeting.

The White House has previously said it wants Congress to approve $52 billion in spending to increase US production of semiconductor chips.

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What Time Will ‘Riverdale’ Season 6 Be on Netflix?

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The season finale of Riverdale aired in late July on The CW. Notice we said season finale? Thankfully, the beloved series will return for a seventh season, but, unfortunately, Season 7 will be the final installment of Riverdale.

If you already streamed the current season, make sure to read Alex Zalben’s interview with Riverdale showrunner Roberto Aguirre-Sacasa on Decider. If you’re waiting to binge Season 6 on Netflix, well, you better clear your calendar because all 22 episodes are about to drop on the streamer. What time will the sixth season of Riverdale debut on Netflix? What time does Netflix release shows? Here’s everything you need to know.

WHEN IS THE RIVERDALE SEASON 6 NETFLIX RELEASE DATE?

Riverdale Season 6 premieres Sunday, August 7 on Netflix.

HOW MANY EPISODES ARE IN RIVERDALE SEASON 6?

The sixth season of Riverdale consists of 22 episodes.

WHAT TIME DOES NETFLIX RELEASE NEW SHOWS?

Netflix releases new episodes at 3:00 a.m. ET/12:00 a.m. PT.

WHAT TIME WILL RIVERDALE SEASON 6 BE ON NETFLIX?

Netflix is based out of California, so Riverdale Season 6 will be available to stream at 12:00 a.m. Pacific Standard Time (3:00 a.m. Eastern Standard Time) beginning Sunday, August 7. If the clock strikes 12:00 (or 3:00 a.m. for folks on the East Coast) and you don’t see the new episodes, give it a moment, hit refresh, and then enjoy the show!

WILL THERE BE A SEASON 7 OF RIVERDALE?

Yes! Decider recently covered that very topic.

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Actress Anne Heche Suffers Severe Burns After Crashing Car Into Los Angeles Home

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Actress Anne Heche, known for her roles in such films as Donnie Brasco, Volcano and I Know What You Did Last Summer, was involved in a fiery car crash in the Mar Vista area of Los Angeles on Friday.

According to TMZ, Heche was driving a blue Mini Cooper and had first crashed into the garage of an apartment complex. Residents of the apartment complex tried to get her out of the vehicle but she backed up and sped off.

Footage of Heche speeding down the streets of her neighborhood had been obtained by TMZ as well as her initial encounter at the apartment complex.

In the first clip, you can hear her car crash towards the end. It has been reported that the actress crashed into someone’s home, causing her vehicle and the house to erupt into flames. Heche suffered severe burns and was resisting being taken away in a stretcher. You can also view footage of this via the TMZ article.

It has not been confirmed whether alcohol has been involved in the incident since her condition prevents doctors from performing any tests to determine if she was driving under the influence. She is currently intubated in the hospital but expected to live.

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These are the vulgar license-plate requests the DMV has rejected

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Stay CL4SSY, New York!

The state Department of Motor Vehicles nixed 3,752 requests for vanity license plates in the last three years because it deemed them too raunchy, radical or simply ridiculous.

New York’s personalized plates go for $60 initially, and then $31.25 annually for renewal. You can get any plate as long as no one else has it and it’s not offensive.

Odds are a request for a plate that marks a wedding anniversary or shows your allegiance to a team — like METS86 — will pass muster with the DMV gatekeepers.

Vulgarity won’t get you to first base.

So plates with the phrase LFGM — the acronym for Pete Alonso’s “Let’s F–king Go Mets” rallying cry — did not make the cut.

And you won’t see anyone driving around with the custom plates MILFDAD, AS5M4N and WLHUNG.

Crude meanings such as “MILFDAD” are unacceptable by the DMV.
Crude meanings such as “MILFDAD” are unacceptable by the DMV.
New York DMV
NYC123
New York state Department of Motor Vehicles denied more than 3.5 thousand requests for license plates deemed inappropriate.
New York DMV
“AS5M4N” was rejected for referring to “Ass man.”
“AS5M4N” was rejected for referring to “Ass man.”
New York DMV

The DMV also put NICEBUNS, FATFANNY, GOTAPOOP and BENDOVER in the rear-view mirror.

One player unsuccessfully tried to score the plate YESDADDY, to no avail.

The DMV also shot down such dark requests as DEADGIRL, GENOC1DE, S8TAN, DETONATE and MURDERM3.

“SUM8ITCH” is not allowed.
“SUM8ITCH” is not allowed.
New York DMV
The DMV thoroughly nixed a request for “CNNLIES.”
The DMV thoroughly nixed a request for “CNNLIES.”
New York DMV
BOOBIE is prohibited.
BOOBIE is prohibited.
New York DMV

Getting political is a dead end too — FJOEBIDN, FDTRUMP and CNNLIES were nixed.

LUDEDUDE, NARCO, GOT METH and BLUNT also went up in smoke.

Staten Island attorney Bill Dertinger said his blue 1995 Jaguar SJS was tagged with ESQLTD after his company and his 2014 Porsche had the plate GHOSTGTS because the sleek sportscar was white.

“The plates can make you stand out — which can be a curse or a blessing,” the 54-year-old Dertinger said. “Make sure you don’t cut anybody off.”

A man attempted to sneak in “YESDADDY” onto his license plate.
A man attempted to sneak in “YESDADDY” onto his license plate.
New York DMV
The DMV stopped a request for “FJOEBIDEN.”
The DMV stopped a request for “FJOEBIDEN.”
New York DMV
The DMV also rejects any license plates referring to politics.
The DMV also rejects any license plates referring to politics.
New York DMV

There must be a New York Jets fan playing referee at the DMV because a request for the seemingly innocent plate GASE was sidelined. Ex-Jets head coach Adam Gase had an offensive 9-23 win-loss record during his forgettable two-year tenure.

The DMV would not reveal who gives the final yea or nay.

“The DMV reviews all custom license plate requests and works hard to ensure that any combinations that may be considered objectionable are rejected,” said agency spokesman Tim O’Brien.

“GLOCKS” referring to guns is not accepted by the DMV.
“GLOCKS” referring to guns is not accepted by the DMV.
New York DMV
“FLYMOFO” is not approved by the DMV.
“FLYMOFO” is not approved by the DMV.
New York DMV

He said guidelines on what plate combinations are restricted can be found on the DMV website: https://dmv.ny.gov/learn-about-personalized-plates. Approximately 50,000 personalized and custom plates are sold per year, O’Brien said.

Bagged Tags

The state DMV has rejected 3,752 requests for custom license plates in the last three years because it deemed them potentially offensive. Here are some:

YESDADDY

FJOEBIDN

FDTRUMP

GLOCKS

FLYMOFO

BOOBIE

AS5M4N

BUDLIGHT

DEADGIRL

SUM8ITCH

GENOC1DE

S8TAN

CNNLIES

DETONATE

MURDERM3

MILFDAD

WLHUNG

Source: NYS DMV

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