Chip Shortage Until 2023?

In its analysis of the microchip shortage, the AP reports that “record-high consumer prices for vehicles — new and used — will extend into next year and might not fall until 2023.” CNBC notes the shortage is thought to have been exacerbated by the move to electric vehicles. (A new, smaller vehicle with an internal combustion engine uses around 300 chips; a new electric vehicle can have as many as 3,000 chips.)

This infographic by Visual Capitalist illustrates how dependent the global economy and modern life have become on chip technology, as well as chip manufacturers in Asia. 9/7/2021