Continental Expects Chip Shortage To Continue For Many Months 2021-03-12

German auto parts supplier Continental believes the ongoing shortage of semiconductors will not be resolved any time soon.

During a recent video call, Continental chief executive Nikolai Setzer said that the impacts of the shortage will continue to be felt for the rest of the first quarter before starting to ease in the second quarter. With that being said, the shortage will affect some areas of the automotive industry for the rest of the year, Auto News notes.

“[2021] has been subdued so far due to the shortage of semiconductors,” Continental chief financial officer Wolfgang Schaefer said in the earnings call. “The effects of the ongoing coronavirus pandemic remain a source of uncertainty too. All in all, 2021 will therefore remain challenging.”


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