BMW echoes VW in saying chip shortage is here to stay

“We are still in the height of the chip shortage,” BMW CEO Oliver Zipse told the Neue Zuecher Zeitung, “I expect us to start seeing improvements at the latest next year, but we will still have to deal with a fundamental shortage in 2023.”

On Saturday Volkswagen’s CFO Arno Antlitz on Saturday who said he expected that supply of chips would not be able to meet demand until 2024.

“The structural undersupply will likely only resolve itself in 2024,” said Antlitz.

Some bottlenecks will ease towards the end of this year, said Antlitz, but production won’t return to 2019 levels until 2023.

A shortage of semiconductors is expected to remain a problem for the German auto industry into 2023.

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