As the end of the year nears, the total losses due to the semiconductor shortage are coming into focus.
Dramatically better than 2021, the chip shortage in 2022 represents a big improvement, partially offset by the lower expectations for demand this year. An anticipated soft market next year will also provide a lower starting point for the production outlook. Fortunately, the waning demand for advanced chips following the Covid-19 shutdowns has eased the need for semiconductors in many markets outside of automotive.
