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Semiconductor Shortages and Vehicle Production and Prices

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  • Pawel Krolikowski
  • Kristoph Naggert

Abstract

Vehicle production has fallen since the beginning of the pandemic recession. We investigate reasons for this decline. Manufacturers in this industry cite insufficient materials, including a lack of semiconductors, as increasingly responsible. Demand seems to be less of an issue. In fact, demand has been strong, and together with accelerating prices and sharply declining inventories, it suggests an insufficient supply of new cars. Our best guess is that the materials shortages and their effects on new car prices will subside within the next six to nine months.

Suggested Citation

  • Pawel Krolikowski & Kristoph Naggert, 2021. "Semiconductor Shortages and Vehicle Production and Prices," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2021(17), pages 1-7, July.
    • Handle: RePEc:fip:fedcec:92853
    DOI: 10.26509/frbc-ec-202117
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    Cited by:

    1. Hutter, Christian & Weber, Enzo, 2023. "Russia–Ukraine war: A note on short-run production and labour market effects of the energy crisis," Energy Policy, Elsevier, vol. 183(C).
    2. Jose Ángel Gumiel & Jon Mabe & Jaime Jiménez & Jon Barruetabeña, 2022. "Introducing the Electronic Knowledge Framework into the Traditional Automotive Suppliers’ Industry: From Mechanical Engineering to Mechatronics," Businesses, MDPI, vol. 2(2), pages 1-17, June.
    3. Cavallo, Alberto & Kryvtsov, Oleksiy, 2023. "What can stockouts tell us about inflation? Evidence from online micro data," Journal of International Economics, Elsevier, vol. 146(C).
    4. Chris Campos & Michael McMain & Mathieu Pedemonte, 2022. "Understanding Which Prices Affect Inflation Expectations," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2022(06), pages 1-7, April.
    5. Ali Saadon Al-Ogaili & Ali Q. Al-Shetwi & Thanikanti Sudhakar Babu & Yap Hoon & Majid A. Abdullah & Ameer Alhasan & Ammar Al-Sharaa, 2021. "Electric Buses in Malaysia: Policies, Innovations, Technologies and Life Cycle Evaluations," Sustainability, MDPI, vol. 13(21), pages 1-22, October.

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