On Sept. 23, AlixPartners released its latest forecast regarding how much the ongoing semiconductor shortage is costing the worldwide automotive industry. The firm’s updated estimate is that the shortage will cost the industry globally $210 billion in lost revenues this year, up markedly from its estimate in May of $110 billion. In terms of vehicles, AlixPartners is now forecasting that production of 7.7 million units will be lost in 2021, up from 3.9 million in its May forecast. “Of course, everyone had hoped that the chip crisis would have abated more by now, but unfortunate events such as the COVID-19 lockdowns in Malaysia and continued problems elsewhere have exacerbated things,” said Mark Wakefield, global co-leader of the automotive and industrial practice at AlixPartners, said in a statement.
Veranese Promoted to CEO of AMI
With the continued growth and evolution of Advanced Manufacturing International, Inc. (AMI), the