BMW says they’re ‘not worried’ about global chip shortage

Published

3 years ago

May 10, 2021

With many of us stocking on on gadgets and games during COVID lockdowns, BMW is now facing a shortage of semiconductor chips

The COVID pandemic has added another unlikely victim to its list as BMW faces a shortage of semiconductor chips.

Experts think the shortage is due to the increased supply for video games and gadgets during global coronavirus lockdowns.

“We cannot assume that we will emerge from the second quarter unscathed,” Chief Executive Officer Oliver Zipse said.

BMW “aren’t worried”

Despite the troubled time, BMW says they “aren’t worried” about the chip shortage.

The German carmaker remains on course to meet its profit targets for 2021 despite emerging challenges for the automotive industry. The past year has also seen the cost of raw materials rising.

Zipse also said he did not expect the shortage to have a major impact on production. BMW will respond by prioritising the production of cars with higher profit margins.

BMW forced to halt production

The shortages in chips have resulted in many assembly plants being forced to halt production.

This has driven down the supply of chips – as a result seeing increased prices for both new and used vehicles.

The integral step to entering the property market

Published

21 hours ago

May 20, 2024

ticker NEWS

In the debate surrounding housing affordability, a divergence emerges between media portrayals and stark realities. While the crisis is often depicted as insurmountable, critics argue that individuals tend to blame external factors rather than taking personal responsibility.

Despite challenges, advocates urge a shift from despair to possibility, emphasizing personal agency and proactive pursuit of homeownership goals. Thus, while acknowledging the hurdles, reframing the discourse empowers individuals to navigate the housing market with resilience and determination, making the dream of owning a home a tangible reality for those willing to seize it. #Trending #Featured

Money

LA real estate agent reveals the secret to success

Published

21 hours ago

May 20, 2024

ticker NEWS

What does it take to be a top performing real estate agent?

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark delves into the fast paced world of LA luxury real estate with renowned agent, Glen Coutinho from Rodeo Realty Beverly Hills. #wyld money #trending

Money

Why the meme-stock frenzy is unlikely to repeat

Published

7 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending