BMW’s CEO Expects Chip Shortage To Last Into 2023
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A shortage of semiconductors is likely to remain a problem for the auto industry into 2023, German carmaker BMW’s Chief Executive Oliver Zipse said in an interview with newspaper Neue Zuercher Zeitung (NZZ) published on Monday.
“We are still in the height of the chip shortage,” Zipse was quoted as saying. “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.”
BMW said during its annual press briefing in mid-March that it expected the chip shortage to last throughout 2022.
Zipse’s comments echoed similar statements by Volkswagen’s CFO Arno Antlitz on Saturday who said he expected that supply of chips would not be able to meet demand until 2024.
Questions & Answers
Q.Who made the statement about the chip shortage lasting into 2023?
Who made the statement about the chip shortage lasting into 2023?
BMW's Chief Executive, Oliver Zipse, made the statement. He spoke in an interview with the newspaper Neue Zuercher Zeitung (NZZ), which was published on Monday.
Q.What was BMW's previous expectation for the duration of the chip shortage?
What was BMW's previous expectation for the duration of the chip shortage?
BMW had previously expected the chip shortage to last throughout 2022. This was stated during their annual press briefing, which took place in mid-March.
Q.When does BMW expect to see improvements in the chip supply situation?
When does BMW expect to see improvements in the chip supply situation?
BMW's CEO expects to start seeing improvements at the latest next year. However, he also stated that the company will still have to deal with a fundamental shortage in 2023.
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