Hopefully, that won’t change but given the current environment, anything could happen. It’s not only American automakers affected by the shortage. Toyota, for example, also confirmed earlier this week that it doesn’t expect to reach its manufacturing target of 9 million vehicles for the fiscal year through March.
This is quite the contrast compared to the beginning of the global chip shortage when Toyota announced it had a healthy chip supply on hand. The Japanese automaker began stocking up on chips a few years ago following lessons learned from the 2011 tsunami that devastated parts of Japan. Toyota suffered severe supply issues at the time and stocking up on those chips, an expensive endeavor, became company policy. Ford CEO Jim Farley previously predicted the chip crisis isn’t likely to end before 2023.