Bumpy ride: Auto industry stuck with excess semiconductor stock post-pandemic
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A massive chip shortage has now swung all the way to the other end of the spectrum, with automakers sitting on excess semiconductor stock, industry experts said.
On February 3, Eindhoven-headquartered NXP Semiconductors reported a 6% year-on-year decrease in chip consumption by the automotive industry for the December quarter. Geneva-headquartered STMicroelectronics said its revenue in the digital integrated circuits and radio frequency products segment decreased by 22.8% in its Q4 results on January 30, mainly because of a decrease in automotive Advanced Driver Assistance Systems (ADAS) and infotainment.
US firm Microchip reported growth in the latest quarter but said the industrial and automotive sectors are two major sectors going through a big change because of too much inventory and less demand. Another US firm, Texas Instruments (TI), saw mid-single digit automotive market decline due to more pronounced weakness outside China.
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