Datastream
The Global Chip Shortage Impact on American Automakers
The Briefing
- Delays in semiconductor (chip) manufacturing are hitting vehicle production, with more than 1 million vehicles delayed in North America alone.
- American-based manufacturers Ford, Stellantis and GM are taking the hardest hit, combining for a delay of 855,000 vehicles.
- Modern cars are built with anywhere between 500-1,500 different chips.
The Global Chip Shortage Impact on American Automakers
Chips, or semiconductor devices, are behind all of the world’s increasingly complex electrical and digital devices.
That includes well-known items like computers and smartphones, but also other products that are becoming “smarter” including appliances, watches, and especially cars.
The automotive industry accounts for a large share of global chip consumption, with modern cars having smart and complex entertainment systems, navigation, and sensors. A modern car can have anywhere from 500-1,500 different chips powering its different functions.
But when the COVID-19 pandemic hit in 2020, shifting consumer demands and a slowing economy called for a reduction in semiconductor manufacturing. And unfortunately, it can take the supply chain a long time to come back online, as much as 1.5 years.
American Manufacturers Take the Biggest Hit
As the global economy has started to bounce back and demand for digital devices has increased, the chip manufacturing supply chain has become strained on its still-low supply.
And unfortunately for automakers, cars are taking the brunt of the hit.
Manufacturer | Model | Estimated Volume Impact (10k+) |
---|---|---|
Ford | Ford F-Series | 109,710 |
Stellantis | Jeep Cherokee | 98,584 |
GM | Chevrolet Equinox | 81,833 |
GM | Chevrolet Malibu | 56,929 |
Ford | Ford Explorer | 46,766 |
Stellantis | Jeep Compass | 42,195 |
Ford | Ford Edge | 37,521 |
Ford | Ford Escape | 36,463 |
Ford | Ford Transit | 26,507 |
Stellantis | Chrysler Voyager | 25,728 |
Subaru | Subaru Outback | 23,882 |
Stellantis | Chrysler Pacifica | 19,601 |
GM | GMC Terrain | 18,417 |
GM | Chevrolet Express | 18,268 |
Volkswagen | Volkswagen Jetta | 18,044 |
GM | Chevrolet Colorado | 15,153 |
Stellantis | Ram 1500 | 14,793 |
Stellantis | Jeep Grand Cherokee | 14,731 |
GM | Chevrolet Blazer | 14,418 |
Stellantis | Dodge Charger | 13,492 |
GM | Cadillac XT4 | 12,233 |
Ford | Ford Mustang | 12,019 |
Volkswagen | Volkswagen Tiguan | 12,010 |
Toyota | Toyota Tundra | 11,411 |
Ford | Lincoln Nautilus | 10,601 |
Subaru | Subaru Ascent | 10,508 |
GM | Chevrolet Camaro | 10,489 |
Honda | Honda Civic | 10,206 |
Though most of the world’s major automakers have factory production in North America, American-based manufacturers are estimated to take the hardest hit.
Of the more than 1.1 million vehicles estimated to face production delays, Ford, Stellantis, and GM combine for 855,000. Ford specifically has five of the top 10 models facing delays, including the largest hit: the F-series at 109,710 delayed units.
Manufacturer | Estimated Volume Impact |
---|---|
Ford | 324,616 |
General Motors | 277,966 |
Stellantis | 252,193 |
Subaru | 45,272 |
Volkswagen | 45,215 |
Honda | 42,951 |
Nissan | 41,928 |
Toyota | 23,670 |
Tesla | 6,418 |
Mazda | 6,133 |
COMPAS | 4,200 |
Hyundai | 2,548 |
Volvo | 1,287 |
Other automakers with less production based in North America are facing far softer impacts. Japanese automakers Honda, Nissan, and Toyota are estimated to take a collective hit of 108,549 delayed models, while companies like Hyundai and Volvo have less than 3,000 vehicles impacted.
The biggest reason for the discrepancy? Where each automaker sources and installs its chips. For American manufacturers in particular, the over-dependence on chips coming through China, Korea, and Taiwan has caused the current U.S. government to look for solutions, with the Senate recently approving $52 billion in subsidies for local chip manufacturing.
When the chip shortage will end is currently anybody’s guess, as manufacturers and countries are scrambling to increase capacity. Whether the financial influx from the U.S. will be enough, and how long it will take to affect a very-slow manufacturing process, remains up in the air.
Where does this data come from?
Source: AutoForecast Solutions, Detroit Free Press.
Central Banks
Charted: Public Trust in the Federal Reserve
Public trust in the Federal Reserve chair has hit its lowest point in 20 years. Get the details in this infographic.

The Briefing
- Gallup conducts an annual poll to gauge the U.S. public’s trust in the Federal Reserve
- After rising during the COVID-19 pandemic, public trust has fallen to a 20-year low
Charted: Public Trust in the Federal Reserve
Each year, Gallup conducts a survey of American adults on various economic topics, including the country’s central bank, the Federal Reserve.
More specifically, respondents are asked how much confidence they have in the current Fed chairman to do or recommend the right thing for the U.S. economy. We’ve visualized these results from 2001 to 2023 to see how confidence levels have changed over time.
Methodology and Results
The data used in this infographic is also listed in the table below. Percentages reflect the share of respondents that have either a “great deal” or “fair amount” of confidence.
Year | Fed chair | % Great deal or Fair amount |
---|---|---|
2023 | Jerome Powell | 36% |
2022 | Jerome Powell | 43% |
2021 | Jerome Powell | 55% |
2020 | Jerome Powell | 58% |
2019 | Jerome Powell | 50% |
2018 | Jerome Powell | 45% |
2017 | Janet Yellen | 45% |
2016 | Janet Yellen | 38% |
2015 | Janet Yellen | 42% |
2014 | Janet Yellen | 37% |
2013 | Ben Bernanke | 42% |
2012 | Ben Bernanke | 39% |
2011 | Ben Bernanke | 41% |
2010 | Ben Bernanke | 44% |
2009 | Ben Bernanke | 49% |
2008 | Ben Bernanke | 47% |
2007 | Ben Bernanke | 50% |
2006 | Ben Bernanke | 41% |
2005 | Alan Greenspan | 56% |
2004 | Alan Greenspan | 61% |
2003 | Alan Greenspan | 65% |
2002 | Alan Greenspan | 69% |
2001 | Alan Greenspan | 74% |
Data for 2023 collected April 3-25, with this statement put to respondents: “Please tell me how much confidence you have [in the Fed chair] to recommend the right thing for the economy.”
We can see that trust in the Federal Reserve has fluctuated significantly in recent years.
For example, under Alan Greenspan, trust was initially high due to the relative stability of the economy. The burst of the dotcom bubble—which some attribute to Greenspan’s easy credit policies—resulted in a sharp decline.
On the flip side, public confidence spiked during the COVID-19 pandemic. This was likely due to Jerome Powell’s decisive actions to provide support to the U.S. economy throughout the crisis.
Measures implemented by the Fed include bringing interest rates to near zero, quantitative easing (buying government bonds with newly-printed money), and emergency lending programs to businesses.
Confidence Now on the Decline
After peaking at 58%, those with a “great deal” or “fair amount” of trust in the Fed chair have tumbled to 36%, the lowest number in 20 years.
This is likely due to Powell’s hard stance on fighting post-pandemic inflation, which has involved raising interest rates at an incredible speed. While these rate hikes may be necessary, they also have many adverse effects:
- Negative impact on the stock market
- Increases the burden for those with variable-rate debts
- Makes mortgages and home buying less affordable
Higher rates have also prompted many U.S. tech companies to shrink their workforces, and have been a factor in the regional banking crisis, including the collapse of Silicon Valley Bank.
Where does this data come from?
Source: Gallup (2023)
Data Notes: Results are based on telephone interviews conducted April 3-25, 2023, with a random sample of –1,013—adults, ages 18+, living in all 50 U.S. states and the District of Columbia. For results based on this sample of national adults, the margin of sampling error is ±4 percentage points at the 95% confidence level. See source for details.
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