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Analyst’s report shows chip makers for advanced systems have prioritized fast-growing and more lucrative artificial-intelligence customers, forcing automakers to pivot quickly.
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Jeep maker says it’s prepared for possible future severe semiconductor shortages, as it foresees ballooning demand in industry.
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Report forecasts production cuts resulting from issue this year.
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Latest in string of production changes blamed on chip shortages.
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Continuing chip shortage bedevils world’s biggest carmaker, which falls short of a new record.
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Carmaker blames supply-chain issues, inflation for nearly 11% increase.
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CEO Carlos Tavares reported he expects the semiconductor supply chain to remain tight until the end of 2023.
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Ford isn’t alone in facing cost increases as manufacturers continue to deal with supply shortages.
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Shares closed Tuesday at $13.09 apiece, down by 12.3%, shaving $7 billion off the automaker’s market value.
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Ongoing shortage forcing brands to trim production, especially in North America.
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