new Delhi. You may have to wait a long time for new cars due to the ongoing war between Russia and Ukraine. The main reason for this is the Chip Crisis. If the Russia-Ukraine war goes on for a long time, the chip crisis could escalate, affecting the production of vehicles.
Moody’s Analytics says that due to the ongoing military conflict between the two countries, there is a possibility of further disruption of the already disrupted supply chain globally. Its worst effect could be on the ongoing chip crisis. These two countries have a large share in the supply of major raw materials, which are used in making semiconductors.
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Palladium and Neon will increase
According to the report, Russia accounts for 44 per cent of the global supply of palladium. Ukraine contributes 70 percent of the global supply of neon. Both these raw materials are mainly used in making chips. Moody’s says that if the military crisis between Russia and Ukraine deepens, then the chip crisis is likely to be badly affected, which has been affected by the onset of the epidemic.
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These industries will also be affected
Palladium and neon are mainly used in making semiconductors. They are used prominently in almost every industry such as automotive, mobile phones and consumer electronics including many other industries. All these industries can be affected due to the chip crisis.
There was an improvement in the situation
The Russo-Ukraine war accelerated when the chip supply situation was improving. Retail sales of passenger vehicles declined by 10 per cent year-on-year in January 2022, as production of automobile companies was affected due to chip shortage. However, there was an improvement in the situation in February. However, due to the possibility of increasing chip shortage going forward, there is a possibility of impact on sales as well.
Tags: Russia ukraine war
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