According to a study result by the German Association of the Automotive Industry (VDA), unless appropriate countermeasures are taken, the continued shortages of semiconductors in the automotive industry could lead to a 20% drop in global production, totaling around 18 million vehicles, by 2026.

In 2021, the shortage caused global automobile production to decrease by 9% year on year.

Hildegard Müller, VDA President, said that the EU chip bill must act now. Europe must invest in the production of automotive-related chips and increase the production of chips, which is the only way to minimize dependence on Asian semiconductors and increase the resilience of the German and European automotive industries.