The semiconductor crisis emerged in 2020 when a significant number of users asked employees to work remotely. Because of this transition, sales of certain electronics, such as PCs, phones, and printers, skyrocketed, as employees needed new computers and peripherals to remain productive at home.
Chipmakers prioritized orders aimed at their biggest clients, and as a result, car manufacturers ended up facing a fierce shortage of semiconductors.
The effects of this crunch continue to cause production challenges today. Toyota confirmed earlier this week that its January sales were down year-over-year, blaming the constrained chip inventory as the main reason.
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