Researchers: Microchip Availability Slowing Truck Production

If you are thinking about buying new trucks this year or even next year, your wait may grow even longer due to the ongoing slowdown of chip production.

In Act Research’s recent release of its Commercial Vehicle Dealer Digest, the market research firm reported less confidence that supply-chain issues will subside enough for commercial vehicle manufacturers to fully meet customer demand.

“Recent commentary from leaders in the semiconductor industry point to a more cautious outlook for longer,” Act President Kenny Vieth stated in a release.

ASML, a key supplier of semiconductor production equipment, recently predicted a significant shortage of semiconductor manufacturing capacity for this year and in 2023, according to Vieth.

“In light of this and other industry commentary, we believe lower-for-longer chip availability is likely to restrain the industry’s ability to meet otherwise-strong customer demand,” he stated.

As an example, Vieth noted that around half of the global supply of neon — which is critical for chipmaking — is located in Ukraine, where production has been down since February due to the war.

“The gases that were purified in Ukraine were generated by Russian steel manufacturers,” he stated. “A scramble to re-source is on and inventories are limited.”