Benzinga | Sep 23, 2021 05:55AM EDT

Semiconductor Chip Crisis To Cost $210B In Auto Revenue Loss

* The ongoing semiconductor crisis will likely cost the global automotive industry $210 billion in lost revenues in 2021, up from its May estimate of $110 billion, AlixPartners projects.

* AlixPartners forecasts that production of 7.7 million units will be lost in 2021, up from 3.9 million in its May estimate.

* The COVID-19 lockdowns in Malaysia and continued problems elsewhere have heightened the chip crisis.

* The estimate also factors many extraordinary disruptions, including resin and steel shortages and labor shortages, sparing no error for automakers and suppliers.

* Related Content: Toyota Cuts Production Outlook Owing To Chip Shortage

* Price Action: TM shares closed lower by 0.17% at $181.59 on Wednesday.