Ludwigshafen, Germany — The impact of the global semiconductor chip shortage could be greater than expected, BASF CEO Martin Brudermuller said Wednesday, warning that shortages could also have an impact on chemicals players in the automotive aftermarket.
With slower supply times from manufacturers, BASF reduced its estimate for cars produced in its second-quarter earnings call on July 28.
“I said that already in February that the semiconductor issue is not an issue and a blip for 1 or 2 quarters, but it is a more long-term problem,” Brudermuller said. “We clearly reduced our number for assumption for cars produced. So we are currently thinking about 83 million units to be produced in this year.”
“Semiconductors have a problem, I think here the problem is bigger than assumed,” he said.
Semiconductor buyers like Intel have estimated the shortages could persist through 2023.