Auto Microchip Shortage to Ease By Late June

If you've been following the auto industry at all over the past few months, you know that automakers are facing a microchip crisis. Basically, they're not getting as many of the semi-conductors as they need and delays are starting to affect production. Dealers' inventories, meanwhile, are not being replenished at the rate they would like.

Already, some manufacturers have had to shut down some plants or reduce the pace of production.

For their part, semiconductor manufacturers are scrambling to meet demand. In an interview on CBS's 60 Minutes Sunday evening, TSMC (Taiwan Semiconductor Manufacturing Co) President Mark Liu said his company should be able to catch up with the "minimum required" customer demand for automotive chips by the end of June.

Taiwan, home to a booming semiconductor industry, is at the centre of efforts to address the problem, and its chipmakers have promised to increase capacity.

Mark Liu also said his community first heard about the shortages in December and the following month began trying to produce as many chips as possible for manufacturers.

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