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Ford CEO Jim Farley Still Confident Chip Shortage Will Ease By 2023

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After more than two years, it’s still anyone’s guess as to when the semiconductor chip shortage might end. Over the past few months, predictions have come from the U.S. Department of Commerce, which expected it to last at least six more months as of January, new car buyers, who believe it will endure through the end of the year, and Volkswagen’s finance chief, Arno Antlitz, who thinks the crisis will last into 2024. Last December, Ford CEO Jim Farley said that he believed the chip shortage will begin to ease at some point in 2023, and he reiterated that belief at the automaker’s 2022 shareholder’s meeting.

Ford CEO Jim Farley

“Although we see the chip shortage easing in the second half of the year, as we scale our battery electric vehicles, we will have new supply challenges in both semiconductors, electronic components in general, and batteries and battery raw materials, so in the near term, we’re going to have to upgrade our talent organization’s capability in working with our supply chain and our engineering team and manufacturing team proactively so that we don’t get ourselves in the situation that we’ve had been in.”

For now, Ford continues to do whatever it can to circumvent the effects of the chip shortage, as it currently has around 53,000 vehicles sitting around awaiting those components. Meanwhile, many new vehicle shoppers are opting to order those vehicles instead of trying to locate them on dealer lots, though many are facing long waits in that regard as well.

In the meantime, Ford has dropped certain models and features from its lineup and is eyeing more deals with chipmakers to secure the critical parts moving forward, though EV startup Rivian recently accused those same suppliers of showing favoritism to larger, more established companies.

We’ll have more on the chip shortage soon, so be sure and subscribe to Ford Authority for non-stop Ford news coverage.

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Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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Comments

  1. NCEcoBoost

    Hope he’s right. However, very interesting that Ford is the only one planning on renegotiating with Chinese suppliers in order to obtain those chips faster. Makes you wonder why Ford and every other manufacturer didn’t do this earlier? Explains why those chips were going to manufacturers of products like smartphones. VERY fishy!

    Reply
  2. Nancy McIntosh

    I just want my Bronco that is sitting on Ice Mountain. It’s my turn

    Reply
  3. donnie

    I BET HE DOES NOT WAIT A YEAR FOR HIS VEHICLE AND THEN PAY 25% PLUS OVER MSRP-WHEN THINGS ARE BAD DO THE CEO’S GIVE UP THEIR BONUS-THAT MONEY COMES FROM US

    Reply
  4. JC

    Ford owes an apology to its loyal customer base, this is no way to conduct business. Now considering moving to a Land Rover

    Reply
    1. Rons47

      Make sure you have some sort of auto care

      Reply
  5. Dennis S

    That’s great for 2023, but what about for this year for customers who have been waiting over 6 months for their orders?
    I , too, want my Bronco! 6 months & counting with no ETA.
    May abandon it for something else. A great product is worthless if you can’t get it.

    Reply
  6. bill henry

    they gave a build date of 5/23 then 5/30 now 6/18 who know

    Reply
  7. Marky Mark

    It’s sad to say but I’m waiting for the economy to crater to buy a new truck. 25 g’s over msrp for a new Raptor? Nope !

    Reply

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