Caterpillar may not meet 2021 end-user demand on chip shortage
Caterpillar is the latest vehicle maker to be hit by the global semiconductor shortage, with the company’s CFO saying it may be unable to meet 2021 end-user demand.
Andrew Bonfield said the global semi-conductor shortage may have an impact on the company later this year. The ongoing shortage is not just limited to automobiles, Bonfield said in a phone interview, and it’s something that will compound the matter with Caterpillar expecting a big ramp up in machinery production through the rest of this year.
“At the moment we’re mitigating it. It’s a risk and obviously we’re keeping a close eye on it,” Bonfield said. “What it means is we may not be able to make end user demand this year.”
“Although we haven’t been impacted yet, the global semi-conductor shortage may have an impact later this year.”
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