Stellantis CEO Carlos Tavares reported he expects the semiconductor supply chain to remain tight until the end of next year in an interview published in the French newspaper, Le Parisien.
"The situation will remain very complicated until the end of 2023, then will ease a little," Tavares said, adding that "semiconductor manufacturers have an interest in making business with us again, especially as they're raising prices".
Shortages of semiconductor chips, caused in some part by the COVID-19 pandemic, have forced global automakers to scrap production plans for millions of cars. Shortages are easing, but automakers continue to struggle to secure these key components.
In France, shortages continue to weigh on manufacturers' sales. Despite a 5% increase in new car registrations in September, according to the latest industry figures, sales are down nearly 12% since the start of the year.