A consulting firm has revealed expectations of huge losses for automakers as a result of a global deficit in semiconductor chips.

Consulting firm Alex Bartners said the global deficit in semiconductor chips would cause automakers to lose revenue of $110 billion this year.

AOC indicated that these losses represented an increase from an earlier estimate of $61 billion, as it expects the crisis to affect the production of 3.9 million cars.

Alex Bartners stated that the chips crisis underscores the need for automakers to be "proactive" at the moment and to create longer-term "supply chain flexibility" to avoid future disruptions.

In the past, automakers had entered into direct supply agreements with producers of specific raw materials, such as precious metals such as palladium and platinum, which were the metals used in exhaust purification systems.

The more direct approach to obtaining the supply of precious metals began after disruptions in terms of supply and price in that market.

The co-chair of Alex Bartners' Global Automotive Department, Mark Wakefield, said that automakers were now looking to have direct connections with semiconductor makers, adding that "these things came out of the blue."

Wakefield explained that, in the past, automakers were reluctant to make long-term commitments to purchase semiconductors or other raw materials and to assume the financial obligations associated with such agreements.

For now, "the danger is real. It's not a "potential risk" for production losses due to semiconductor deficits.

On the other hand, Ford Motor said it was redesigning car parts to use more accessible chips, against the backdrop of global semiconductor deficits.