Auto industry hit hardest by supply chain disruptions

Executives from the automotive industry say their sector has been severely impacted by COVID-19-related supply chain disruptions. The findings were revealed in a survey conducted by the Economist Intelligence Unit and sponsored by Citi.

Around 51.7% of respondents from the auto sector said disruptions were “very significant.” This was the highest proportion across the six industries covered in the survey. The auto industry was especially affected by a shortage of semiconductors caused by a surge in demand for personal computers and other consumer electronics needed by people working from home during COVID-19 lockdowns.

Other industries surveyed were footwear and apparel; food and beverage; manufacturing; IT, tech and electronics; and healthcare, pharmaceuticals and biotechnology.

The footwear and apparel industry came in second in the survey of 175 supply chain managers. “Very significant” disruptions were reported by 43.3% of those respondents. Only 6.7% of respondents from the IT, tech and electronics sector reported “very significant” disruption.

The survey was conducted in February and March of this year, and more than 70% of respondents were based in Asia.

In the past year, the movement of goods was disrupted by border closures, workplace shutdowns and limited exports due to COVID-19. In recent weeks, major Asian manufacturing hubs, including China and Vietnam, have locked down parts of their countries to try to stem the spread of the more transmissible delta variant of the virus.

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