“Prices will rise even more in the next 12 months.” With these words Luca de Meo, CEO of Renault wanted to warn customers and the automotive sector about another problem that could affect the automotive sector. According to the number one of the Lozenge, the semiconductor crisis and the increase in the cost of raw materials will inevitably lead to an increase in the price lists of cars. What worries the former Volkswagen Group manager is above all the lack of chips, with the critical issues related to procurement that have highlighted a problem that is difficult to solve.
“Producers tend to take advantage of this situation, turning it around in their favor. It will take more than 10 years to generate a semiconductor supply chain in Europe capable of supporting the demand of car manufacturers ” explained de Meo in an interview with the Spanish business newspaper Expansion. The CEO of Renault then pointed out that rising car prices it will be evident already in the coming months, by virtue of the production choices that the car manufacturers are making to cope with the chip crisis: “Car brands have decided to favor the more profitable and more expensive models on which they were able to generate profits in the first half of the year despite the lack of electronic components. On the other hand, there is the issue linked to raw materials, with the price of steel, gas, energy, copper and aluminum which is growing rapidly. “