Will have to look at tire charts later tonight:
The global chip shortage has massively disrupted the production of cars since 2020, and despite all analysts’ forecasts and industry expectations, the semiconductor supply has remained extremely constrained in the last few months.
But as it turns out, the chip shortage has started to ease up, with automakers now increasing production after major struggles in the last quarter.
The good news comes from global tire makers, including Bridgestone, Pirelli, Michelin, and Yokohama. All have recently been quoted as saying that the demand for tires increased lately, particularly thanks to global car production gaining more pace.
In other words, the chip inventory is improving, so carmakers build more vehicles. As a result, they need more tires, so everybody in the industry is benefitting from this highly anticipated recovery in the semiconductor market.