German automotive supplier Vitesco, which is soon to be listed on the country's stock exchange, expects the shortage of semiconductors to have a significant impact on sales during the 2021 financial year.
"This already accounts for a significant amount of our 2021 turnover," chief executive Andreas Wolf told Euro am Sonntag, a business publication.
He said the global shortage of semiconductors had "massively slowed down" the promising prospects for the whole industry.
The global car market is only expected to show single-digit growth this year, rather than in the double digits.
Wolf said he expected two or three tough months ahead, given the bottleneck. "Maybe by early 2022 there will be a slight easing because chipmakers are expanding their capacity," he said. "But that doesn't mean that we will have reached normality by then."
Vitesco, a maker of powertrains which was spun off by automotive supplier and tyre manufacturer Continental, is to be listed on the Frankfurt Stock Exchange on September 16.
Cars which increasingly rely on chips for their complex electronics, saw demand for vehicles fall as the pandemic broke out. Many chip producers switched their focus to other sectors such as information technology manufacturers, or producers of consumer electronics or medical technology.
Carmakers among others are now struggling with bottlenecks as economies recover.
