NXP’s automotive revenue still soaring

Some car manufacturers are still forced to cut back on production because they don’t have enough chips. The shortage is expected to block the production of 7.7 million vehicles this year, according to one estimate. Some cars that do find their way to consumers are lacking features. GM, for example, removed the start-stop function to be able to continue selling cars. Porsche is reportedly putting in dummy chips that will be replaced with the real thing once they’re available.

Despite these widespread issues among car companies, they keep buying chips from NXP. The automotive division of the Eindhoven-based chipmaker reported 1.5 billion dollars in revenue in Q3 2021, up 51 percent year-on-year. With another quarter to go, total automotive revenue this year has already surpassed last year’s. NXP predicts full-year sales will be up 40 percent.