the global semiconductor chip shortage will cost automakers 110 billion in lost revenues this year up from a prior estimate of 61 billion consulting firm alixpartners said as it forecast the crisis will hit the production of 39 million vehiclesthe chip crunch has driven home the need for automakers to be proactive right now and create supplychain resiliency longer term to avoid disruptions in the future the firm said on fridayautomakers have in the past had direct supply agreements with producers of certain raw materials including precious metals such as palladium and platinum used in exhaust scrubbing systemsthe more direct approach to securing precious metal supplies was launched after a supply and price disruption in that marketautomakers are now looking at developing direct relationships with semiconductor makers said mark wakefield coleader of alixpartners global automotive practicethese things are shocked into existence he saidautomakers have been reluctant in the past to make long term commitments to buy semiconductors or other raw materials and take on the financial liabilities for such agreements wakefield saidnow the risk is real its not a potential risk of losing production to semiconductor shortages he addedseparately ford motor co said on thursday it is redesigning automotive parts to use more accessible chips in response to the global semiconductor shortage