IWLA Calls on Biden Administration to Address Semiconductor Shortage
In a letter to President Biden, IWLA and several other prominent business associations urged the administration to prioritize actions to address the semiconductor supply shortage citing its impact on the trucking industry. Demand for new trucks continues to increase amid significant supply chain disruption and economic recovery.
The semiconductor shortage is preventing manufacturers and suppliers from producing new trucks, leading to significant delivery delays and a highly inflated used trucking market. Customers ordering new trucks today will have to wait on average until February 2023 for delivery. The average used truck sold last month was 67% more expensive than last October.
IWLA urged the administration to prioritize the allocation of semiconductors for critical industries as identified in the Essential Critical Infrastructure Workforce Guidance by the Cybersecurity and Infrastructure Security Agency. The letter also called on the administration to ensure semiconductor companies applying for CHIPS Act funding use what is awarded to support essential American industries that bolster the U.S. economy.
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