Ford has reported a $3.1 billion loss for the first quarter, in large part because of a drop in the value of its investment in an electric-vehicle startup.

Amid an ongoing chip shortage, Ford is reportedly planning to ship and sell vehicles without certain non-critical chips as the automaker deals with a pile of unfinished vehicles.

While Detroit is known as the “Motor City” there are two men who say it could become “Chip City” -- but there’s a problem.

General Motors lost the crown as the top-selling automaker in the U.S. as sales dropped 13% in 2021, down to 2.2 million cars sold, allowing Toyota to take the top spot as it sold 2.3 million last year.

Sales have dropped significantly for General Motors this quarter due to part shortages and “historically low inventories” caused by issues related to the coronavirus pandemic.

Analysts estimate the shortage could cost automakers tens of billions of dollars.

The global shortage of computer chips is getting worse, forcing automakers to temporarily close factories including those that build popular pickup trucks.

The semiconductor shortage that has hampered the auto industry, created vehicle shortages and higher prices isn’t likely to end any time soon.

Is there a payday sitting in your driveway? Prices on the used car market have exploded and you may be surprised how much some models are worth.

With companies facing shortages of microchips and parts, new cars are being produced at slower rates than normal. So it’s no surprise that the price of used cars are going up amid the demand.

Used car prices are up 20.8% in the Detroit market over the past year. Nationally, used car prices have increased 16.8%, or $3,926, over the past 12 months, compared to most years when they remain constant.

Shares of General Motors Co. closed at a record high Thursday after the company said its efforts to manage the global computer chip shortage have worked better than expected, so it’s financial results will improve.

If you’ve shopped for a new or used car recently you may have noticed that prices have increased.

The computer chip shortage is forcing Ford Motor Company into a new round of production cuts at eight of its plants, including the one making the F-150 truck.

DETROIT – A shortage of computer chips is causing problems for the auto industry. General Motors has warned that it is likely to lose around $2 billion this year as a result. READ: Why you should ask about ‘destination fee’s before purchasing a new vehicleFor the auto industry the problem is a supply and demand issue created by manufacturing. Because of the issue many automakers are having to slow or stop production to put the chips in vehicles. Or, if it’s something like a powertrain where every vehicles got it 100 percent of your vehicles have that powertrain chip, then you’re basically stuck,’ he said.