--- title: Automotive Market Faces Renewed Component Challenges description: Automotive Market Faces Renewed Component Challenges image: https://pages.supplyframe.com/hubfs/Blog/5.png --- [![large-Supplyframe-Logo-web](https://pages.supplyframe.com/hs-fs/hubfs/large-Supplyframe-Logo-web.png?width=204&height=44&name=large-Supplyframe-Logo-web.png)](https://supplyframe.com/) [![Contact](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/7283073/ca0536c0-b32a-42e2-8621-61c35fb59ad0.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/7283073/ca0536c0-b32a-42e2-8621-61c35fb59ad0) # IQ Insider *Powered by Commodity IQ* [![Subscribe to IQ Insider](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/7283073/68076d51-a4ec-43f5-9244-024375c6873b.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/7283073/68076d51-a4ec-43f5-9244-024375c6873b) ## [Automotive Market Faces Renewed Component Challenges](https://pages.supplyframe.com/ciq/automotive-market-faces-renewed-component-challenges) May 23, 2024, 1:41:27 PM / by [Supplyframe](https://pages.supplyframe.com/ciq/author/supplyframe) - [Tweet](https://twitter.com/share) For the automotive industry, the good news in 2024 is that the severe semiconductor shortage is mainly in the rear-view mirror. The bad news is that the engine of automotive sales growth in recent years – EVs – is experiencing a decelerating expansion, contributing to a slowdown in overall car demand growth in 2024. #### Written by [Supplyframe](https://pages.supplyframe.com/ciq/author/supplyframe) supplyframe --- - [**Recent**](https://pages.supplyframe.com/ciq/automotive-market-faces-renewed-component-challenges#tab-1) # About Us Use this little footer to reinforce your message about who you are and why people love working with you. And since this is a global module, you only have to edit it once to make the changes across every page it appears on. [Learn More](https://www.hubspot.com) # Links # Contact Us (626) 793-7732 [yourname@company.com](mailto:yourname@company.com) 61 S Fair Oaks Ave Suite 200 Pasadena, CA 91105 Copyright © 2026 [Supplyframe](https://supplyframe.com/) Accessibility [Privacy Policy](https://sfcomdev.wpengine.com/privacy-policy/) [Terms of Service](https://sfcomdev.wpengine.com/terms/) ![](https://px.ads.linkedin.com/collect/?pid=1972124&fmt=gif)