What else can possibly go wrong in the global auto industry supply chain?
A massive container ship became stuck sideways in the busy Suez Canal last week, the latest symbol of a supply chain stretched to its limits as additional assembly lines shut down because of an unabating worldwide shortage of microchips.
The mishap now combines with a global shortage of shipping containers, U.S. port congestion and a March 19 fire at the vital Renesas Electronics semiconductor factory in Naka, Japan, to increase the pressure on U.S. vehicle inventories. Honda, Nissan and Toyota said last week they were assessing what effect the shutdown of the Renesas plant would have on their production.
The Suez Canal may be half a world away, but the impact will be felt on the U.S. auto industry, warned Mark Fulthorpe, executive director of global light-vehicle production forecast at IHS Markit.
The blockage of the canal — a vital logistics l…