Resin shortage rocks global auto sectorAutomakers, some of whom are still reeling from the effects of last year's supply chain disruption, must now contend with yet another shock.

Bloomberg reports the global automotive sector faces a severe shortage of resin, a substance used in the production of fuel and brake components. TI Automotive warned supplies of resin have sunk precipitously, adding carmakers could face shortages over the coming weeks.

"The shortage is real and immediate," TI Automotive chairman William Kozyra said. "The possibility of production interruptions at some of your facilities in the next few weeks is high."

According to Kozyra, an accident at a German plant has prompted the shortage. Experts said automakers are already overhauling supply chain management as they work to find alternative suppliers in the short-term. TI Automotive, a major supplier of brake and fuel lines, has been particularly impacted by the shock to resin supplies.

Toyota spokesperson Mike Goss said the Japan-based car manufacturer is currently working to address the resin shortage.

"We are aware," he said. "We are currently assessing the situation in North America. Until that assessment is complete, any impact on our production is unknown."
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