Electric cars may get the chance of a lifetime to replace petrol guzzlers faster as they emerge unscathed in chips shortage

• Global output of petrol-guzzlers may shrink by up to 700,000 vehicles in the first quarter, or 4 per cent of worldwide production, IHS Market said
• Ford slashed its first-quarter roll-out including the bestselling F-150 truck by 20 per cent, while General Motors said extended down time in Kansas, Canada and Mexico until mid-March will erode its 2021 bottom line by between US$1.5 billion and US$2 billion