(WXYZ) — The numbers are still being tallied but the economic losses attributed to the blockade at the Detroit Windsor Ambassador Bridge on both sides of the border are approaching $1 billion.
The rebound for the auto industry won’t be like flipping a switch now that the trucks are running and the pipeline of parts is back.
“I would expect to see some normalization within the next week to two weeks. But it really is going to be a process,” says Peter Nagle, Senior Research Analyst for automotive with HIS Markit.
How high will the numbers go? Some are estimating already at $850 Million.
“Ballpark $140 million a day you can see how it adds up to that $850 million figure,” Nagle tells 7 Action News.
This will also cause more shortages in new cars and trucks on the market that already started with production shutdowns with COVID in 2020 and the ongoing chip shortage.
“And this is just again bad news that's gonna result in higher prices and tighter inventories for the next you know, several weeks to months here on top of the ongoing semiconductor shortages,” Nagle said.
Canadians traveling into the US across the Ambassador Bridge says they understand the reasons for the blockade but they’re glad it’s over.