According to the latest data from AutoForecast Solutions (hereinafter referred to as AFS), an auto industry data forecasting company, as of July 3, the global auto market has cut production by about 2.5 million vehicles this year due to a shortage of chips. AFS forecasts that by the end of this year, global automakers will cut 3.31 million vehicles due to core shortages.
From a regional perspective, Europe is still the region with the largest reduction in automobile production due to core shortages, with a reduction of 888,000 vehicles; North America’s production reduction is second only to Europe, and is not much different from Europe, about 845,000 vehicles ; Production reductions in the rest of Asia increased from 487,000 to 515,000; production in China increased from 107,000 to 122,000.
AFS expects global automakers to cut production by 167,000 vehicles last week due to core shortages. Among them, the production of about 68,000 vehicles was cut in Europe and about 36,000 in North America.
Chip shortages still appear to be affecting production at automakers around the world. Last week, GM said in a regulatory filing that it produced 95,000 unfinished vehicles in the second quarter due to a lack of parts, most of which were made in June. But GM expects to install the missing parts on those vehicles and deliver them to retailers by the end of the year, documents show.
On June 29, Mercedes-Benz said that the global semiconductor chip shortage will run through 2022 and continue into 2023. Audi also said that the current inventory woes at auto dealers may not ease until next year. Although the shortage of wiring harnesses caused by the situation in Russia and Ukraine has eased, the brand is still trying to ensure there are enough chips to keep factories running.
