Chip Problem Continues to Lesser Degree
Report forecasts production cuts resulting from issue this year.
Most of the cuts will occur in greater Asia, outside of China.
IMAGE: Getty Images/gorodenkoff
The ongoing semiconductor microchip supply shortage will continue to cut into automakers' production this year, though significantly less than it did last year, according to numbers released by AutoForecast Solutions.
The automotive data and analysis provider forecasts that this year’s vehicle production cuts resulting from the chip issue will amount to about 2.8 million units, down about 36% from 4.4 million last year and more than 10 million in 2021.
AutoForecast expects that most of the cuts will occur in greater Asia, outside of China.
Chip supply has bedeviled carmakers since the dawn of the pandemic, though it has eased year-to-year, and inventories have improved accordingly.
Originally posted on Auto Dealer Today
More Showroom
California Sees Quarterly Gains
California’s new-vehicle market saw a boost in hybrids in the third quarter and its first overall quarterly market gain of the year.
Read More →
New-Vehicle Prices Stay Put
Affordability pressures and model availability shaped new-vehicle sales in September, according to an analysis by Kelley Blue Book.
Read More →
EV Buyer Consideration Shifts
What drives American consumers to purchase an electric vehicle is shifting as the question moves away from Should I?' to 'Which features and experience do I want to have?'
Read More →
Year-to-Date Auto Sales Holding Their Own
A forecast through August shows that automakers have shifted strategies to keep deliveries and revenues up despite tariffs and other economic challenges.
Read More →
Slow to Robo
Ten years of polling consumers shows autonomous vehicles’ profiles have risen considerably, but even more people now want at least some level of control if they go that route.
Read More →
Dealers a Little Down
A third-quarter Cox Automotive survey finds them in a mixed mood, bummed by fallen customer traffic but encouraged by better profits, costs and EV interest.
Read More →
European EV Sales Skyrocket
The EV market on the continent held strong in July with almost 25% of new-car sales being fully electric units, a stark contrast to the U.S., where EV sales declined about 42%.
Read More →
Mitsubishi Unveils U.S. Plan
The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.
Read More →
Used Lots Getting the Business
Many consumers are seeking out the units to save money, and the demand – higher in July than normal – is keeping supply limited and prices up.
Read More →
Used Market Stabilizes
The Carfax Used Car Index noted a major drop in used-vehicle price increases in July after several months of hikes.
Read More →