The global auto industry will see 2.6 million vehicles cancelled due to chip shortages — a 200,000-vehicle improvement, according to AutoForecast Solutions.
As disruptive as the global supply shortages of microchips continue to be for auto production schedules, the outlook just brightened a notch.
AutoForecast Solutions, which has tracked lost vehicle production weekly since the chip shortage began in 2021, has lowered its estimate for total 2023 factory cuts. All year long, the firm has held to a forecast of 2.8 million lost vehicles globally for 2023. It has now reduced that estimate to 2.6 million.
However, automakers continue to experience production setbacks as a result of chip shortages. Chinese assembly plants will cut nearly 8,300 vehicles from their schedules this week, while North American factories will eliminate nearly 7,400 vehicles, AutoForecast Solutions estimates. Worldwide, assembly plants will cut approximately 22,000 cars and trucks from factory plans this week, the firm says.
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