About 76,000 more vehicles had to be cut from global supplier production schedules due to shortages of microchips, according to the latest estimate from AutoForecast Solutions.
Some 22,400 vehicles were just trimmed from factory production plans in North America this week due to short supply, while 34,000 vehicles are being cut at European plants. In another notable development, AFS said assembly plants in South America are cutting back by 19,700.
So far this year, automakers have had to cut back by a total of 3.23 million vehicles due to chip shortages. That’s in addition to more than 10 million units lost in 2021, and excludes schedule reductions resulting from other supply chain problems, such as the war in Ukraine.
The shortage continues to eat away at global auto production, even as billions of dollars are poured into future semiconductor production. Honda Motor Co. said last week it will reduce production at its Japanese plants by up to 40 per cent through the end of September, while Volkswagen production in South America is expected to be restricted through at least the end of the year.
“The light at the end of this particular tunnel still seems a distance away,” said Sam Fiorani, AFS vice president of global vehicle forecasting, in an email.