Even as the microchip supply improves, the auto industry remains at least several months away from the semiconductor shortage ending, according to AutoForecast Solutions.
“Getting the capacity to supply automotive production takes time, which means we’re still looking at slowed production for months to come,” said Sam Fiorani, AFS vice president of global vehicle forecasting.
Automakers are expected to eliminate about 2.8 million vehicles from their production schedules this year because of the microchip shortage, according to AFS, which has monitored the impact of the supply crunch since its early stages in 2021. Through last week, automakers had already cut about 304,600 units from production plans around the globe.
That figure includes about 15,900 vehicles that were cut at European factories last week. Year-to-date totals in every other region were unchanged from a week earlier.