European, North American Automakers Trim Vehicles From Production Schedules
European and North American automakers cut around 25,000 additional vehicles from their production schedules last week.
CarScoops
European auto factories trimmed 25,000 additional vehicles and North American automakers cut approximately the same number of vehicles from their production schedules last week amid the ongoing microchip shortage, according to the latest report on the situation by AutoForecast Solutions (AFS).
AFS now forecasts automakers will drop more than 3.1 million vehicles from their global 2022 plans because of inadequate chip availability. This figure is separate from other supply chain problems that may affect production.
The AFS forecast shows the impact of the shortage will gradually worsen this year. Even so, the AFS forecast added 800,000 vehicles to the full-year tally in just the last 60 days.
AFS projects Europe to complete 1.08 million units; North America to produce 1.03 units, and the rest of Asia to produce 696,000 units. The organization also projects China will produce 213,000 units, the Middle East/Africa, 22,000 units.
In total, AFS projects automakers to product 3,142,000 units globally.
Originally posted on Auto Dealer Today
More Industry
World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →
Black Book: Weekly Market Update
Used-vehicle market depreciation was the prevailing story in the wholesale market last week.
Read More →
Smaller Is Looking Better
A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.
Read More →
U.S. EV Market Slowly Stabilizes
U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.
Read More →
Global EV Market Entering New Phase
Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.
Read More →
Black Book Weekly Market Update
The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.
Read More →
Auto Affordability in Context
Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.
Read More →
Black Book: Weekly Market Update
Automotive auction inventory increased last week, giving choosy bidders even more leeway.
Read More →