Over 100,000 Vehicles Cut from North American Production Schedules
Auto manufacturers cut over 100,000 vehicles from North American production schedules because of the global microchip shortage last week, reports AFS.
Auto manufacturers cut over 100,000 vehicles from North American production schedules because of the global microchip shortage last week, reports AFS.
IMAGE: Pixabay
AFS
Auto manufacturers cut over 100,000 vehicles from North American production schedules because of the global microchip shortage last week, according to estimates from AutoForecast Solutions (AFS).
Japan is the only other country that lost production last week, losing 7,300 vehicles.
Sam Fiorani, AFS vice president of global vehicle forecasting, said: “Along with much of the industry ... Toyota and Stellantis are still looking for ways to handle this crisis. Stellantis continues to show its losses in the past and has not properly anticipated how it will be affected going forward; but more losses will be reported in the second half of 2022. Toyota has acknowledged its issues and removed a considerable portion of its production volume in July, with more expected to follow.”
Even with the production losses, it appears the situation stands ready to improve. Bosch has announced plans to invest over $3 billion in semiconductor production and other chipmaking activities.
Originally posted on Auto Dealer Today
More Industry
Kia Closes Out Summer With a Bang
Its U.S. subsidiary broke multiple records in August, in part due to a surge of demand for hybrids models.
Read More →
Indiana Dealership Changes Hands
A 30-year-old Ford dealership in Indiana has a new owner and will soon be undergoing renovations to meet manufacturer requirements.
Read More →
Texas Dealership No Longer in the Family
The Ford store, a longtime cornerstone of the Houston market, is now part of one of the fastest-growing U.S. auto groups.
Read More →
Genesis Grows California Presence
The Cardinale Automotive Group opened its third Genesis rooftop in the Golden State, Genesis of San Bruno, a stand-alone dealership serving the San Francisco Bay Area.
Read More →
August Auto Sales a Mixed Bag
An early forecast shows strong business despite consumer hurdles, and hybrids are a big piece of their affordability coping strategy.
Read More →
EV Market Humming Along
July sales show steady growth as the segment stabilizes from last year’s artificial surge following pullback of federal support.
Read More →
Auto Loan Delinquency Rates Stabilize
Auto loans are a main driver of nonmortgage consumer debt, but delinquency rates stabilized in the second quarter across all credit risk tiers.
Read More →
EV Sales Recover in Q2
The EV sales roller coaster continues as numbers show improvement, but industry experts predict a year-over-year third-quarter decline and fourth-quarter jump.
Read More →
The Cheapest Hybrids to Fuel
The powertrain is increasing in popularity, in no small part due to its fuel economy. A new report lists the most efficient hybrids on the market.
Read More →
Hybrids and SUVs Gaining Ground
The most recent Kelley Blue Book Brand Watch found that only two nonluxury brands increased in shopper consideration, buoyed by their hybrid and SUV offerings.
Read More →