AutoForecast Solutions: Chip shortage may lead to a cumulative reduction of more than 3 million vehicles in global automobile production in 2022

According to foreign media reports, according to the latest data from AutoForecast Solutions (AFS), an automotive industry data forecasting company, the global automotive market has reduced production by about 2.258 million vehicles this year due to chip shortages. AFS predicts that the global automotive market's cumulative production reduction will climb to more than 3.06 million vehicles this year.

So far this year, the cumulative reductions in automobile production in Europe and North America have been very close. Since April, the pace of production cuts in Europe has slowed significantly, and the cumulative reductions have remained between 700,000 and 800,000 vehicles. However, AFS still expects production cuts in Europe and North America to climb to more than 1 million vehicles this year. The reduction in automobile production in China due to chip shortages remained unchanged at 107,300 vehicles, but it is likely to climb to more than 200,000 vehicles this year.

Last week, due to chip shortages, global automakers reduced production by another 27,700 vehicles, a significant drop from the previous week's production cuts (more than 200,000 vehicles). It is reported that last week, other parts of Asia reduced production by about 25,500 vehicles due to chip shortages; North America reduced production by about 2,200 vehicles; Europe, China, South America, the Middle East and Africa did not further reduce automobile production due to chip shortages.

Previously, several automakers said that the chip shortage is expected to ease in the second half of this year. It is reported that a spokesman for Volkswagen Group revealed that the company has obtained a stable supply of chips, but he emphasized that there is still great uncertainty in the coming months. Henrik Fisker, CEO of electric car manufacturer Fisker, also said on June 14 that "to some extent", the company's supply chain crisis "is coming to an end" after a year-long shortage of semiconductors and other components hindered the company's production.

However, global auto production has been curtailed for other reasons besides the chip shortage. The spread of the COVID-19 pandemic has hampered the development of the auto industry in recent weeks and months.

Gasgoo