Automakers have cut more than 2 million vehicles from their production plans this year because of microchip shortages, even as the industry testifies to the supply crisis slowly subsiding.
According to the newest estimate from AutoForecast Solutions, manufacturers eliminated 56,199 vehicles from their factory schedules this week because of a lack of semiconductors, pushing the year-to-date global production loss estimate to about 2.04 million.
AutoForecast Solutions expects that figure to climb by 400,000 vehicles by the year’s end. However, even a year-end total of 2.4 million would represent a major improvement over 2022 and 2021. Last year, factories had to cut 4.39 million vehicles from their plans, while 2021 saw 10.56 million vehicles eliminated because of the chip shortage.
Asian assembly plants outside of China suffered a majority of this week’s cuts, with 35,008 vehicles axed there. Automakers in North America trimmed 21,191 vehicles from their schedules.
Source: AutoForecast Solutions Inc. autoforecastsolutions.com
