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AFS: The global Production of about 3.62 Million Vehicles has been Reduced Due to Lack of Cores this Year, and the Chip Supply Prospects have Improved

Update time : 2022-10-25 17:05:29

According to media reports, according to the latest data from AutoForecast Solutions, an auto industry data forecasting company, as of October 23, due to the shortage of chips, the global auto market has reduced production by about 3.6156 million vehicles this year, of which only 172,900 vehicles have been reduced in China due to lack of chips. car, accounting for about 4.8% of the total reduction.
AFS predicts that by the end of this year, the cumulative reduction in the global auto market will climb to 4.262 million vehicles, slightly lower than the previous forecast of 4.39 million vehicles, and far lower than last year's 10.5 million vehicles. It can be seen that the global automobile production reduction rate caused by the chip shortage has slowed down, which also confirms that the global chip shortage has eased.
After nearly two years of chip supply crisis, the current chip supply has improved. Many automakers also said that chip shortages appear to be improving, but the situation remains troubling as automakers enter their third year of chip shortages.
Last week, Toyota expected to slash its global production target of 9.7 million vehicles for the current fiscal year (April 2022-March 2023), the first time Toyota has admitted it will miss the ambitious target. A Toyota spokesman blamed a shortage of semiconductor chips for the production cut. The spokesman added that the company is assessing the impact of the lack of cores on future production and will announce revised production targets once the outlook becomes clearer.
Toyota said in a statement that it plans to produce about 800,000 vehicles globally in November, about 100,000 less than its average monthly production plan for the September-November period announced on September 22. The company also said it will suspend some production at 11 production lines at eight Japanese plants next month, which will affect output of various models including the Corolla, RAV4 and Yaris.
Sam Fiorani, vice president of global auto forecasting at AFS, said the current production cut data provided by AFS is only related to chip shortages, but automakers also face other supply chain issues that lead to production cuts, such as delivery delays and international supply disruptions.

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