For 2023, AutoForecast Solutions estimates more than 2.7 million vehicles will be cut from automakers’ productions schedules because of the global semiconductor shortage.
2022 finished with nearly 4.4 million production cuts related to the chip shortage. In 2021, more than 10.5 million vehicles were lost. The bulk of cuts so far this year were in Asia outside China.
Projections for loss by region are as follows:
- North America YTD – 24,700 (2022 Projected – 907,500)
- Europe YTD – 11,700 (2022 Projected – 793,000)
- Rest of Asia YTD – 170,000 (2022 Projected – 718,600)
- South America YTD – 13,000 (2022 Projected – 138,400)
- China YTD – 200 (2022 Projected – 194,200)
- Middle East/Africa YTD – 0 (2022 Projected – 21,300)
- Total YTD – 219,700 (2022 Projected – 2,773,000)
