Nov 2022
Microchip Shortage: Europe Hit Hard
AutoForecast Solutions added more than 289,000 vehicles to its tally of the number of vehicles cut because of the microchip shortage in 2022, sending the year-to-date total up about 8% from just a week earlier. As the shortage nears its third year, it remains unclear when it will finally end. Hope that new microchip production capacity will outpace high demand across multiple sectors before the end of 2023 “is fading from reality,” said Sam Fiorani, AFS vice president of global vehicle forecasting.
Projections for loss by region are as follows:
- North America YTD – 1,386,500 (2022 Projected – 1,453,400)
- Europe YTD – 1,351,400 (2022 Projected – 1,520,000)
- Rest of Asia YTD – 764,600 (2022 Projected – 848,700)
- South America YTD – 184,900 (2022 Projected – 185,600)
- China YTD – 172,900 (2022 Projected – 221,300)
- Middle East/Africa YTD – 44,700 (2022 Projected – 49,600)
- Total YTD – 3,905,000 (2022 Projected – 4,278,500)
