AFS: Chip crisis continues to ease Production is expected to be reduced by 11.31 million units for the whole year

Last week, global automakers cut production by 39,600 vehicles due to chip shortages, and as of December 19, the global auto market had reduced production by about 10.232 million units, of which the Chinese auto market had reduced production by 1.982 million units, accounting for 19.4% of the total production reduction.

AFS expects that due to chip shortages, global production will be reduced by 11.31 million vehicles this year, an improvement from the 11.33 million vehicles predicted a week ago, indicating that the darkest hour of "missing cores" has passed, and the one-year chip shortage crisis is easing.

According to the latest data from consultancy AFS (AutoForecast Solutions), global automakers cut production by a total of 39,600 vehicles last week due to chip shortages. Among them, Europe suffered the hardest impact, losing about 26,000 vehicles, accounting for about two-thirds; Auto plants in North America, China, the Middle East and Africa saw no further production cuts last week, with South America cutting production by just 450 units.

It is worth noting that factories in the Asia-Pacific region outside China still reduce production by as much as 12,500 vehicles. On December 20, Toyota Motor motor said that due to supply chain problems, chip shortages and the new crown pneumonia epidemic, Toyota's five japanese factories will suspend production in January next year, which will cause a delay in production of 20,000 vehicles, but Toyota said that the cut will not affect its annual production target of 9 million vehicles.

AFS said that as of December 19, the global auto market has reduced production by about 10.232 million units, of which the Chinese auto market has reduced production by 1.982 million units, accounting for 19.4% of the total production reduction.

AFS expects that due to chip shortages, global production will be reduced by 11.31 million vehicles this year, an improvement from the 11.33 million vehicles predicted a week ago, indicating that the darkest hour of "missing cores" has passed, and the one-year chip shortage crisis is easing. (Compiled by Chen Mengyu, China Economic Network)