Auto plants in Europe and North America auto plants just cut another 104,000 vehicles out of their production plans because of chip shortages.Auto plants in Europe and North America auto plants just cut another 104,000 vehicles out of their production plans because of chip shortages.
European auto plants are cutting 68,000 vehicles from their production schedules this week and North American factories 36,000 because of the ongoing microchip shortage, according to the latest report from AutoForecast Solutions.
Those plan changes and others around the world have caused AFS to raise its projection for total lost 2022 auto production related to chip shortages by almost 167,000 vehicles. AFS now forecasts that automakers will cut a total of 3.3 million vehicles from their schedules worldwide by year end.
But trimmed factory plans do not tell the whole story of the chip shortage at the moment. Last week, General Motors said in a regulatory filing that it had built 95,000 vehicles in the second quarter that were incomplete because of missing components. Most of the incomplete GM vehicles were produced in June.
The filing said that GM expects to get the vehicles finished and delivered to retailers by the end of this year.
Source: AutoForecast Solutions Inc.