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  2. Latest Numbers on the Microchip Shortage
July 03, 2022 07:00 AM

The latest numbers on the microchip shortage: Forecast worsens

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.

Lindsay Chappell
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    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.

    The breakdown
     2022 YEAR TO DATE2022 PROJECTED
    Europe888,0001,152,000
    North America845,0001,067,000
    Rest of Asia515,000723,000
    China122,000227,000
    South America100,000102,000
    Middle East/Africa29,00042,000
    Total2,500,0003,312,000
    *Unchanged from a week earlier

    Source: AutoForecast Solutions Inc. autoforecastsolutions.com

    AutoForecast Solutions Inc.

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        • Easycare: The importance of benchmarking your reinsurance performance
        • Experian, GroundfTruth and Spectrum Reach: Dealership marketing: Navigating automotive advertising in a post-pandemic world
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        • Experian: Three steps to adapting to constant change in automotive marketing
        • Haig Partners: Buy-Sell Q&A: Where the Automotive M&A Market is heading
        • Haig: Buy-Sell Q&A: Future-proofing your dealership
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        • Siemens: The impact of vehicle electrification and connectivity on electrical system design
        • Swiss Re: Insurers and car manufacturers: how to unlock the potential of true collaboration
        • Text2Drive: Digital retailing meets the service department
        • Truist: Prepare now for the next era of automotive retailing
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        • Haig Partners: How are dealerships being valued today?
        • Haig Partners: Dealership consolidation trends
        • Haig Partners: Dealership valuation trends
        • Haig Partners: Dealership succession planning
        • Ally: Navigating the future of automotive retailing
        • Google: How a century-old brand is transforming the auto industry
        • Car Wars: Is a Rise in Service Leading to Poor Customer Satisfaction?
        • Solera | DealerSocket: Four real-time integrations that can save your dealership time
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        • Synchrony: 5 Ways to Help Motivate and Retain Employees
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