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.

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 DATE	2022 PROJECTED
Europe	888,000	1,152,000
North America	845,000	1,067,000
Rest of Asia	515,000	723,000
China	122,000	227,000
South America	100,000	102,000
Middle East/Africa	29,000	42,000
Total	2,500,000	3,312,000
*Unchanged from a week earlier