The forecast for lost 2022 factory production resulting from microchip shortages has softened by a small amount, according to the latest estimate from AutoForecast Solutions. But AFS predicts the year will still end with factories worldwide having eliminated 4.26 million vehicles from their plans this year because of inadequate chip supplies.
That is modestly lower than the 4.39 million year-end total AFS forecast one week ago.
The slight improvement illustrates the situation at the moment, after almost two years of the supply crisis. Automakers say the chip situation seems to be getting better but is still troubling as it approaches its third year.
The estimate of 4.26 million lost vehicles for the year would be a significant improvement over the 10.5 million lost last year. But the current figure does not reflect other supply chain troubles that manufacturers are coping with, such as shipping delays and international supply interruptions, said Sam Fiorani, AFS vice president of global vehicle forecasting.
About 3.62 million vehicles have been cut from automakers’ global production plans so far this year because of chip problems.
Last week, Toyota further cut its production plans because of the shortage, abandoning a previous goal to manufacture 9.7 million vehicles this fiscal year. It did not disclose a new target.