Automaker production schedules plummet as the semiconductor chip shortage rages on.
In fact, the number of vehicles canceled from automaker production schedules worldwide due to the shortage now exceeds 2 million, according to the latest estimate by AutoForecast Solutions. To deal with the shortage, automakers prioritize available chips for high-end, high-margin models instead of entry-level vehicles.
AFS’ year-to-date tally last week added 234,200 vehicles to the total, increasing the tally to 2.23 million units lost due to the microchip shortage.
AFS estimates 205,200 of these cuts came from North American assembly plants. South America cut 25,200 vehicles from its production plans, while China, the Middle East and Africa reported no further production cuts.
Meanwhile, AFS estimates European plant losses at approximately 500 units from the previous week.
Originally posted on Auto Dealer Today