European, North American Automakers Trim Vehicles From Production Schedules
European and North American automakers cut around 25,000 additional vehicles from their production schedules last week.
CarScoops
European auto factories trimmed 25,000 additional vehicles and North American automakers cut approximately the same number of vehicles from their production schedules last week amid the ongoing microchip shortage, according to the latest report on the situation by AutoForecast Solutions (AFS).
AFS now forecasts automakers will drop more than 3.1 million vehicles from their global 2022 plans because of inadequate chip availability. This figure is separate from other supply chain problems that may affect production.
The AFS forecast shows the impact of the shortage will gradually worsen this year. Even so, the AFS forecast added 800,000 vehicles to the full-year tally in just the last 60 days.
AFS projects Europe to complete 1.08 million units; North America to produce 1.03 units, and the rest of Asia to produce 696,000 units. The organization also projects China will produce 213,000 units, the Middle East/Africa, 22,000 units.
In total, AFS projects automakers to product 3,142,000 units globally.
Originally posted on Auto Dealer Today
More Industry
Autos More Appealing
Consumers gave new cars better scores again this year for design, performance and more as mass-market brands kept gaining on premium lineups, JD Power found in an annual poll.
Read More →
Used EVs Defy Overall Market
While the used-car market saw three months of price declines or stagnation, the used EV segment did the opposite – rising for three straight months.
Read More →
Gone to the Dogs
A Stellantis brand decided to have some fun with one of its SUVs’ design to address growing emphasis on family pets.
Read More →
OEM Poll Sees Industry Evolution
Kerrigan Advisors’ survey of automakers finds that tariffs, technology, network tightening and other factors are poised to reshape auto retail.
Read More →
Luxe N.C. Dealerships Change Hands
A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
Read More →
Exposure Drives Interest in Chinese Cars
At a recent demonstration, consumers had the chance to ride in a Chinese-branded vehicle, a firsthand experience that improved their perceptions and purchase intent.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Agent Advocate
Rob Mancuso, who comes from a long line of auto dealers, values general agents’ place in the industry and makes a case for them taking an even bigger seat at the table.
Read More →
Driving Under Distraction
Though consumers gave higher marks to new vehicles in JD Power’s most recent initial-quality poll, high-tech interference worsened, pointing to craving for simplicity.
Read More →
Affordable New Cars a Thing of the Past
More than one out of five new vehicles sell for more than $60,000, according to Edmunds. That's up 7% compared to prepandemic 2019.
Read More →