Home autonews The latest numbers on the microchip shortage: 2.7M vehicle cuts forecast for 2023

The latest numbers on the microchip shortage: 2.7M vehicle cuts forecast for 20232023-01-09 09:09:03

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For 2023, AutoForecast Solutions estimates more than 2.7 million vehicles will be cut from productions schedules because of the global semiconductior shortage.

For 2023, AutoForecast Solutions estimates more than 2.7 million vehicles will be cut from automakers’ productions schedules because of the global semiconductor shortage.

2022 finished with nearly 4.4 million production cuts related to the chip shortage. In 2021, more than 10.5 million vehicles were lost. The bulk of cuts so far this year were in Asia outside China.

THE BREAKDOWN
  2023 YEAR TO DATE 2023 PROJECTED
North America 24,700 907,500
Europe 11,700 793,000
Rest of Asia 170,000 718,600
South America 13,000 138,400
China 200 194,200
Middle East/Africa 0 21,300
Total 219,700 2,773,000
*Unchanged from a week earlier

Source: AutoForecast Solutions Inc.