Automakers are likely to be able to assemble far fewer cars this year and next than previously thought. Research firm IHS Markit has significantly lowered expectations for car production for this year and for 2022. The cause is the global chip shortage, which the sector has been struggling with for quite some time. Many car manufacturers have already had to temporarily stop production.
IHS Markit, often quoted by automakers and suppliers, cut its forecast for this year by more than 6 percent.
That means more than five million fewer cars will be made by 2021 than previously assumed.
The research bureau estimates that more than 9 percent fewer cars and trucks will be made next year.
"This is the biggest adjustment to the outlook in the past nine months," says IHS Markit.
The chip shortage has arisen because there is much more demand during the pandemic for things like laptops, computers and mobile phones for people who work from home.
At the same time, people are also looking for entertainment, which means that game consoles, for example, are in great demand.
The auto industry, in turn, scaled down production during the first corona dip and reduced its chip orders.
When the market picked up again, chip manufacturers had received so many other orders that long lead times had arisen for the chips from the car manufacturers.
The latest disruptions in chip production have emerged in Malaysia, which in recent years has become a major center for testing and packaging chips.
Due to corona infections, their factories were sometimes forced to shut down for weeks.
The Czech car brand Skoda, a subsidiary of Volkswagen, announced last week that it would build 100,000 fewer cars this year due to global shortages of computer chips. In late August, Maruti Suzuki India, India's largest automaker by deliveries, reported that its production could contract by as much as 40 percent in September.Keywords: