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Chip crisis threatens to cut auto output by 7.1 million cars, Auto News, ET Auto

by Gias
August 21, 2021
2 min read
0
Chip crisis threatens to cut auto output by 7.1 million cars, Auto News, ET Auto

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Chip crisis threatens to cut auto output by 7.1 million carsThe worldwide scarcity of semiconductors will reduce worldwide auto manufacturing by as many as 7.1 million autos this 12 months, and pandemic-related provide disruptions will hobble the trade effectively into subsequent 12 months, IHS Markit mentioned.

The shortage of chips gained’t stabilize till the second quarter of subsequent 12 months, with restoration coming within the second half, IHS mentioned in a report Thursday. The grim outlook is additional proof that the chip disaster is much from over. And the analysis agency’s forecast doesn’t embody the newest cuts from Toyota Motor Corp., which plans to briefly pause output at 14 vegetation subsequent month and slash manufacturing 40%.

“The state of affairs remains to be fraught with challenges,” IHS analysts Mark Fulthorpe and Phil Amsrud wrote of their report. “We’re additionally seeing further volatility resulting from Covid-19 lockdown measures in Malaysia the place many back-end chip packaging and testing operations are carried out.”

Low vaccination charges and rising an infection charges in Southeast Asia are prompting shutdowns of vegetation assembling all varieties of semiconductors, IHS mentioned. Ford Motor Co. mentioned Wednesday it is going to idle its F-150 pickup plant close to Kansas Metropolis, Missouri, subsequent week “resulting from a semiconductor-related half scarcity on account of the Covid-19 pandemic in Malaysia.”

Toyota, which had stockpiled chips and beforehand had skilled much less disruption, cited the Asian outbreak of the delta variant of the virus for its September manufacturing cuts.

“Particularly in Southeast Asia, the unfold of Covid and lockdowns are impacting our native suppliers,” Toyota Buying Group Chief Officer Kazunari Kumakura mentioned.

IHS now sees the chip disaster decreasing international auto manufacturing by 6.3 million to 7.1 million autos this 12 months, not together with the Toyota cuts. Within the third quarter alone, as many as 2.1 million models may very well be misplaced to the chip scarcity, IHS mentioned.

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The second quarter of 2022 “will be the level at which we search for the stabilization of provide,” IHS mentioned, “with restoration efforts now beginning solely from the second half of 2022.”



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