European auto plants have axed 139,000 more vehicles from their production schedules because of the microchip shortage, accounting for the vast majority of new cuts AutoForecast Solutions estimates for the worldwide industry last week.
The number of vehicles dropped by European factories because of the semiconductor shortage so far this year now exceeds 1 million, according to the latest AFS tally. About 232,000 of those cuts have happened in the past three weeks alone.
“Europe has had a tough 2022 with semiconductors, wiring harnesses, and various other supply chain disruptions hampering production throughout the continent,” Sam Fiorani, AFS vice president of global vehicle forecasting, told Automotive News in an email.
Microchip makers STMicroelectronics and GlobalFoundries are reportedly considering a plan for a semiconductor facility in France. But a recent report by McKinsey & Co. estimated in June that the chip shortage could persist for “at least the next three to five years.”
Source: AutoForecast Solutions Inc. autoforecastsolutions.com
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