Global semiconductor shortages are showing signs of easing, spelling good news for the automotive industry, says consulting company Semiconductor Intelligence (SC-IQ).
“However, the chip problem will likely remain through at least the year 2023,” the consultancy claims. “Although a few automakers indicate they are back at full production, most report continuing shortages. This will prevent automakers from producing enough vehicles to meet demand in 2022 and 2023, resulting in continued high prices for most vehicles.”
Automakers and semiconductor suppliers are working to try to prevent such severe shortages from reoccurring in the future, Kallanish notes.
“Car producers are adjusting their just-in-time inventory models and are also working more closely with semiconductor suppliers to communicate their short-term and long-term needs,” SC-IQ observes. “Semiconductors will become even more crucial to automakers as trends toward electric vehicles and driver-assist technologies continue.”
Toyota announced that shortages will last at least through the third quarter of 2022, but Volkswagen and Hyundai say shortages are easing. However, General Motors expects the problem to impact into 2023 and Stellantis says the deficit will last through the second half of 2022. Honda’s outlook is uncertain due to chip problems. Nissan expects supply recovery in the next few months.
For Ford, the shortages are still an issue, while Mercedes-Benz and BMW say they have no significant supply issues and no production delays. Volvo is back at full supply, but Bosch also expects shortages to continue into 2023.
LMC Automotive’s July forecast for light vehicle production is for 81.7 million units in 2022, up 2% from 2021. The forecast sees production growth of 5% in 2023 and 7% in 2024.
Earlier, the EU announced a €43 billion ($43 billion) plan to become a major chip producer, to ease dependency on Asian manufacturers of the components.
Svetoslav Abrossimov Bulgaria
