Automobile industryIHS Marks

It is predicted that the total global automobile production will be reduced by 964000 vehicles in 2021 From IHS Marks

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IHS Markit forecasts that in the first quarter of 2021, vehicle production will be about 672000 vehicles less than originally expected. By the end of this year, the total output of automobiles will be reduced by 964000. Due to the influence of COVID-19, more and more people are working and studying at home, the market demand for chips used in mobile phone and computer has increased. As chipmakers focus on meeting this demand, semiconductor supply to auto parts manufacturers has stalled.

Market observers said the global automotive industry is expected to experience a chip shortage in the first quarter of 2021.

At present, the shortage of automobile chips has hindered the global automobile production. On Thursday, industry sources said global auto makers, including general motors, Toyota, Honda, Volkswagen, Ford, Fiat Chrysler, Subaru and Nissan, were forced to cut production as car chips were used up.

On Wednesday, local time, General Motors announced that it would suspend production at its three North American plants and halve production at its Fuping plant in South Korea in response to the crisis of auto chip shortage.

Although the company did not disclose the exact number of cuts, market observers estimate it will reach 10000. According to the report, the models affected by the production reduction include Chevrolet malibao, Cadillac xt4, Chevrolet equinox and Trax, GMC Terrain and Buick encore.

Toyota, Honda, Volkswagen, Ford, Fiat Chrysler, Subaru and Nissan were also forced to cut production due to the shortage of auto chips.

Earlier, Toyota’s U.S. business spokesman said in an email that the company expected to cut production of its Texas based Tantu trucks by 40% this month due to limited chip supply. In addition, Honda plans to reduce auto production by about 4000 vehicles in January due to a shortage of semiconductors.

In December last year, Volkswagen also said it would cut its production in Europe, North America and China in the first quarter of this year due to tight chip supply caused by strong demand for smartphones and 5g network devices.

Nissan, the Japanese car maker, also said it would cut its hybrid production by 5000 units in January from its planned 15000 units.

Subaru, the Japanese automaker, will cut production of “thousands” of cars at its factories in the United States and Japan in January due to a shortage of chips.

IHS Markit: it is estimated that the global sales volume of new light vehicles in 2021 will be 83.4 million, with a year-on-year growth of 9%. IHS Markit: it is estimated that the global sales volume of new light vehicles in 2021 will be 83.4 million, with a year-on-year growth of 9%. China Automobile Association: in July 2020, the production and sales of vehicles will be 2.211 million and 2.211 million respectively Year on year growth of 21.9% and 16.4% respectively China Automobile Industry Association: from January to September 2020, China’s cumulative automobile production will be 16.957 million, a year-on-year decline of 6.7% China Automobile Association: in May 2020, China’s automobile sales will be 2.194 million, a month on month increase of 5.9% SMMT: in the first 10 months of 2020, British automobile production will drop by 33.8% China Automobile Industry Association: from January to November 2019, new car sales will be 23.11 million Year on year decrease of 9.1% anfavea: Brazil’s auto production will drop by 50.5% in the first half of 2020 IHS Markit: global mobile base station shipment will account for 30.9% in 2018 Markit: quantum dot displays will stimulate the growth of high-end display market IHS Markit: by 2022, LCD investment will dry up IHS Markit: it is predicted that the global AI application market will reach 128.9 billion US dollars in 2025

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