Agency: Chip Shortage Has Caused Global Auto Makers To Cut Output By 1.157 Million Units

- Mar 31, 2021-

According to AutoForecast Solutions, six automakers around the world added more than 65,000 vehicles that have been cut due to chip shortages. So far, the chip shortage has cut the global auto market by 1.157 million units. It is expected to reduce the global auto market by more than 2 million vehicles in 2021.

According to incomplete statistics, since the beginning of March, Volvo, General Motors, Ford, Toyota, Honda, Nissan and other multinational car companies have said that they have suspended the production plans of some factories due to the tight supply of semiconductors. Also on March 26, Nio, one of the representative companies of China's new car-making power, announced that it would suspend production activities at its Hefei factory for five working days starting from January 29.