AFS:2021 annual global car production reduction of 10.2 million vehicles in 2022 or 770000 vehicles

According to foreign media reports, according to the data of AutoForecast Solutions ((hereinafter referred to as AFS), due to the shortage of chips in 2021, the global automobile market has reduced production by about 10.2 million vehicles. AFS predicts that the global auto industry may be smoother in 2022 than in 2021.

In 2021, car factories in Asia were the hardest hit of any region, reducing production by more than 3.6 million vehicles. Of this total, China reduced production by about 1.98 million vehicles, accounting for about 19 per cent of the cumulative global car production reduction, while the rest of Asia reduced production by about 1.74 million vehicles. North America followed, cutting production by about 3.1 million cars, while Europe lost nearly 3 million cars.

AFS predicts that the global auto industry may be smoother in 2022 than in 2021. The semiconductor industry continues to increase production and try to make up for chip shortages in the global supply chain.

Although global carmakers will still cut car production this year, AFS's latest forecasts show that global car production losses will be significantly reduced by 2022. AFS estimates that the cumulative production reduction in the global car market in 2022 is expected to be 767700 vehicles, accounting for about 7.5 per cent of the cumulative reduction in global car production last year.

According to the latest data from AFS, the cumulative production reduction in the global car market in 2022 was about 47300 vehicles as of January 9. Of these, Europe had the largest reduction in car production, with about 23600 vehicles, followed by South America with about 13800 vehicles, and North America lost 9800 vehicles.