Categories: News

5 million fewer cars

A survey has shown that due to the semiconductor shortage, global production will drop by about five million cars this year alone.

Recently, it was Jean-Marc Chéry, the boss of STMicroelectronics, a company manufacturing semiconductors, who said that the shortage of electronic chips would last at least until 2022. The shortage that has hit the world since last year is not about to end, quite the contrary. And this impacts in a very concrete way the global vehicle production.

At least 5 million fewer vehicles produced worldwide

According to a recent study, the semiconductor shortage in the auto industry will cause a production shortfall of about five million vehicles this year. By the end of the year, 74.8 million new registrations are expected worldwide, which would represent an increase of 9.3% compared to the year of Coronavirus in 2020, according to the analysis of a German research center in Duisburg.

However, it has been estimated that without the semiconductor crisis, it would have been close to 80 millions of cars that could be sold this year.

According to the study, the situation will worsen in the second half of the year, delivery times are expected to lengthen and there will be further production losses in 2022.

Lower growth in the second half of the year

In the first five months of this year, the global auto market grew 34% compared to the same period last year, according to the study. In the second half of the year, growth should be much lower.

It is to be expected that the shortage of semiconductors, the base material for microchips that are used for several electronic components in cars, have an impact until the beginning of 2023.

After this crisis, a new bottleneck should be felt, that of the battery cells of electric cars. Indeed, the demand for batteries lithium-ion threatens to exceed supply in the near future, with the rise of electric cars.

Source: Automobile Week

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