Automakers cut 49,330 vehicles from production plans at their North American factories this week because of the microchip shortage, according to the latest estimate from AutoForecast Solutions.
Companies axed production only at their North American plants this week, the forecasting firm said. Year-to-date estimates for every other region of the world were unchanged from a week earlier.
Still, the shortage has yet to be “relegated to the history books,” said Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions. And automakers could be unwilling to give up the high margins that low vehicle supply created, he said.
“The shortage provides an excuse for reduced access to high-demand vehicles, raising their prices and increasing their profit levels,” Fiorani said.
