According to the results of 2021, underproduction of cars in the world will amount to 9.6 million units. This forecast was published by the consulting agency LMC Automotive, according to The Telegraph.
The global car market in 2021 shows an increase of 12% and a total of about 84.9 million passenger cars will be produced. However, it should be borne in mind that they compare the figures with the quarantine year 2020, when the auto production collapsed, since most companies stopped factories for a long time.
At first, forecasts for 2021 were much more optimistic, but the shortage of microchips did not allow the car market to recover to the level of 2018-2019.
A number of enterprises in the industry had to stop again and the real market indicators worsened compared to the forecasts for 9.6 million cars. Most of all, the shortage of microcircuits hit Europe – there the underproduction amounted to 3 million cars. LMC Automotive suggests that the situation will begin to improve no earlier than the second half of 2022. It will be enough to overcome the microchip deficit only in 2023.
It was the lack of microchips that caused the drop in demand for used cars from the USA in Ukraine. And Toyota even started using defective parts to avoid stopping the conveyor.