Consulting agency LMC Automotive has published a fresh report, which outlined the timing of the end of the shortage of microchips in the automotive industry. If experts’ forecasts come true, global car sales will increase by 6% in 2022.
Autonews Europe got acquainted with the report of LMC Automotive agency. According to experts, the shortage of microchips in the automotive industry will be observed until the third quarter of 2022, and then things will go smoothly. This will lead to a 6% increase in sales compared to 2021 (up to 85 million units). In Europe, growth will be 7% (17.8 million units), in North America – 6% (18.7 million), in China – 5% (26.6 million), in South America – 9% (3.6 million ), and in Asia – 7% (15.3 million).
This year, automakers will continue to struggle to provide buyers with enough cars, according to LMC Automotive Managing Director Pete Kelly. At least in the first three quarters. Already by the II quarter, the period of suspension of the production of cars due to a shortage of microchips will end. However, due to the lack of chips in 2022, a total of about 4.8 million vehicles will not be produced.
Buyers should definitely not count on a decrease in car prices: demand far exceeds supply. Particularly acute shortages are observed in mature markets, and for now it will persist. A full recovery of the market, according to Kelly, should be expected only in 2023. At the end of 2021, according to experts, the underproduction of cars amounted to 9.6 million units.