North America and China Make No Vehicle Production Cuts amidst Continued Global Chip Challenges

While Global microchip production has slightly improved over recent months, output volume continues to pose challenges for global automotive manufacturing facilities. As a result, automotive manufacturing facilities are continuously revising year-end forecasts. However, in the most recent forecast updates, North American, Chinese, and South American facilities made no downward production estimates. Meanwhile, European and Middle East assembly plants pulled over 40,000 and 11,000 vehicles from production in the last few weeks, respectively.