Cuts in car production volume globally due to the semiconductor shortage 2021-2023
global semiconductor shortage. Although the supply of semiconductors for the automotive industry is slowly increasing and automakers are adjusting to the new reality, the coming years will still see reduction in the global car production. It is projected that in 2022, around seven million cars will be removed from production, before dropping to 1.3 million in 2023.
An estimated 11.3 million units of vehicles were cut from production worldwide in 2021 due to the