About 1.23 million vehicles have been axed worldwide so far this year because of the microchip shortage.
Automakers removed 27,240 vehicles from their global production schedules last week because of the unrelenting shortage of microchips, according to the latest estimate by AutoForecast Solutions.
Each region of the world made new factory cuts last week, with plants in Asia outside of China leading the way by trimming 11,672 vehicles. Meanwhile, companies axed 8,510 vehicles at North American assembly plants.
About 1.23 million vehicles have been axed worldwide so far this year because of the microchip shortage.
Automakers removed 27,240 vehicles from their global production schedules last week because of the unrelenting shortage of microchips, according to the latest estimate by AutoForecast Solutions.
Each region of the world made new factory cuts last week, with plants in Asia outside of China leading the way by trimming 11,672 vehicles. Meanwhile, companies axed 8,510 vehicles at North American assembly plants.
Automakers and their supply chains have invested hundreds of billions of dollars in emerging technologies that promise to transform how vehicles are constructed and how people will get around. That investment stream is now outpacing other industries' quests for innovation.
The news has been relentless lately telling us about wondrous new plans and technologies that will take the auto industry into a remarkable new future. This week, we zoom a little closer into that picture to show you some specific examples of technological change in the making.
It's already shaping up to be another bumpy year for parts suppliers as they get the financial squeeze from inflation and rising interest rates while navigating uncertainty in the economy and the new-vehicle market.
"The squeeze is really being applied to suppliers right now because of the drop in sales volumes, as well as the rising raw material and labor costs that continue," said Paul Carrannanto, a principal in the industrial manufacturing and automotive sector for PwC.
Automakers are hopeful last year’s new vehicle sales — the worst in more than a decade — will mark a bottom for the market, at least in the near term.
Industry estimates range from 13.7 million to 13.9 million new vehicles being sold last year in the U.S., a roughly 8% to 9% decline compared with 2021 and the lowest level since 2011 when sales were recovering from the Great Recession.
“The New Normal'' is a term which has been used to describe a fundamental change in the world situation. The notion is that there has been an inflection point and the world before and after this inflection point are materially different. While this inflection point can be a sudden event such as the “dot-com” crash, in many situations the new “normal” reveals itself over time. A classic example of this latter shift has been the rise of ecommerce.
Gideon Kedem argues that cameras, radars and LiDAR are all vital to autonomous driving
There has been much debate about sensor technology within the automotive industry and the role that cameras, radars and LiDARs will play in the future of autonomous driving. The discussion has centred around the cost and viability of each sensor type, prompting some automakers to move away from radar and LiDAR solutions in favour of camera-based autonomous technology.
