BAKU, Azerbaijan, Aug. 30
By Sadraddin Aghjayev - Trend:
The recovery of the global market for automakers and supplies will resume no earlier than the second half of 2022, Trend reports citing the BCG (Boston Consulting Group) international consulting company.
According to BCG, the production losses of global automakers in the third and fourth quarters of 2021 will approach 3 to 5 million cars.
“Chip shipments are gradually resuming, but the coronavirus pandemic continues to make adjustments. In particular, more active recovery of production in the third quarter is not happening due to the outbreak of the Delta strain. Thus, the supply of microchips is expected to reach the level when it can meet the demand of the industry, that is, not earlier than the second half of 2022. This situation could negatively affect plans for the development of electric vehicles, which are more dependent on electronic components than traditional cars. We also see that manufacturers of other components are starting to think about adjusting the volume of production due to the forced drop in demand from the auto industry. If this happens without close interaction between the parties, then there will be the possibility of a systemic and rather long-term disruption in the supply chains,” the BCG said.
The most significant production losses in the first half of the year were at Ford (production fell by more than 700,000 cars), Stellantis (brands Chrysler, Citroën, Dodge, Fiat, Jeep and others - a drop to about 600,000 cars) and Renault- Nissan-Mitsubishi (fall by more than 415,000 cars).
“Currently, the car industry is gradually increasing its capacities for the production of microcircuits, however, in the fourth quarter, high demand for them is expected for them from other industries, due to the expected increase in sales of consumer electronics in connection with the school period and the New Year holidays,” the message says.
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