It took almost 3 years to see a glimmer of hope at the end of the tunnel with regard to the automotive industry’s parts supply problems, but everything finally seems to be on the mend. While several factories around the world continue to suspend their assembly lines due to shortages, the North American manufacturing industry is doing well. For almost a month, all our factories have been running at full capacity.
Europe is the most affected
If we rely on the most recent data from AutoForecast Solutions
published in Automotive News, we note that, in fact, there has been no stoppage of production in Canadian and American factories during the last 3 weeks. We observe the same story on the side of Chinese and South American factories.
However, it is Europe that continues to suffer due to a lack of parts. Its manufacturing industry had to remove 48,813 vehicles from its annual projections. On the side of the Asian factories located outside of China, it is a question of a little more than 30,000 new vehicles which could not be built last week. In total, in the world, it is a little more than 80,000 vehicles that have not left the assembly lines.
Despite this bad news, the situation is nevertheless improving everywhere on the planet, especially in our market. According to the Vice President ofAutoForecast SolutionsMr. Sam Fiorani, the North American automotive industry is not expected to experience any more large-scale disruptions in the coming months, which could allow it to make up for lost time and reduce production delays. waiting.
Remember, however, that to date, just over 800,000 new vehicles had not been built in North America due to a lack of parts. By the end of this year, it is estimated that just over 900,000 vehicles will be missing. However, if the trend continues, this number could drop by December. Since January 2023, more than 1.9 million new vehicles have not been built worldwide.
Conclusion
It was clear that we were all going to come out of this crisis one day. Everything suggests that the automotive industry is slowly recovering from the consequences of the COVID-19 pandemic, which is very good news for consumers who have been waiting for their new vehicle for more than a year. The battle is not over, however, because even if inventories slowly fill up, consumers will have to think twice before signing up for a car loan at such a high interest rate.
