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- The microchip shortage that began in 2020 is still affecting the automotive industry, and it is expected that 2-3 million units will be cut from production in 20231. Some chip shortages may continue into 2023 and 2024, but overall supply of semiconductors and raw materials is expected to improve in the auto sector2.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Automotive manufacturers are still dealing with the effects of the microchip shortage that began in 2020. Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions, told reporters that he believes the industry will see 2-3 million units cut from production in 2023.www.automoblog.com/will-chip-shortage-end-in-20…Some chip shortages could remain through 2023 and into 2024, though supply of semiconductors and raw materials will generally improve in the auto sector. The auto sector can expect a strong year in 2023, with global car production up 3%. As semiconductor supply returns, global auto pricing should remain stable.www.jpmorgan.com/insights/global-research/suppl…
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