Production cuts in the North American automotive industry continue to grow over persistent semiconductor supply issues.
Production cut estimates for 2022 surged by 73,000 vehicles over the last week to 693,000, according to the latest estimates from AutoForecast Solutions released today.
As losses continue to mount for the year, the production of another 450,000 vehicles remains at risk.
The region's automotive industry has been beset by persistent shortages since January 2021, and has lost the production of 2.98mn vehicles since then.
Japanese automaker Honda, which has auto and parts plants throughout Canada, Mexico and the US, expects fourth quarter production to improve as parts supply pipelines improve.
