Forecasts for North American automotive production dropped as semiconductor shortages continue to drag on the industry.
AutoForecast Solutions increased the number of automotive builds expected to be lost in 2022 by 106,000 vehicles to 254,000. Another 300,000 are at risk of not being built, with just over 200,000 listed as recoverable, according to the forecaster's weekly update.
The weekly jump pushed North American losses above Europe's estimates of 214,000 vehicles lost in 2022. Europe had led the world in regional losses as the continent deals with the impacts of regional supply chain disruptions.
The automotive industry is one of the single largest consumers of steel products in North America. The average North American vehicle consumes 1,980lbs of steel, of which approximately 1,480lbs are flat-rolled products, and 486lbs of aluminum, according to data from the American Iron and Steel Institute's (AISI) Automotive Program.
Using those estimates approximately 188,000 short tons of flat-rolled steel product consumption has been lost this year from the curtailed production.
