More cars and trucks are now expected to not be built as semiconductor shortages continue to plague the industry, according to new estimates.
AutoForecast Solutions has increased the amount of production cut estimates by North American automakers by 35,000 vehicles in the last week, increasing the count to 573,000 vehicles lost in 2022.
The number of lost auto builds remain a far cry from the 2.29mn vehicles that AutoForecast Solutions estimated were lost in 2021 from semiconductor shortages.
Another 450,000 vehicles remain at risk.
Last week Ford reported it expects to have between 40,000-45,000 incomplete vehicles in its inventory waiting on missing parts. Those vehicles are said to be mostly high-end and steel and aluminum-intensive trucks and SUVs and are expected to be completed and shipped to dealers in the fourth quarter.
The automotive industry is one of the largest consumers of steel products in North America. The average North American vehicle consumes 1,980 lbs of steel, of which approximately 1,480 lbs are flat-rolled products, as well as 486 lbs of aluminum, according to data from the American Iron and Steel Institute's automotive program.
