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Global car production is estimated to shrink by about 1.4 million units

<Automotive News> reported on Monday (April 11) that forecaster AutoForecast Solutions (AFS) pointed out that global auto production has shrunk by about 1.4 million units so far this year, an increase of 98,900 units from last week's previous forecast. A global shortage of wafers has caused European car assembly plants to cancel an additional 97,600 production plans, cutting production by 747,000 so far this year, the latest AFS data show. European IC design services consultancy Sondrel warned on April 6 that packaging lead times have been stretched from 8-9 weeks to 50 weeks or more. Bloomberg recently reported that Susquehanna Financial Group issued a report stating that in March 2022, chip lead time increased by 2 days to an average of 26.6 weeks, the longest record since statistics began in 2017.
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