Semiconductor shortages and the delayed packaging and testing of the chips will cause production of global light vehicles to drop by five million this year, data firm IHS Markit said on Thursday, marking the biggest cut to its outlook in nine months.
Citing supply chain challenges, IHS said it was cutting its light vehicle production forecast by 6.2% for 2021 and 9.3% for 2022, to stand at 75.8 million units and 82.6 million units, respectively.
Packaging and testing operations within the semiconductor sector in Malaysia were impacted due to the government's lockdown measures in early June, IHS said, compounding difficulties in an already constrained supply chain.
"Our interpretation of the situation in MalaRead More »
Friday, 19 May 2017 NEW DELHI: General Motors said on Thursday it will stop selling cars in India’s highly competitive market this year and use its manufacturing facility in the country for exports. The move is part of the US automaker’s restructuring of its international business to focus on the …Read More »