Intermoney | In June, vehicle production in Spain fell to 172,696 units produced, down 18.1% on last year’s levels and 33.8% when compared with data from two years ago, according to figures published Thursday by the manufacturers’ association, Anfac.
In the accumulated first half of the year, the fall is 21.6% compared to pre-Covid levels of 2019, with 1.2Mn vehicles manufactured.
According to Anfac, the fall is due to the shortage of semiconductors, which is forcing companies to implement ERTEs until the pace of chip supply recovers.
According to Intermoney’s analysis team: While the second quarter is likely to be the hardest hit by the chip shortage, the industry expects the problem to continue throughout the second half of this year and the first half of 2022 as well.
According to IHS, the semiconductor shortage has had an impact of 1.43Mn fewer vehicles produced in Q1’21 and 2.27Mn fewer vehicles produced in Q2’21. However, the latest forecast for the full year is for 83Mn vehicles to be produced globally, which is only 1.5Mn lower than the 84.5Mn expected at the beginning of the year. While the chip issue has had a negative impact of about 4Mn vehicles in the first half alone, demand remains very strong, with the overall market recovering at a double-digit rate (+11.4%) in FY’21. And forecasts for 2022 improving to 90Mn vehicles produced (+8.4%), already above pre-COVID levels (89Mn vehicles produced in 2019).
