Photo: FordThe current shortage of computer chips could last longer than expected, prolonging a shortage of new cars and trucks, and correspondingly high prices, potentially through all of next year, according to LMC Automotive. “Light” vehicles are passenger cars and light trucks — that is, not counting medium- and heavy-duty trucks, like 18-wheelers. Compared with expectations just three months ago, LMC Automotive said its global light-vehicle auto production forecast for 2021 is now lower by 6 million units, at 81 million. LMC Automotive has also shaved its 2022 global light-vehicle forecast by 8% compared with its forecast as of the second quarter, to 85 million, the company said. U.S. auto sales were around 1.1 million in August, 17.2% below August 2020, according to Motor Intelligence.

Source: Forbes September 26, 2021 19:29 UTC