Global auto recovery to take more hits from Japan chip plant fire, severe U.S. weather: IHS
(Reuters) - A recent fire at a Japanese semiconductor factory and severe weather in parts of the United States in February have exacerbated an ongoing chip shortage plaguing the global auto industry, data firm IHS Markit said on Wednesday.
IHS said it now expects disruptions to the production of nearly 1.3 million global light vehicles, up from a prior forecast of 1 million in the first quarter.
A chip-making factory owned by Renesas Electronics Corp, which accounts for 30% of the global market for microcontroller units used in cars, was hit by fire earlier this month. The company said on Tuesday it would take at least 100 days for production to normalize at the plant in northeast Japan.
IHS Markit also said vehicle output would be affected by unseasonably cold weather that gripped the southwestern parts of the United States last month, with ...
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IHS said it now expects disruptions to the production of nearly 1.3 million global light vehicles, up from a prior forecast of 1 million in the first quarter.
A chip-making factory owned by Renesas Electronics Corp, which accounts for 30% of the global market for microcontroller units used in cars, was hit by fire earlier this month. The company said on Tuesday it would take at least 100 days for production to normalize at the plant in northeast Japan.
IHS Markit also said vehicle output would be affected by unseasonably cold weather that gripped the southwestern parts of the United States last month, with ...
Read More on Datafloq
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