Auto Demand Levels Remain Depressed on Chip Famine Alongside Race Between Vaccine & Variants

Auto Demand Levels Remain Depressed on Chip Famine Alongside Race Between Vaccine and Variants

Source: IHS Markit
IHS Markit forecasts new light vehicle sales of nearly 82.4 million globally in 2022, up 3.7%. IHS Markit projects the industry will finish out 2021 with nearly 79.4 million light vehicles sold, and industry demand levels will continue to be restrained next year as the semiconductor supply chain remains challenged. Tentative demand recovery will continue across most regions, assuming the ongoing availability of effective vaccines and apart from any major impacts from the Omicron variant.
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