Last week, the German auto industry association VDA cut its forecast for the nation’s car and SUV output to growth of 3%, down from a previous forecast of a 13% gain. This would bring annual production down to 3.6 million in 2021, 400,000 lower than its previous forecast.LMC said June sales in Western Europe are 24% below the same period of 2019, before the pandemic struck.
Investment bank UBS said stocks and prices of semiconductors are stabilizing but from extreme levels, while supply tightness will last well in 2022 as stocks have not yet started to increase. “Covid has had one beneficial effect: It revealed the inherent fragility of overextended supply chains, and the lack of visibility that comes from an overreliance on paper documentation and manual management. And it’s not like businesses haven’t had any warning: Brexit, climate events and Trump’s trade wars have all exposed the inherent vulnerabilities of overly-rigid, just in time supply chains,” Lanng said in an email.
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