As a result , S & P Global Mobility ( formerly the automotive team at IHS Markit ) has downgraded its 2022 and 2023 global light vehicle production forecast in the latest update by 2.6 million units for both years , to 81.6 million for 2022 and 88.5 million units for 2023 .
“ The outlook for North America light vehicle production was reduced by 480,000 units and by 549,000 units for 2022 and 2023 , respectively . Amid the backdrop of the Russia / Ukraine conflict , the March 2022 forecast update for North America reflects broad-based reductions spanning virtually every automaker amid the potential for the conflict and subsequent sanctions to impact the production of semiconductors in the second half of 2022 . Lingering supply chain , labour and logistics challenges remain material concerns ,” commented the analyst .
The average age of light vehicles in the U . S . reached an all-time high in 2022 as the vehicle fleet climbed to 283 million passenger cars and light trucks . The average age of light vehicles in operation ( VIO ) in the U . S . rose to 12.2 years this year , increasing by nearly two months over the previous year , according to new research from S & P Global Mobility .
“ The global microchip shortage , combined with associated supply chain and inventory challenges , are the primary factors pushing U . S . average vehicle age higher , according to the analysis . Chip supply constraints have caused continued parts shortages for carmakers , who have been forced to cut production . The constrained supply of new cars and light trucks , amid strong demand for personal transportation , could have influenced consumers to continue operating their existing vehicles longer , as inventory levels for both new and used vehicles were depleted across the industry ,” explained the analyst .
The ongoing effect of supply chain constraints has also led to a decrease in vehicle scrappage .
“ The average age of light vehicles in operation ( VIO ) in the U . S . will continue to have upward pressure through 2022 and 2023 , as the pipeline for new vehicle production and sales continues to be weighed down by parts ’ shortages . The increasing use of sophisticated technology in vehicles will also maintain pressure on semiconductor supply . The ongoing Russia-Ukraine crisis remains a potential impact to the new vehicle supply chain in the coming year ,” concluded the analyst . n
FABTECH 2018 .
The Cloud Gate metal sculpture in Chicago ( Lance Anderson , Unsplash ).
FABTECH in focus
North America ’ s largest metalforming , fabricating , welding and finishing event heads to the Georgia World Congress Centre in Atlanta from 8-10 November 2022 . Live equipment demonstrations , featured keynotes , expert panels and other special events will allow attendees the opportunity to interact with a large gathering of technical experts and visionaries to learn what ’ s new and what ’ s next in manufacturing .
The FABTECH Event Partners include five associations : the American Welding Society ( AWS ); the Fabricators & Manufacturers Association , International ( FMA ); SME , the Precision Metalforming Association ( PMA ) and the Chemical Coaters Association International ( CCAI ).
FABTECH 2022 will encompass three halls at the Georgia World Congress Centre where attendees will find a variety of technology pavilions dedicated to Forming & Fabricating ; Tube & Pipe ; METALFORM ; Welding ; Finishing ; 3D / Additive Manufacturing and Robotics & Industrial Automation . FABTECH 2021 welcomed over 24,000 attendees and almost 1,000 exhibitors .
Do you want to grow your business ? But can ’ t find the workforce or meet your target production volumes ? AWL helps you take the next step . Join us during the EuroBLECH or visit our website .
Visit us at EuroBLECH Hall 26 | Stand D50
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