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.
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 deadly snowstorms lashing Texas and hurting factory production and retail sales. The automobile industry has been grappling with a shortfall in chip supply since the end of last year, driven by coronavirus lockdowns in Southeast Asia and bulk-buying by U.S. sanctions-hit Chinese tech giant Huawei Technologies, among other reasons.
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