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Executive Director, Global Light Vehicle Production Forecast, S&P Global Mobility
While the March 2022 forecast update reflected the impact of Russia's invasion of Ukraine, the April update addresses some additional challenges that have arisen, including a rather sluggish recovery in semiconductor supplies, the impact of further COVID lockdowns in China and the longer-term influence of high raw material prices that will put added pressure on new vehicle affordability.
"Currently the greatest risk to the outlook comes from the threat of further or prolonged lockdowns in mainland China and the contagion into already stressed global supply chains," said Mark Fulthorpe, Executive Director, Global Production Forecasting, S&P Global Mobility.
The April 2022 forecast update reflects noteworthy reductions for several markets, with the most significant reductions focused on Europe and Greater China.
The following reflects the S&P Global Mobility April 2022 Light Vehicle Production Forecast update:
The more noteworthy regional adjustments with the latest forecast update are detailed below:
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This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.