Hyperdrive
Carmakers Seen Producing 5 Million Fewer Vehicles After Russian Invasion
- S&P Global Mobility cuts 2022, 2023 view each by 2.6 million
- Forecaster formerly known as IHS Markit cites war, chip supply
Vehicles bound for shipment at a port in Yokohama, Japan.
Photographer: Toru Hanai/BloombergThis article is for subscribers only.
A closely watched auto-industry forecaster lopped more than 5 million cars off its projections for global production this year and next, largely due to fallout expected from Russia’s invasion of Ukraine.
S&P Global Mobility, formerly known as IHS Markit, lowered its 2022 and 2023 estimates each by 2.6 million vehicles. The forecaster now expects auto companies to make 81.6 million cars worldwide this year and 88.5 million next year.