Chip shortage could impact nearly 1 million vehicles of production in first quarter

A shortage of auto semiconductor chips could impact nearly 1 million units of global light vehicle production in the first quarter, data firm IHS Markit said on Tuesday, significantly upping a prior forecast.

The firm on Feb. 3 estimated the issue would impact 672,000 vehicles through March 30. IHS Markit said it still expects the majority of volume can be recovered in the remainder of 2021.