Global car production forecast for 2021 cut by 5 mn units: Report

IHS Markit has slashed its light vehicle production forecast for this year by 6.2%, or 5.02 million units, amid supply-chain issues, including the global chip shortage. It lowered its projection for 2022 by 9.3%, or 8.45 million cars and trucks. "This is the largest single adjustment to the outlook in what has been a turbulent past nine months," it said.