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

FILE PHOTO: A car body is moved in a production line at the Volkswagen plant in Wolfsburg

WASHINGTON (Reuters) – 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.

(Reporting by David Shepardson; Editing by Chris Reese)