AutoBeta(AutoBeta.net)12/23 Report--

According to the latest data from automotive industry data forecasting company AutoForecast Solutions (AFS), as of December 18, due to the shortage of chips, the global auto market has reduced production by about 4.4142 million vehicles this year, and this number is expected to climb to 4.5486 million by the end of the year.

Honda is again facing production cuts due to a shortage of semiconductors and other components, the spread of COVID-19 's epidemic and stagnant logistics, Honda announced on its website on Dec. 22. Honda said its plant in Saitama prefecture north of Tokyo would cut production by about 20 per cent in December 2022 and mid-January 2023 respectively, while two production lines at the Suzuki plant in western Japan would maintain their original production plans. The factory mainly produces Honda Civic, Stepwgn and other models, before that, Honda Civic, Stepwgn2 models have to wait for half a year, but this factory continues to reduce production or further extend the delivery time.

Honda noted that due to delays in receiving and logistics of spare parts caused by outbreaks and semiconductor shortages, as well as changes in production conditions, users who have placed orders may not be able to meet the initially announced delivery date, depending on the model; for users who order later, the currently announced delivery date is the current delivery date forecast, and the delivery time may be longer than expected.

Data show that in November 2022, new car sales in Japan were 377079, up 7 per cent from a year earlier, with growth slowing, with Honda sales up 8.9 per cent to 51600, Toyota down 5.1 per cent to 107300, Nissan up 2.2 per cent to 37000 and Mazda 10.8 per cent to 11900.

In the Chinese market, Japanese car companies, including Toyota, Honda, Nissan and Mazda, all performed poorly in China in November, with Mazda China and Nissan China falling more than 50%. Toyota car sales fell 18.4 per cent year-on-year to 140400 vehicles in November, Nissan China fell 52.5 per cent to 48000 vehicles, Mazda fell 59.6 per cent to 5959 vehicles, while Honda China fell 42.8 per cent to 78100 vehicles, according to Automotive Industry concern.

It should be noted that this is the third consecutive month that Honda has experienced a year-on-year decline in China, with Honda China falling 16.8% and 28.5% respectively from September to October compared with the same period last year. Honda's sales in China have declined more and more significantly after the end of the traditional "Golden Nine and Silver 10" sales season in the car market, which is also the highest decline in Honda sales since the outbreak of the epidemic in 2020. GAC Honda's terminal sales in November were 45512, down 34.2% from a year earlier. Dongfeng Honda terminal sales were 32614, down 51.7 per cent from a year earlier. Industry analysis may be affected by the epidemic and the global shortage of semiconductors for the reasons for Honda's continued decline in sales in China. According to previous reports, production at Dongfeng Honda's three vehicle plants in Wuhan was suspended for two days from November 28 to 29 due to the epidemic.

As for the follow-up chip supply, AFS said that although the global automobile supply chain is looking for ways to restore chip supply, it is generally believed that the chip shortage may last until next year. The good news is that the chip shortage problem next year will be significantly improved compared with this year.

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