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Semiconductor shortage will slow recovery in global auto sales

International credit rating agency Standard & Poor's (S&P) announced that the intensifying semiconductor shortage will slow the recovery after the new type of coronavirus (Kovid-19) epidemic in global light vehicle sales in the next 2 years.

Semiconductor shortage will slow recovery in global auto sales

In the statement made by S&P, it was noted that light vehicle sales, which were previously expected to increase by 8-10 percent, are expected to increase between 2 and 4 percent annually in 2021.

In the statement, it was stated that the intensifying semiconductor shortage will slow the recovery after the Kovid-19 outbreak in global light vehicle sales in the next 2 years.

Pointing out that vehicle sales are expected to remain slightly below 80 million this year, the statement reminded that the said sales forecast was previously at the level of 83-85 million.

In the statement, it was stated that the chip shortage is expected to extend until 2022, and it was noted that the forecast for 2022 light vehicle sales was revised from 87 million to 84 million.

S&P said in its statement that supply restrictions will gradually ease and light vehicle sales are expected to reach 90 million by the end of 2023.

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