Autos

Russian-Ukraine war to lower car production by millions of units

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A worker attaches a wiring harness to the chassis of an X model SUV at the BMW manufacturing facility in Greer, South Carolina, November 4, 2019.

Charles Mostoller | Reuters

DETROIT – The war in Ukraine is expected to lower global light-duty vehicle production through next year by millions of units, according to S&P Global Mobility.

The automotive research firm, formerly known as IHS Markit, on Wednesday downgraded its 2022 and 2023 global light vehicle production forecast by 2.6 million units for both years, to 81.6 million for 2022 and 88.5 million units for 2023.

The conflict has caused logistical and supply chain problems as well as parts shortages of critical vehicle components. Most…



Source cnbc.com

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