With the automobile companies around the globe prioritizing to supply chips for regions outside of China, the automobile JV companies between Chinese and foreign brands have seen massive reduction in production output while the impacts of semiconductor shortage on China's passenger vehicle market continued to intensify over 2Q, reported Fitch Ratings.
Fitch Ratings forecast the chip supply to gradually increase from 3Q21, which would be beneficial to the recovery of production output, and expected the full-year passenger car delivery amount in China to maintain a high single-digit growth.
Fitch Ratings forecast the chip supply to gradually increase from 3Q21, which would be beneficial to the recovery of production output, and expected the full-year passenger car delivery amount in China to maintain a high single-digit growth.