Although a moving target due to the chaos currently in the region, Wards Intelligence partner LMC Automotive expects initial fallout from Russia's invasion of Ukraine to be 500,000 units of lost light-vehicle production in Russia in 2022 - about one-third of the month-ago outlook. Forecast production in Russia has been chopped to 1 million units in 2022, and the outlooks for 2023 and 2024 also have been cut. LMC also expects the already extremely small volume of vehicles assembled in Ukraine to mostly dry up in 2022, with production totals in nearby Belarus and Kazakhstan likely negatively impacted, too.
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LMC: Invasion of Ukraine Could Cost Russia One-Third of Its 2022 Vehicle Production
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The Analyst Team
Haig Stoddard
Follow AnalystPrincipal Analyst, Forecast & Markets
Haig has followed the auto industry for over three decades, starting as a reporter and editor for Wards Automotive Reports, then transitioning to an automotive market analyst. He analyzes market trends related to new-vehicle demand, production, and powertrain take-rates, and forecasts vehicle connectivity and automation levels
Haig focuses on tying together demand, vehicle production, and powertrain trends. He also has created and co-created several of the company’s current analytical outputs related to forecasts, plant capacities, product cycle plans, market segmentation, and future vehicle propulsion reports. Currently, he supports the Wards Intelligence database and produces regularly scheduled and custom subscription-based posts tied to North American production, sales analysis, forecasts, and general global market analysis. He also is working on projects to help expand the company’s coverage of future trends by creating vehicle-based forecasts related to factory-installed equipment, such as ADAS and mobility.
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