September 21, 2021
Toronto, Ontario — Constraints in the Canadian supply chain continue to put the squeeze on automotive suppliers as Axalta said that they are expecting a $40 million drop in net sales for Q3 this year.
With the microchip shortage and raw material inflation a daily reality for the global automotive industry, Axalta has decided to scale back its financial guidance to account for these obstacles.
According to industry forecasts, light vehicle production is expected to incur these disruptions into 2022, which Axalta expects will affect 11 million units for 2021.
As well, weather events in the southern U.S. continue to put strains on the wider automotive supply chain.
