Automakers have been struggling since 2020 to launch their new vehicles on time. Shifts to creating electric vehicles and the COVID-19 pandemic created large supply chain issues. These issues have increased delays for new vehicles to be launched.
PwC Consulting discovered in a report that 34% of vehicle launches 2023 had production delays. An additional 21% of delays were "due to other factors". PwC did a calculation of production delays with issues such as quality standards, supply chain issues, and workforce situations. They compared actual to planned production dates.
Within this analysis, automaker delays can cost them around $200 million annually. Compare this to 2018, where 5% of launches faced delays and 18% had setbacks from other issues. 2023 saw automakers complete 45% of their launches, the most since 2019. Delays dropped to 30% in 2022 with 39% of production delays.
According to the PwC report, there are several reasons for the delays. These include the advancement of driver assistance systems, various software issues, and more EV vehicle launches. PwC's reports expect that the production setbacks will last until 2026.
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