As we embark on Q4, we estimate the ongoing semiconductor shortage has caused 7.4mn units of lost global light vehicle production during 2021 so far. We currently forecast 2021 global light vehicle sales of 80.8mn units (+8.3% y/y growth), which means the YTD production losses have already hit 2021 volume growth by 10.0 percentage points, excluding those losses yet to be incurred in Q4. {chart} Q4 interruptions bumping along the bottom: The production disruptions have worsened sequentially as 2021 progressed. The lost units in Q3 (3.4mn) were more than double (2.4x) those lost in Q1 (1.4mn), and each of the last ... (full story)