(ZEROHEDGE) – The expectations for the global automobile industry continue to look more and more pessimistic as the ongoing semiconductor shortage that has stung the industry for more than a year now shows no signs of letting up.
Among the latest pessimists were Goldman Sachs, who cut their 2021 production estimate for the industry today, but who also said the bad news may already be priced in, given the declines in the Stoxx 600 Automobiles & Parts Index the past 3 months, according to Bloomberg.
Goldman said that they see global production increasing 2.3% YOY this year, which was "materially below" their expectations at the start of the year.
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