The global shortage of semiconductors has slammed production at South Korean automakers over the past three months.
According to the Korea Automobile Manufacturers Association, local carmakers in the third quarter saw production decline by almost 21 percent on-year, marking the biggest on-year decline since the 2008 global financial crisis.
Production had been rising this year, and the shortage was expected to ease by this month, but car factories in Southeast Asia were hit by virus lockdowns.
Reports say the shortage could force Hyundai Motor and Kia Motors, to postpone the launch of new models.
The shortage is now expected to last until 2023, causing the production backup to get worse before it gets better.