So they're cutting production by a few shifts for a week? That hardly seems like a significant change.
The company reports earnings today after the market closes, so I read the "for a week" part as calm optimism. Same goes for the "this could be over after the first half of 2021" comments (paraphrasing) from Ford and others affected by chip shortages. If demand stays high, then the only way out of this shortage is to build more fabs, and that takes time. Bosch has been building a fab for the past 3 years and AKM had to outsource to Renesas because its production was affected by a factory fire.
Oops.
The automakers love to fuck over their suppliers like this. But, sucks for them, those same chip makers have other customers who continued to order chips. Which, in production volume, can have leadtimes of 26 weeks or more.
Hybrid and EV production is more semiconductor-laden than traditional ICE production: https://ihsmarkit.com/research-analysis/global-automotive-se...
Total vehicle sales have entirely recovered after initially collapsing during the March 2020 lockdowns: https://fred.stlouisfed.org/series/TOTALNSA
Supply reliance upon TSMC and Samsung (customers include QCOM, NVDA, AMD, AAPL, MSFT) is a bottleneck that means CPUs, GPUs, SoCs, etc take longer to go from "oh there's more demand than expected" to "hey, that additional quantity just shipped": https://www.extremetech.com/computing/319580-amd-warns-xbox-...
Similarly, that bottleneck means that increased demand from one segment affects supply availability for all the others: https://www.scmp.com/tech/tech-trends/article/3120449/semico...
Trump body-slammed China's chip industry: https://www.reuters.com/article/us-autos-tech-chips-focus/tr...
The bigger issue has been the rolling effects of the pandemic supply chain interruption. All these factories are operating on a just-in-time system. They carry 0 inventory (often getting multiple shipments per supplier per day straight onto the factory floor). Semiconductors happen to have a deeper depth of those steps (Mine silicon->build/process dies->doping->wirebonding and packaging->PCB assembly->final assembly) than most of the other bits, and every single step in that process has been running with effectively zero slack. Once there's a single interruption anywhere in the line, it echoes forever (see [1]
Just in time works great when your suppliers don't have correlated failures. It goes to hell and can take a really long time to recover from when lots of suppliers start failing.