July 27 (Reuters) - Forvia, the European car parts maker born from Faurecia's takeover of Hella, on Thursday raised its annual sales and margin forecasts, saying global auto production was growing faster than previously thought.

Worldwide automotive production grew by more than 10% in the first half of the year, driven by sustained demand and gradual improvement in semiconductors supply, CEO Patrick Koller said in a statement.

The automotive industry is recovering from a pandemic-induced global chip shortage that hit production.

Forvia, the world's seventh-largest automotive supplier, revised its estimate for global auto production to around 86 million light vehicles versus the initial estimate of 82 million.

It expects 2023 sales of 26.5-27.5 billion euros ($29.4-30.5 billion), up from the previous outlook of 25.2-26.2 billion, and an operating margin of between 5.2% and 6.2% of sales, versus 5% to 6% before. ($1 = 0.9007 euros) (Reporting by Michal Aleksandrowicz in Gdansk; Editing by Milla Nissi)