No. The glut involves current generation chips. Auto makers use an older generation of chips that is still in short supply because no one wants to expand factory capacity for what are essentially obsolete chips. Current generation chips will take a while to be tested to see if they can handle the rigors that car chips go through.
Automakers use a lot of separate microcontrollers to do individual functions. These chips already have fairly small die sizes, so producing them on 7 nm versus 28 nm doesn’t increase the number of parts on a wafer by a factor of 16. Much of the wafer is taken up by connection points and allowance for the kerf when sawing the wafer into individual dies.
The glut is in DRAM, NRAM, server processors, high-end PC and tablet processors, smartphone processors, discrete graphics processing units, etc. This is mainly due to the saturation of the PC, gaming, bitcoin mining, and smartphone markets and the ensuing slump in sales.