EV Supply Growing Faster than Demand
Cox Automotive says it's soared 350% while consumers put off EV purchases over pricing and charging concerns.
Cox Automotive says it's soared 350% while consumers put off EV purchases over pricing and charging concerns.
Soaring material and parts costs offset benefits gained from a plunging Japanese yen and production rebound.
BMW will gradually resume production at its Munich and Dingolfing plants next week after suspending production over supply chain shortages.
The Ukraine invasion has ramped up the price of metals used in vehicles and OEMs likely will pass these costs on to consumers.
Aluminum jumped up to 4.8% to $3,449 a ton on the London Metal Exchange, while nickel rose to the highest level since 2011.
Commerce Secretary urges Congress to pass funding designed to boost domestic production of semiconductor chips.
The vehicle information site said a 1 percent uptick in auction sales volume last year could signal the end of the used-vehicle shortage.
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