
Cox Automotive says it's soared 350% while consumers put off EV purchases over pricing and charging concerns.
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Soaring material and parts costs offset benefits gained from a plunging Japanese yen and production rebound.
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BMW will gradually resume production at its Munich and Dingolfing plants next week after suspending production over supply chain shortages.
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The Ukraine invasion has ramped up the price of metals used in vehicles and OEMs likely will pass these costs on to consumers.
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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.
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Commerce Secretary urges Congress to pass funding designed to boost domestic production of semiconductor chips.
Read More →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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