Chips, Costs, and COVID-19 hinder auto market recovery

From spglobal.com

From the start of the second half of the year, global automakers had to cope with the impact of a semiconductor shortage, fresh waves of coronavirus infections, as well as higher costs as steel prices surged, especially for hot-rolled coils. Several automakers continued to temporarily suspend production to cope with a parts shortage. Market participants were still concerned that rising gasoline prices resulting from high crude prices could affect driving activity. Amid the rising prices, the second-hand vehicle market could see some upside. Forward gear: Carmakers suspend production on parts shortage Reverse gear: ... (full story)