Business Maverick: Cars Keep Getting Pricier and the Commodity Boom Makes It Worse

Many of the essential ingredients for automakers, such as copper, steel and aluminum, are hitting or approaching record highs this year as the lagging supply can’t keep up with stimulus-driven demand. The Bloomberg Commodity Spot Index jumped to its highest since 2011, with metals up 21% so far this year.

Carmakers usually struggle to pass on higher costs, but demand is booming as major economies reopen and many consumers continue avoiding public transportation. The global semiconductor shortage also is inhibiting production, keeping inventory tight and driving up vehicle prices.at auction rather than new ones.

They also may encourage automakers to explore alternative chemistries for their EV batteries. The majority of cells use some combination of lithium, cobalt and nickel, which have jumped a minimum of 47% each in the past 12 months.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: TikTok Begins Testing In-App Shopping to Challenge FacebookByteDance Ltd.’s TikTok is working with brands including streetwear label Hype to test in-app sales in Europe, a move that will intensify its competition with Facebook Inc. and further blur the line between social media and online shopping. Normally I don’t do this, I don’t praise people for any reason,truth be told good work deserve appraisal,I wound deny the fact that I’m super jealousy of your hard work and skill. I’m proud of you and what you do in the life of people we need more people like you Sharon_cryptofx
Source: dailymaverick - 🏆 3. / 84 Read more »