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Article

16 Apr 2022

Author:
Robert Ferris, CNBC

Russian invasion of Ukraine leads to disruptions of supply chains & spikes in prices in global auto industry

Automobile production

How Russia’s war is cutting global auto production, 16 April 2022

Russia’s invasion of Ukraine has led auto industry watchers to cut production and sales forecasts for the next two years. The crisis has shuttered factories in Eastern Europe, and caused spikes in the prices of already precious raw materials.

Some factories in Ukraine have tried to keep going amid the invasion. Workers have reportedly had to break from work to flee rocket fire...

The bigger concern is the shortages of materials and parts that are already hitting European automakers and, the report warned, could spread to other markets if the war continues...

The report highlighted disruptions to the supply of critical automotive parts from the region, perhaps most notably wire harnesses from Ukraine. At risk also are raw materials — Russia produces about 40% of the world’s raw palladium — which is used to clean vehicle exhaust. The region is also a producer of nickel, which is used in electric vehicle batteries. Even common minerals and metals, such as iron, are affected...

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