Mar. 21, 2022—An analysis of global vehicle manufacturing estimates that 2.6 million fewer new vehicles will be produced over the coming year.
Marketplace reports that disruptions from the Russian invasion of Ukraine, COVID-19 lockdowns, and a recent earthquake in Japan are among multiple factors that are slowing vehicle production. Many new issues are compounding existing supply chain difficulties.
This news also comes amid spiking new and used vehicle prices.
