Russia's invasion of Ukraine has left European carmakers like Volkswagen and BMW scrambling to find alternative sources of essential parts. The hunt for fresh supplies is the most recent [.]
The European Union’s new car registrations declined further in February, according to latest data from the European Automobile Manufacturers’ Association (ACEA), signaling the continuation of logistical issues in the automobile industry and non-availability of critical components.
The Russia-Ukraine war could shave off up to 15 percent of European car production in the first half of this year, predicts a Wells Fargo analyst, leading to a contraction in availability of new vehicles.
More carmakers are feeling the effects of Russia's deadly invasion of Ukraine, with German auto giants Volkswagen, Porsche, and BMW struggling to get wire harnesses from their suppliers in the region.