Let's go back to the bullock-cart: Cars are costly!
Metal costs in the global car sector are growing, which is projected to result in a continuous rise in vehicle prices. The war between russia and ukraine has caused a catastrophe for automakers. The Russian invasion of ukraine has resulted in a significant increase in the price of metals used in automobiles.
Palladium is frequently employed in the manufacture of automobiles, from aluminium to catalytic converters, while nickel is commonly used in electric vehicle batteries. Palladium is the most costly metal, and russia is the greatest palladium producer.
Aside from increased metal prices, supply chain interruptions are also wreaking havoc on the car sector. The ukraine situation has had an impact on crude oil prices. Crude oil prices have climbed considerably, as have gasoline and diesel costs. Without it, the ukraine situation might result in a semiconductor chip scarcity.
Ukraine is a major producer of neon, the use of which is important for making microchips. The ongoing war in ukraine has severely affected the production and supply of neon.