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Automakers have shifted to selling vehicles with better profit margins in the U.S. as supply chain shortages and shipping concerns dampen production.
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Proceeds from sale of stunning BMW 330i will go to NIADA Foundation for charity and scholarships.
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With an improved chip supply, carmakers are at work whittling down order backlogs.
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The shortage of traditional wire harnesses could accelerate automaker plans to move to lighter, machine-made harnesses used in EVs.
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Port congestion in China, closures in Ukraine, and ongoing supply chain issues will not slow output, reported Milan Nedeljkovic, production chief for BMW AG.
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Penske Automotive Group first quarter net income sored from $183.1 million year over year to $369.5 million.
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The luxury automaker credits strong factory-dealer communications as the reason dealers could sell into the pipeline.
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Tesla Inc. has had to shut down its plant in Shanghai for a total of 12 production days in recent weeks because of China’s COVID-19 lockdowns.
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Supply chain challenges rising from the war in Ukraine could make electric vehicles (EV) more expensive to build as raw material prices shoot up.
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The Ukraine War will lower global light-duty vehicle production through next year by millions of units, predicts the automotive research firm.
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