Analysts forecast production of about 14.7 million cars and trucks this year in North America, an increase of 12.5% vs. 2021.
S&P research shows the average vehicle age rose to 12.2 years in 2022, representing a 2% increase from 2021.
Supply chain challenges rising from the war in Ukraine could make electric vehicles (EV) more expensive to build as raw material prices shoot up.
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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