Subaru profit jumped 25% in the latest quarter as the automaker recovered production, ramped up sales and cashed in on favorable exchanges rates.
The House is expected to also pass the bipartisan bill that earmarks billions of dollars to boost domestic semiconductor production.
Volvo Cars points to a potential slump in retail sales in 2022 after posting higher second-quarter profits.
GM and Ford top execs say U.S. consumer demand for cars and trucks remains strong, despite soaring interest rates and gas prices.
Experts suggest automakers focus their attention on the user experience and greater collaboration as they content with limited semiconductor chip supplies.
Auto manufacturing facilities in North America and Europe continue to lose production time over the lingering global microchip shortage, now well into its second year.
Hopefully, supply chain issues will resolve sooner rather than later, but until they do, dealers can take the time to prepare for some inevitable downstream repercussions.
The Ukraine invasion has ramped up the price of metals used in vehicles and OEMs likely will pass these costs on to consumers.
Aluminum jumped up to 4.8% to $3,449 a ton on the London Metal Exchange, while nickel rose to the highest level since 2011.
A coalition has asked the U.S. Treasury Department to grant relief to dealers employing the LIFO tax deferment strategy who face excessive tax bills this spring.
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