Car prices rise as commodities rocket on high demand
09 May 2021 - 16:34
Manchester/Munich— Cars are back in vogue courtesy of the pandemic. They’re also getting more expensive, thanks partly to surging commodity prices.
Many of the essential ingredients for carmakers — such as copper, steel and aluminium — are hitting or approaching record highs this year as the lagging supply cannot keep up with stimulus-driven demand. The Bloomberg commodity spot index jumped to its highest since 2011, with metals up 21% so far this year...
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