Russia-Ukraine tension to delay return to normalcy in global auto industry: WSA

The recovery of the global auto industry in CY’21 was disappointing as supply chain bottlenecks reversed the strong momentum seen in H1CY’21. The global auto production posted a marginal growth and supply chain issues led to hike in prices. The supply constraints were expected to dissipate in H2CY’22. However, the war between Russia and Ukraine is likely to delay any return to normal of the supply chain, especially in Europe.