According to foreign media reports, on February 25, auto industry consulting firm J.D. Power and others said in a joint forecast that the situation in Russia and Ukraine poses a "significant risk" to the recovery of global light vehicle sales this year.

　　Combined with rising oil and aluminum prices that could also weigh on consumers buying new cars, the consultancies cut their forecast for global light-vehicle sales this year by 400,000 units to 85.8 million.

　　Jeff Schuster, president of Americas business and global auto forecasting at another market consulting firm, said that based on the severity and duration of the situation in Russia and Ukraine, global auto supply and prices will face greater pressure.

　　The situation in Russia and Ukraine affects the recovery of the auto industry, and the growth of global sales this year may be hindered

　　(Image source: Volkswagen)

　　On February 24, the situation in Russia and Ukraine caused oil prices to soar above $100 a barrel, the first time oil prices have exceeded $100 since 2014. The price of Brent crude oil (Brent) even touched $105.

　　Aluminium prices rose to record highs in London, while nickel prices surged to their highest level in more than a decade as the situation in Russia and Ukraine escalated, exacerbating the risk of severe supply chain shortages already facing the auto industry.

　　The auto industry is still grappling with a global chip shortage that is forcing it to cut production, although high vehicle prices have offset the impact to some extent. In February, U.S. retail new vehicle sales are expected to drop 5.7% to 922,100 vehicles, but the average transaction price will reach $44,460, up 18.5% from a year earlier and a new high for the same period.

　　Thomas King, president of J.D. Power's data and analytics division, said, "Continued supply chain disruptions, combined with the recent announcement of production shutdowns by several manufacturers, suggest that the low overall vehicle inventory in March is unlikely to change."

　　However, the report shows that in 2022, global light vehicle sales are expected to grow by 5%.

　　This article is reproduced from Gasgoo