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Dealers are still playing catch-up after the chip shortage and suppliers are building parts for new cars rather than those on the road.
Manufacturing has been weak for a while. But companies are optimistic about government investment and a future uptick in demand.
Manufacturing slowed in July, but consumer demand and a strong service sector are shoring up the U.S. economy.
As supply chains normalize and labor demand slackens, prices and wages are cooling off.
Biden Administration policies are geared toward fixing high-tech supply chains and accelerating the transition to EVs.
It’s just over 10% of the U.S. economy but it has an outsized influence.
The government is lending $9.2 billion to Ford and a Korean partner to build electric vehicle battery factories in Kentucky and Tennessee.
The manufacturing sector is shrinking, according to a report. But that doesn’t account for people’s spending or the tight labor market.
The automaker’s CEO says it won’t invest in hybrids, but instead focus on batteries, a new vehicle platform and charging infrastructure.
Higher borrowing costs are one factor holding back the manufacturing sector.
