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Economic Viewpoint

The U.S. Auto Industry’s Problems

June 3, 2021
Francis Généreux
Principal Economist

The COVID-19 pandemic hit the U.S. auto industry hard. Production remains hobbled by a number of factors, including a shortage of electronic parts. Meanwhile, demand for vehicles has rebounded thanks to government measures to support household income and easy financing terms. The imbalance led to some shortages and put pressure on prices. The situation should be temporary, but structural factors will continue to shape the auto industry in the coming years.

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