WASHINGTON – The Biden administration’s supply chain team remains in touch with auto industry executives about issues driving up prices, White House press secretary Jen Psaki said on Tuesday.
Short-term disruptions in shipments of automotive semiconductors is now becoming a long-term problem and is driving average prices of new and used vehicles to luxury-car levels, fueling inflation fears and causing concern in the White House.
The moves are part of Biden’s plan to fight climate change by persuading people to swap their gas-powered vehicles for those that run on electricity.