Parts Prices to Keep Rising
Aug. 25, 2021—Auto part prices will continue to rise, Fox Business reported.
At least that’s what Advance Auto Parts CFO Jeffrey Shepherd said Tuesday on the company’s second-quarter earnings call.
"There is more inflation coming," Shepherd said, adding that he sees parts inflation for the rest of the year in the 2-4 percent range, up from a previous outlook of 1-2 percent.
Supply-chain disruptions caused by the COVID-19 pandemic, a labor shortage, wage inflation and higher raw materials costs contributed to inflation already exceeding the company’s expectations, the report said.