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.
