War, Covid curbs give auto, electronics companies double blow

While the situation has worsened an already crippled supply chain, it has also increased freight rates that now threaten to push up their costs. Freight rates are currently two to five times the pre-Covid levels, said auto industry insiders. With most countries lifting pandemic-related restrictions, the rates were expected to come down, but the war has changed the scenario. In the past 28 days alone, the cost of air freight has increased 8-10%.

from Auto-Industry-Economic Times https://ift.tt/q0YlDaw