Camila Domonoske - NPR
Between the pandemic, an acute shortage of semiconductors and other supply chain snarls, vehicle production has never really returned to normal.
Exxon earned nearly $56 billion in profit last year, the biggest annual profit any Western oil company has ever seen. Chevron set its own record with $35 billion in profit.
Mechanics' bills are rising faster than inflation, and people are holding on to their vehicles for longer than ever. That means even those staying out of the car market are feeling inflation's pinch.
The move comes as the global business community increasingly is moving to isolate Moscow over the unprovoked invasion of Ukraine.