Chip shortages, supply chain disruptions and depleted inventory levels are just three of the headwinds auto stock investors have been dealing with in recent quarters. On Tuesday, Bank of America analyst John Murphy said auto investors can now add skyrocketing gas prices to the mix of problems for the auto industry.
Murphy said the near-term impact of rising gas prices should be minimal for auto stocks, but it may begin to weigh on long-term demand at some point. U.S. gasoline prices are up more than 100% year-over-year to $4.176 per gallon, and Murphy highlighted three ways soaring gas prices are impacting the auto industry.
