Cathie Wood, the founder and CEO of Ark Investment Management, said Monday that consumers are starting to rebel against rising auto prices and warned that manufacturers could be stuck with a glut of inventory.
“Auto manufacturers enjoyed pricing power during the COVID-related supply shock but may regret moves that, along with soaring oil prices, have accelerated the shift to electric vehicles,” she wrote in a tweet. “This inflation is transitory.”
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February 08, 2022 at 05:21AM
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Cathie Wood: Car Oversupply Possible as People Rebel Against High Auto Prices - Bloomberg
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