Automotive industry suppliers are raising prices to their customers across the board, not just with Ford Motor Co, which warned this week it was taking a $1 billion inflationary cost hit, Reuters reported. Several suppliers said Ford isn't suffering alone, as automakers across the board are being asked to shoulder more of the burden suppliers have faced from spiking energy, labor and raw material costs. Suppliers contacted by Reuters said they have raised prices on parts in the range of 7% to 20%. "During the course of this year, more and more suppliers have gone in to their customers," demanding higher pricing from automakers, said Andreas Weller, chief executive of aluminum parts maker Aludyne. Weller said in Europe alone, natural gas and electricity prices are almost 10 times what they were two years ago thanks to Russia's invasion of Ukraine, and even in the United States those prices are five times higher. Throw in the tight labor market and the higher compensation required to attract workers, and "there's no improvement in sight."
