VOYAH's Lu Fang: Automobile prices likely to rise amid broad raw material cost increases (opens in new tab)

Gasgoo Munich- VOYAH Chairman Lu Fang offered his take on auto pricing trends at the World Economic Forum's Annual Meeting of the New Champions on June 24. With the cost of steel, aluminum, batteries, and petrochemicals climbing across the board, maintaining current price levels is already a struggle — making further price cuts illogical for the industry.Image source: VOYAHVehicles are long-life products, Lu Fang argued, meaning their price tag must cover not just the purchase but the value o...