White House says it remains in touch with auto executives about high car prices

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The Biden administration’s supply chain team remains in touch with auto industry executives about issues driving up prices, White House press secretary Jen Psaki said on Tuesday.

Short-term disruptions in shipments of automotive semiconductors is now becoming a long-term problem and is driving average prices of new and used vehicles to luxury-car levels, fueling inflation fears and causing concern in the White House.

Reporting by Jarrett Renshaw; editing by Jonathan Oatis