Renault CEO de Meo warns of rising vehicle prices on chip shortage, materials costs

MADRID – Renault CEO Luca de Meo said that the semiconductor shortage and rising cost for raw materials will push up car prices, the Spanish economic newspaper Expansion reported.

"Prices will rise even more in the coming 12 months," de Meo told the newspaper in an interview published Thursday, as chip makers are taking advantage of the leverage that scarcity is giving them.