Chicago, Flat Rock, Mich., and Kansas City, Mo., through the first two weeks of May. The Kansas City factory makes the F-150 pickup, Ford’s most profitable model.

  • G.M. has kept its factory in Kansas City, Kan. — which makes the Chevy Malibu sedan — closed since February, and has cut production at other plants.

  • Daimler has temporarily halted production at two plants in Germany that produce lower-cost C-class vehicles.

  • Jaguar Land Rover, Britain’s biggest carmaker, will temporarily shut two of its factories there starting next week.

  • Renault scrapped production forecasts, and said it was prioritizing the manufacturing of its most profitable models.

  • The shortage is unlikely to end anytime soon, according to Intel’s C.E.O., Pat Gelsinger: “This will take a while until people can put more capacity in the ground,” he told The Wall Street Journal.

    Some of the academic research that caught our eye this week, summarized in one sentence:

    Percy Miller, better known to hip-hop fans as Master P, plans to invest $10 million in companies led by or serving people who are Black, Indigenous and people of color, DealBook is first to report. He sees ownership and equity as keys to bridging racial wealth gaps, and wants other investors to follow his lead.

    “This is all about economic empowerment,” Mr. Miller told DealBook. Early in his career, Mr. Miller opened a record store from which he launched No Limit Records, once one of the largest independent labels. More recent projects have been aimed at social entrepreneurship, like an “Uncle P” line of food products to replace Aunt Jemima and Uncle Ben’s (both have since been renamed) that would dedicate a portion of profits to supporting Black communities.

    Mr. Miller wants to invest in an array of industries, with education, including financial literacy, a priority. “I always tell people, product outweighs talent — at the same time, education and wisdom are so important,” he said. “That’s the longevity of my success.”

    • UBS will help connect him to potential prospects. “Our DNA is around entrepreneurship, and our DNA is around facilitating capitalism, and that’s exactly what we’re talking about here,” said Mark Wilkins, a private wealth manager at the bank. The two are treating the initiative as an investment, on which they’re planning to make a return.


    • Blackstone reported $1.75 billion in profit in its latest quarter, setting a record and swinging from a $1 billion loss a year ago. (WSJ)

    • L Brands may seek as much as $5 billion in a sale of Victoria’s Secret, far more than the failed deal with Sycamore Partners last year. (Bloomberg)

    Politics and policy

    • The U.S. Supreme Court unanimously limited the F.T.C.’s ability to seek financial relief for consumers wronged by deceptive business practices. (CNBC)

    • Union officials reportedly told Senate Democrats to back legislation strengthening protections for organizing efforts — or risk losing their political support. (Politico)


    • Norway has led the world in going cashless. Now its central bank is testing out a digital currency. (Insider)

    • Is Europe’s approach to tech regulation visionary, or misguided? (NYT On Tech)

    Best of the rest

    • Inside Elon Musk’s $150 million philanthropy blitz. (Recode)

    • The Hamptons property market is on fire: A summer rental went for $2 million, while a 42-acre estate sold for over $100 million. (CNBC)

    • Do you need to wear a mask outside? (NYT)

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    That Popular S.U.V. Is Going to Cost You

    “It’s been a weird year,” Mr. Drury said.

    That has driven up the average purchase price of a new vehicle to about $40,000.

    Inventories of luxury cars are the lowest as buyers have pounced, while run-of-the mill sedans are relatively plentiful, said Ms. Krebs at Cox.

    So if new cars are too expensive, you can just buy a used car, right?

    Yes, but deals may be elusive there as well. Fewer people bought new cars last year, so fewer used cars were traded in. And the short supply of new cars is pushing more buyers to consider used cars, raising those prices, analysts say. The average price paid for a used car is well above $20,000, Edmunds says.

    On the plus side, if you have a car to trade in, its value is probably higher, especially if it’s a popular model. The average value for trade-ins, including leased cars turned in early, was about $17,000 in March, up from about $14,000 a year earlier, according to Edmunds. The average age of trade-ins was five and a half years.

    Various online services, like Kelly Blue Book, TrueCar and Carvana, will supply a trade-in estimate based on your location and your car’s age, mileage and general condition, and offer more tailored appraisals if you provide details like the vehicle identification number. Some even offer to buy your car outright.

    If you trade in your car at a dealership, be sure to negotiate the price of your new purchase before you discuss the value of your trade, Consumer Reports advises.

    And when you buy a used car, it’s important to have it inspected by an independent mechanic, to spot any potential problems. If a dealer balks at letting you do that, it may be best to shop elsewhere, Mr. Barry said.

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