The auto industry, already in the midst of a multiyear restructuring, was upended by the pandemic and now, as pandemic-related disruptions start to fade, is facing yet a different set of challenges. For most of the last two years, the industry has dealt with historically low new-car inventories because of COVID-19 issues snarling and slowing supply chains. Those delays drove new and used-car prices to record-high levels. Now, production is climbing at the same time that interest rates are rising, the consumer is being economically squeezed and used-car pricing and sales are declining, all with potential negative impacts on auto company financing divisions. Additionally, global auto companies, which have pledged to shift to an EV future, are struggling with a way to do so profitably while also facing increased competition from Chinese automakers. Last, the auto industry is trying to reconcile its significant investments in autonomous cars and trucks with the real possibility that those investments won’t pay off for a long time, if ever.