[Mengkudulangsat]

Every single expense in your P&L is ultimately salaries.

If it's not salaries in your P&L, then it's salaries in your supplier's P&L, or salaries your supplier's supplier's P&L.

[AlotOfReading]

Once you get more than a couple layers down in the supply chain, it's the same workers being paid the same wages for both American and foreign OEMs. The "labor price" of the same grade steel isn't vastly different for BYD and GM.

[Fruitmaniac]

Raw materials costs are mostly based on scarcity, not salaries. If it weren't, steel would cost more that gold because it goes through more processing.

[adrianN]

Scarcity means that you require more work to mine the same amount of material.

[Epa095]

You forgot energy.