2023 Charts, page-2001

What makes me think they won’t? There’s heaps of reasons, here’s a few:

1. EV sales growth is now declining in the UK, France and Germany, all of which are key markets in Western Europe.

2. EV‘s are piling up at dealers in the USA, with over 500% more inventory than a year ago. Supply has skyrocketed to 97 days of inventory, versus 52 days of inventory for ICE vehicles.

3. Tesla have dramatically slashed prices of their vehicles in the USA to maintain sales.

4. Ford have reduced production of key EV’s (like the F-150 Lighting) due to waning demand. They’re now prioritising hybrid production.

5. Ford recently postponed $12b worth of EV production.

6. GM abandoned their goal to build 400,000 EV’s by 2024.

7. VW just abandoned plans for a $2b Ev Factory in Germany.

8. LG Energy Solutions forecast that EV demand could be lower in 2024.

9. GM and Honda scrapped their $5b joint EV production plans.

10. Persistent high interest rates reducing overall demand for new cars sales (globally).

11. Early-adopter market share reaching saturation point.

12. The Chinese economy is on the precipice with consumers likely to tighten their belts over the next 12 months.