Something to watch is the price of oil.
The price has moved up by $10 in the last couple of days clearly due to middle east tensions. Rising oil prices creating more expensive fuel prices could assist people swaying between purchasing an EV or an ICE vehicle to go with an EV which might help create the demand surprise that is needed (or it might cause a fall in all vehicle sales as people get cautious. Its hard to say how it will play out).
Overall this surge isn't taking prices to historically high levels (yet). If Oil goes above 85-90 it will however be back nearer historical high's. It is interesting that the 2021 and 2022 period saw massive demand growth and they were associated with periods when oil was getting ever-more expensive and therefore the price if filling up an ICE was getting more and more expensive every week.
Some of the EV weakness (relative to forecasts) has come as Oil came back off those 2022 high prices.
Something to watch is the price of oil.The price has moved up by...
Add to My Watchlist
What is My Watchlist?
