I think inflation eating the economic wiggle room for many is a bigger factor.
Unless of course ICE cars are doing better? But I think growth was not expected for ICE, but it was for EV.
Nearly all of the early adopters and people concerned about internal-combustion engines’ impact on the planet have bought electric vehicles, and now automakers are facing more skeptical mainstream buyers, Edmunds Director of Insights Ivan Drury said.
My understanding is that hybrids are seeing the most demand, while EVs are seeing a drop in demand.
I think inflation eating the economic wiggle room for many is a bigger factor.
Unless of course ICE cars are doing better? But I think growth was not expected for ICE, but it was for EV.
Sales in the car industry are growing, while EVs are contracting:
My understanding is that hybrids are seeing the most demand, while EVs are seeing a drop in demand.