Average EV Price To Go Below Combustion Vehicles In U.S. Next Year: Study
Portfolio Pulse from Anan Ashraf
A study cited by the Wall Street Journal suggests that the average price of electric vehicles (EVs) in the U.S. will drop below that of combustion engine vehicles by next year. This trend is already observed in China, Europe, and India. Ford Motor Co has paused its $12 billion EV funding due to high costs and customer reluctance to pay a premium. Tesla's CEO Elon Musk has expressed concerns about high EV costs and the impact of interest rates on monthly payments, despite price reductions.
November 29, 2023 | 12:55 pm
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NEGATIVE IMPACT
Ford Motor Co has paused its $12 billion EV investment due to the high cost of EVs and customer reluctance to pay a premium, which may affect its EV market strategy and financial projections.
The pause in Ford's EV investment could signal a strategic shift or delay in their EV rollout, potentially impacting investor confidence and the company's future revenue from the EV segment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tesla's CEO Elon Musk has highlighted concerns about the affordability of EVs due to high costs and interest rates, which could influence Tesla's pricing strategy and demand for its vehicles.
Musk's comments on affordability and the impact of interest rates on monthly payments could indicate potential challenges in maintaining demand for Tesla's vehicles, which may affect short-term stock performance.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90