Reports indicate the apparent EV sales downturn in the U.S. is momentary, as several automakers experienced year-over-year sales growth, with Tesla leading.
"We're still seeing growth in demand, just not at the same pace for every brand," noted Cox Automotive's Stephanie Valdez-Streaty, highlighting ongoing demand dynamics.
Tesla's Model Y dominated U.S. EV sales in Q1, indicating ongoing consumer interest in EVs despite concerns, with traditional automakers needing to ramp up volume production.
"Automakers need to start producing EVs at mass volume to compete or perform well, addressing the need to match Tesla's market share," emphasized BloombergNEF's Corey Cantor.
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