A recent study by EY reveals a significant decline in U.S. consumer interest for electric vehicles, dropping from 22% to 11% due to economic factors.
The survey showed that buying intent for EVs, hybrids, and PHEVs has declined from 48% to 34%, indicating a notable shift in car-buying preferences.
Major car manufacturers like Ford and GM are scaling back their EV investments and adjusting their electrification strategies in response to changing consumer demand.
Despite declining interest in EVs, some brands continue to see strong sales; the overall narrative suggests a more complex reality beyond the numbers.
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