Experts Milad Haghani and Hadi Ghaderi indicate a 'clear downward trend' in global EV sales due to high upfront costs, reduced incentives, and competition from cheaper Chinese vehicles.
Despite long-term growth expectations for EVs, recent quarterly sales data highlight significant slumps for major manufacturers like Tesla, BYD, and Volkswagen, suggesting potential market challenges ahead.
Volkswagen's response to slowing EV sales includes closing three factories and job cuts, reflecting broader concerns within the automotive industry about the pace of electric vehicle adoption.
The decline in EV sales, particularly in Europe and the U.S., is linked to decreasing incentives, indicating a crucial moment in the transition towards electric mobility.
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