While general auto sales remain relatively strong, EV demand has continued to wane as consumers are more and more weary of the logistics behind charging, repair costs and general long-term maintenance.
The pivot in type of vehicle in-demand will impact the outlook for auto manufacturers and their suppliers, from wire & cable to exterior coatings to interior seat and dashboard coverings and everything in between. Vehicle sale growth is good news for the industry, but waning EV demand is an interesting pivot in a still widely discussed and headline-grabbing industry.
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