Electric car sales are facing an unexpected stumble. The sector, which showed growth momentum just a few months ago, has entered a difficult period with the slowdown in sales in recent months. Brands such as Ford, Tesla and Mercedes-Benz began to change their strategies.
The brakes were put on electric car sales
The electric vehicle industry is going through a difficult period with global sales slowing down. Manufacturers such as Ford, Tesla and Mercedes-Benz have posted lower-than-expected sales and weaker profits in recent quarters. Ford closed the Michigan plant that produced the F-150 Lightning due to falling demand.
Tesla’s Model 3 and Y vehicles also showed low sales success compared to previous years. A similar slowdown is also experienced in the European market. Giants such as Volkswagen are preparing for production cuts in their factories in Germany. European brands face competition from Chinese companies that are expanding despite EU tariffs.
There are various reasons for this slowdown. Goldman Sachs analysts cited uncertainties regarding the US elections, high interest rates and increasing interest in second-hand vehicles as negative factors. Insufficient charging infrastructure and manufacturers’ inability to offer attractive offers also affect sales.
There is a similar situation in Turkey. According to reports showing automobile export and import data between January and September 2024, the light commercial vehicle market decreased by 8.4 percent compared to last year in the same period.
Experiencing such difficulties at a time when electric vehicles are expected to become widespread means that companies need to make more efforts. Of course, we will see over time whether the industry will be able to overcome this difficult phase.
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