Gradual EV adoption in 2024 favors Tesla, GM: Analyst
02/16/2024 04:56
Demand drivers in the electric vehicle market are slowing significantly, prompting Citi US Autos & Auto Parts Analyst Itay Michaeli to trim EV forecasts. Joining Yahoo Finance Live, Michaeli believes Tesla (TSLA) and General Motors (GM) still stand to gain share in 2024 despite "adoption challenges." Michaeli explains that American households average two cars, so the goal for automakers isn't wholly electrifying every vehicle yet. Rather, it's initially "converting households" to one EV and one gas-powered car. Even with "revised plans by the EV makers" amid pullback, Michaeli states electric vehicles stand to have "a pretty good year." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith
Demand drivers in the electric vehicle market are slowing significantly, prompting Citi US Autos & Auto Parts Analyst Itay Michaeli to trim EV forecasts. Joining Yahoo Finance Live, Michaeli believes Tesla (TSLA) and General Motors (GM) still stand to gain share in 2024 despite "adoption challenges."
Michaeli explains that American households average two cars, so the goal for automakers isn't wholly electrifying every vehicle yet. Rather, it's initially "converting households" to one EV and one gas-powered car.
Even with "revised plans by the EV makers" amid pullback, Michaeli states electric vehicles stand to have "a pretty good year."
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Angel Smith