They say profit margins from combustion vehicles will rise for a few years until a widespread consumer shift toward electric vehicles.
U.S. electric vehicle purchases climbed to 5.8% of all vehicles sold in 2022, up from 3.2% in 2021, according to Motor Intelligence.
The Detroit automaker sold 1.86 million vehicles in 2022, down from 1.91 million in 2021.
EFG Companies announced the launch of Motorist Assistance Plan, an exclusionary vehicle service contract designed specifically for buyers of electric vehicles.
The starting prices for the Model X SUV and Model S sedan went up nearly $5,000 overnight following the abrupt deletion of their ‘standard range’ variants from Tesla’s lineup.
IHS Markit analysts say electric vehicles will account for 7.6% of all new vehicles sold in the United States in 2026, predicting ‘explosive’ growth in a segment driven by rapidly proliferating makes and models.
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