Part 1/8:

The Current State of the Automotive Industry: Struggles and Trends

As we dive into January 2024, it's essential to analyze the automotive industry's current landscape, highlighting significant sales figures, market trends, and key challenges facing prominent manufacturers.

Electric Vehicle Sales: A Mixed Bag

Recent reports on electric vehicle (EV) sales in the U.S. reveal a surprising decline, particularly for industry giants like Tesla, Volkswagen (VW), and Mercedes-Benz. While Tesla still dominates the EV market, it has experienced a notable year-over-year sales drop, reflecting a troubling trend that even affects other manufacturers. Data indicates that although EV sales overall rose by 7.3% from 2023 to 2024, this growth is a stark contrast to the previous year's 49% increase.