Jan 16 2024
How EVs Fared in 2023 and What to Expect in 2024 [Production Pulse]
Electric vehicle sales were flat in the fourth quarter of 2023, compared to the third quarter, but automotive experts are still calling last year the Year of the EV because of the market's rapid growth. EVs accounted for 8% of vehicles sold last year, more than 1.2 million units.
Still, the industry mood has been less optimistic lately as slowing growth rates have led GM, Ford and others to slow investments in new plants and lower some of the lofty sales targets they'd initially offered for 2024 and beyond.
In our bi-weekly manufacturing livestream, Production Pulse, we discuss those issues with two automotive experts.
Kristin Dziczek is a policy advisor at the Federal Reserve Bank of Chicago and a long time analyst of all things automotive. As she notes in the podcast, the opinions offered are her own, not an official report of the Federal Reserve.Stephanie Valdez Streaty is director of Industry Insights for Cox Automotive, a retail automotive giant with brands such as Kbb.com and Manheim Auto Auctions. Before joining Cox to spearhead EV research, Valdez Streaty spent decades in the auto industry including 15 years at Nissan.