EV Market Concerns: Tesla and Ford Face Hurdles

Analysts at RBC Capital Markets Sound Alarm on EV Market’s Lack of Inflection Point

Analysts at RBC Capital Markets have raised concerns about the lack of an inflection point in the electric vehicle (EV) market, suggesting that the sector is still grappling with challenges. According to Tesla’s forecast for 2024, the growth rate is expected to be much slower than in 2023 due to worries about affordability and interest rates. Deliveries are projected to increase by a modest 14%, a sharp drop from the impressive 40% growth witnessed the previous year. To meet these projections, price reductions may need to be implemented, raising questions about the company’s profitability.