TECH - Former Ford CEO Says Price Drop Will 'Take Away...Big Inhibitors Holding Back The New EV Market' But Warns Of 'Real Issues' | Benzinga
Mark Fields, the former CEO of Ford Motor Company (NYSE:F), recently shared his insights on the implications of decreasing electric vehicle (EV) prices for both the new and used car markets.
What Happened: During CNBC’s “Last Call” on Monday, Fields highlighted the significance of falling EV prices. “As these prices come down, you take away one of the big inhibitors that are holding back the new EV market,” he said.
“This is all about how do consumers feel about what their vehicle is going to be worth going forward. There are real issues around that.”
Fields explained factors like increased competition, higher interest rates, and demand slowdowns will lead to a reduction in EV prices in the new vehicles market which, in turn, will lead to “an ...