IDRV - Finding Signal In Noisy Auto Data
2024-04-11 07:46:00 ET
Summary
- Since late 2023, media headlines have seized on data showing that electric vehicle sales growth decelerated in 2022 and 2023, from +113% in 2021 to +59% and +28% on a year-over-year basis, respectively.
- Decelerating growth does not suggest that new products, including EVs, are losing mass market appeal.
- Each time an EV launches into a new segment with a lower price point, another adoption curve begins, ultimately each segment curve aggregates to the total adoption chart shown above.
By Sam Korus, Director of Research, Autonomous Technology & Robotics
Since late 2023, media headlines have seized on data showing that electric vehicle ((EV)) sales growth decelerated in 2022 and 2023, from +113% in 2021 to +59% and +28% on a year-over-year basis, respectively. Our research contextualizes this deceleration in growth and suggests that traditional automakers cutting back on EV investment are at risk of missing the transition altogether....
Finding Signal In Noisy Auto Data