In the audio from the January 11 recording of IndustryWeek's Production Pulse livestream show, editors talked to automotive and economic experts about how well electric vehicles performed in 2023 and what the market looks like for 2024.
While growth of battery-powered vehicles closed in the final quarter of the year, EVs still posted strong gains, hitting 8% of the U.S. market, up from about 5% in 2022. And, even though some companies are slowing investments in the space, growth should be strong in 2024 as consumers can take tax credits off the vehicle at the time of sale (instead of waiting to file their next year's taxes) and as automakers push more, lower-priced vehicles into service.
Joining IndustryWeek editors Laura Putre and Robert Schoenberger were 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 video, 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 inudstry including 15 years at Nissan.
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