Know The Difference Minute

The Biden administration’s goal is 50% adoption by 2030. Now, the median expectation from the industry is only 35%, down from 65% last year.

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Doubts in Detroit.
Welcome to the Know the Difference Minute for Tuesday, December 20th.
After years of coverage predicting an electric car future, a new survey of 900 auto executives is casting doubt.
Who might be the leader by 2030 according to the survey? Still Tesla but with a narrow margin with Audi and BMW not far behind. Apple was a surprise #4 considering their plans are only rumors.
The Biden administration’s goal is 50% adoption by 2030. Now, the median expectation from the industry is only 35%, down from 65% last year.
Price matters. A median sticker price of $66,000 doesn’t help. But more challenges come from stricter requirements for federal incentives. The rest include supply chain issues, economic slowdown, and difficulty sourcing raw materials for batteries.
Automakers can travel down parallel paths. Gasoline powered cars will have to be part of the plan for the foreseeable future.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.