Elon Musk’s response to wavering demand and recession risk is pretty clear: slash prices, keep increasing capacity and try to continue growing even if it means sacrificing profit margin in the short term.
US auto sales likely rose in December and will rebound in the new year as a recovery in vehicle production will more than offset the effects of inflation and rising interest rates.
The US Treasury Department signaled some imported cars will qualify for electric-vehicle tax credits in the Inflation Reduction Act, a move that could assuage Asian and European allies’ concerns about the sweeping climate legislation.
The electric vehicle revolution will be subsidized.
Ford Motor Co. says it has secured enough battery supply to build more than half a million electric vehicles annually by late next year, a quantum leap above the 27,140 battery-powered cars it sold in the US last year.