The automobile market is expanding due to a shift toward EVs, government incentives, and technological advancements. Yet, challenges like disrupted supply chains, rising material costs, and regulatory concerns persist. So, it seems prudent to wait for a better entry point in Ford Motor Company (F) while avoiding struggling Tesla, Inc. (TSLA) could be wise.
The auto industry 2024 outlook is marked by economic headwinds, charging infrastructure concerns, and regulatory uncertainties. But S&P Global Mobility forecasts 88.3 million global new light vehicle sales in 2024, up 2.8% year-over-year. Also, battery electric passenger vehicle sales are expected to reach 13.3 million units, representing 16.2% of world passenger vehicle sales.
