Auto Executives Are Finding Out That The EV Market Isn’t What They Expected – Do They Have Themselves To Blame?

Automaker executives across the world are increasingly growing concerned about the rate of electric vehicle adoption than they were only a year ago due to ongoing supply chain issues and rising inflation. Per CNBC, the annual global auto survey of 915 executives from KPMG, an international consulting and accounting firm, has found that 76% of them are troubled by the economy and high interest rates and how both will affect their business in 2023. US-based auto executives are even more concerned with 84% reporting back.

The bottom line is that auto execs are becoming less bullish about the number of pure battery electric vehicles in and outside of the US by 2030. For example, last year’s survey of EV global sales estimates by 2030 ranged from 20% to 70%.

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