Part 2/9:
High interest rates and economic uncertainties are creating a challenging environment for car manufacturers, particularly those still heavily reliant on gas-powered vehicles. Ford experienced a staggering 13% drop in sales of traditional internal combustion engine (ICE) vehicles, underscoring the urgent need for many automakers to adapt to the evolving preferences of consumers. As the cost of electric vehicles (EVs) continues to decline, more buyers are gravitating toward EV options, putting additional pressure on companies that remain committed to combustion engines.