The market for Electric cars is likely to collapse due to the Corona crisis. At least that’s what market researchers from the renowned company Wood Mackenzie expect. The virus has “brought the market to a standstill”. Supply chains around the world are massively restricted.
The outlook for Electric cars 2020 will be “bleak” as they write. The emerging one recession will also on sales of the Electric cars have a big impact. Many consumers would therefore refrain from investing their money in new technologies. Many consumers would also postpone their purchases due to the economic uncertainty. To make matters worse, many established automakers have prematurely announced models that are not yet widely available.
The market researchers therefore expect that the global sale of Electric cars will decrease from 2.2 million in 2019 to 1.3 million in 2020 – a decrease of 43 percent.
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