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A glut of EV inventory led to a decrease in gross profit per vehicle for a public auto retailer in the first quarter. Competitors offered average discounts of about $6,000 below sticker prices for EVs. EV makers are shifting towards lower prices and hybrids due to weakening consumer demand. Toyota is expected to benefit from demand for hybrids as the hype around EVs diminishes, with the company set to report annual earnings.
Toyota to get an earnings lift from hybrids as EV hype cools https://t.co/zTMynMaBZz https://t.co/lsHWfjkNSB
⚠️ TOYOTA TO GET AN EARNINGS LIFT FROM HYBRIDS AS EV HYPE COOLS Full Story → https://t.co/ilW8z1U17D Toyota Motor is expected to get a big lift from demand for hybrids when it reports annual earnings on Wednesday, illustrating how the world's top-selling automaker is poised… https://t.co/xxlLWFXIt9
EV makers shift gears to lower prices, hybrids as consumer appetite slackens https://t.co/RYV87YD4Bt via @financialpost https://t.co/DJXX6pfCjs