Top Automakers Voice Concerns Over Slowing EV Demand Amid Affordability Worries

Top executives of Ford, GM, and Mercedes addressed concerns over slowing EV demand amid price wars and losses.

Ford withdrew 2022 forecast, citing EV uncertainty, and said affordability is an issue for consumers.

GM withdrew 2023 profit outlook, will slow some EV models, and ended partnership with Honda.

Mercedes reported lower earnings as EV margins remained below assumptions.

Tesla CEO Elon Musk said high interest rates make EVs harder to afford for consumers.