Morning Brew Daily Automakers Are Out on EVs & Kim K Bets on Menswear
Oct 30, 2023
The auto industry is pulling back on electric vehicles as demand wanes, sparking shifts in partnerships and production strategies. Labor strikes are shaking up major automakers, influencing financial stability. Meanwhile, people are leaving California and New York, and baby boomers are enjoying their golden years. On the fashion front, Kim Kardashian is branching into menswear, shaking up the underwear market. Lastly, AI technology enables The Beatles' last song, highlighting its cultural impact on today's youth.
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EV Industry Slowdown
- EV industry hype is fading as automakers like GM and Honda abandon agreements and adjust targets.
- High prices, lagging mainstream consumer adoption, and maintenance costs contribute to this shift.
EV Adoption Plateau
- Early EV adopters have likely already made their purchases, slowing the growth rate.
- Mainstream consumers hesitate due to high prices and the limited charging infrastructure.
Toyota's Hybrid Success
- Toyota's focus on hybrid vehicles seems prescient as demand remains strong.
- Their hybrid inventory is significantly lower than their electric SUV inventory, indicating consumer preference.