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America's Biggest Car Companies Are in Trouble
Plain English with Derek Thompson
Rapid Growth of American Demand for Electric Vehicles
American demand for electric vehicles is rapidly growing, with more Americans buying EVs each year. While there is noise about a slowdown in growth rate, it is crucial to note that the growth rate of EV sales in the US was 61% in 2022, dropping to 32% in 2023. However, internal combustion engine car sales peaked seven years ago, indicating the inevitable transition towards EVs.
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