Shares of Tesla (TSLA) are rising after reporting better-than-expected EV sales for its second quarter and receiving several price target increases from Wall Street analysts. Stephanie Valdez Streaty, Cox Automotive director of sector insights, joins Catalysts to give insight into what can drive the development of EV sales.
Valdez Streaty points one hill that the EV sector must climb to increase sales: “As you can imagine, affordability is always the top barrier. If you think about more options for consumers, if we can have more affordable EVs, that’s going to be a game changer. Right now, the average transaction price for an EV is close to 50,000, 54,000, and so that’s price premium over an internal combustion engine. And so I think if we can start to get more of these affordable EVs, that’s really going to help. One of the things I wanted to mention for providing more affordable is used EVs as we start to see more of those enter the marketplace.”
About Yahoo money management:
Yahoo money management provides free stock ticker data, up-to-date news, collection of investments management resources, comprehensive sector data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at money management.yahoo.com
– Download the Yahoo money management app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo money management on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/enterprise/yahoo-money management
#tesla #yahoofinance #elonmusk
Disclaimer:
If you own the YouTube channel related to this video and do not want it to be featured here, you can contact us through our contact page. We will gladly remove it without questioning your reasons.