The new car market will be hit with challenges and pressures at the end of 2024 that will be reminiscent of, and may even surpass, those felt during the 2008 economic crash and the pandemic in 2020, a new report claims.
The reason for this is the expected volatility created in the final quarter of the year by the ZEV mandate – the new law that demands a percentage (22% in 2024) of car makers' total sales are EVs – with manufacturers making strategic and tactical plays in order to hit the government's legislative target.
