Confidence in electric vehicles among automakers in the United States and other countries has dipped as many are concerned that their large bets on EVs may take longer to pay off, according to a KPMG survey of 1,000 auto executives from 30 nations.
Expectations for profitable growth in the automotive industry over the next five years have weakened in Japan, Western Europe, and the United States, according to survey results published on Jan. 4. While executives saying that they were “extremely confident” about profitability dropped to 43 percent in 2023 from 48 percent in 2022 in the United States, the same metric fell by 7 percentage points in Western Europe and a massive 22 points in Japan. This change in sentiment is “remarkable,” professional services firm KPMG noted.
