How EU & US Tariffs Are Impacting Lotus Sales Forecast for 2024
Introduction
In a significant move influenced by evolving global trade policies, Lotus has significantly revised its 2024 sales forecast. This strategic decision comes amid rising tariffs between the EU and the US and the accelerating shift towards electric vehicles (EVs). Let’s delve into the reasons behind this adjustment and its broader implications for vehicle owners.
Impact of Tariffs on the Automotive Industry
Understanding the latest EU and US tariffs’ impact on the automotive industry is crucial for vehicle owners and enthusiasts.
Key Points:
- Increased Costs: Tariffs typically result in increased costs for imported goods. In the automotive industry, this means higher prices for parts and vehicles.
- Shift in Supply Chains: Tariffs can incentivize companies to alter their supply chains, potentially leading to delays and increased costs.
- Competitive Disadvantage: Imposed tariffs can place certain manufacturers at a disadvantage compared to local competitors, impacting their market share and profitability.
The Shift Towards Electric Vehicles (EVs)
The surge in EV adoption is another critical factor affecting Lotus’ revised sales forecast for 2024. With increasing consumer preference and legislative
Credits:https://europe.autonews.com/automakers/lotus-slashes-2024-sales-forecast-eu-us-tariffs-evs-take-hold
