US electric vehicle market with high automaker concentration
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Since the outbreak of Covid 19 in the first quarter of 2020, the global auto market has continued to face the impact of supply chain constraints, and the Russian invasion of Ukraine and inflation have exacerbated supply chain risks this year. The United States, the world's second-largest auto market after China, has undoubtedly been affected, with its passenger vehicle market showing negative growth year-over-year in all but five months from March to July 2021. In contrast, the annual growth rate of the US electric vehicle (EV) market outperformed the overall auto market by a wide margin, as shown in figure 1.
US electric vehicle market with high automaker concentration
US electric vehicle market with high…
US electric vehicle market with high automaker concentration
Since the outbreak of Covid 19 in the first quarter of 2020, the global auto market has continued to face the impact of supply chain constraints, and the Russian invasion of Ukraine and inflation have exacerbated supply chain risks this year. The United States, the world's second-largest auto market after China, has undoubtedly been affected, with its passenger vehicle market showing negative growth year-over-year in all but five months from March to July 2021. In contrast, the annual growth rate of the US electric vehicle (EV) market outperformed the overall auto market by a wide margin, as shown in figure 1.