It could be a make or break year for smaller ev makers, reports Reuters UK.
Tesla’s 20% price cut worldwide last week has led to surge in demand from its German factory supplying Europe but at the same time put pressure on main rivals to reduce prices while some ev startups may be unable to match them and risk losing investments and sales, or worst still, seeing them go out of business.
The Society of Motor Manufacturers and Traders’ Meet the Buyer event will return to Automechanika Birmingham 2023 in June, as part of an all-new Automotive Supply Chain Forum from Messe Frankfurt.
Meet the Buyer brings together automotive purchasers with suppliers who can meet their specific requirements for automotive supply chains increasingly squeezed by global disruption and the industry undergoing a rapid transition to zero emission motoring, the event will provide a crucial opportunity for vehicle manufacturers and suppliers to develop new partnerships.
December was a positive month for auction centres and January has been even stronger for both prices and conversion rates, said Paul Hill National Association of Motor Auctions spokesman.
As a whole, members are optimistic and expect the market to remain stable, he said as key industry figureheads met to discuss current market conditions and provide views on future wholesale trading.