All articles tagged with #demand slowdown
The average price of new electric vehicles in the US dropped by 10.8% annually, with Tesla leading the decline. The price of the Tesla Model Y, a popular EV, fell by about 21% in the past year. This drop in prices comes as Tesla issued a $1,000 discount on Model Ys and warned investors of slower growth. Additionally, other EVs like Volkswagen's ID.4 saw an increase in incentives due to higher inventory and slowing sales.
The US services sector is showing signs of contraction as demand slows, with the S&P Global Flash US Services Business Activity Index reaching an eight-month low of 50.2 in September. The composite PMI also dropped to a seven-month low of 50.1, driven by declines in the services sector. Companies cited high interest rates, inflationary pressures, and increased operating expenses as factors weighing on client demand. However, the labor market remains resilient, with job creation at its fastest level since May and businesses finding it easier to fill job openings.