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Carmakers tripped up by choppy present as they chase an EV future

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Carmakers tripped up by choppy present as they chase an EV future

Automakers such as Ford, Tesla, and Stellantis are facing profit pressures in their traditional car businesses. This comes in addition to the challenges of transitioning to electric vehicles. Factors contributing to the profit pressures include warranty expenses, bloated vehicle inventory, and troubles in overseas operations. Investors are concerned about the fading pricing power of carmakers and expect the average price paid by customers to decrease in the second half of the year. The need to focus on future transformations and promising bets, such as autonomous cars, is being highlighted by automotive CEOs. However, Wall Street's enthusiasm has waned due to slower-than-expected U.S. electric vehicle demand. Analysts warn that if pricing reverses too much, it could impact the profits automakers rely on for funding the transition to EVs.

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