On Tuesday, EY released a report highlighting that, influenced by policy changes, trade conflicts, and rising apprehensions regarding electric vehicle infrastructure and expenses, car buyers worldwide are showing a renewed preference for vehicles powered by internal combustion engines. In an effort to alleviate the strain on gasoline vehicle sales, U.S. President Trump put forward a proposal last week to substantially lower the fuel economy standards established by the preceding administration. Concurrently, the EU is poised to announce a diluted version of its strategy to phase out internal combustion engine vehicles by 2035.
