2024 Sees Surge in New Car Models

As 2024 comes to a close, the automotive landscape reflects diverse developments across various markets. In the U.S., the KBB editors highlighted their favorite vehicles, notably the Chevy Equinox EV, which offers outstanding features like hands-free driving tech, while the Indian automobile sector showcased exciting new models like the Mahindra Thar Roxx and Kia Syros, catering to varied consumer preferences. Meanwhile, the electric vehicle (EV) market is experiencing a downturn, with many startups struggling and established automakers like Ford and GM pivoting strategies away from full electrification. Despite increased sales volumes, the growth rate has not met expectations, leading to significant investment adjustments in the EV sector. The autonomous vehicle (AV) industry also faces challenges, as the reality of driverless technology proves more complex than anticipated, resulting in a wave of consolidation and reduced VC interest. Overall, 2024 has been a year of both innovation and recalibration within the automotive industry.