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The Economic Times

Economy / The Economic Times

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Affordability concerns reshape global car buying as EV interest grows: McKinsey

Affordability concerns and evolving preferences are reshaping global automotive markets. Consumers are delaying purchases and considering smaller vehicles due to financial pressures. Electric vehicle adoption is growing, especially in China, with mainstream buyers emerging. Advanced technologies and digital experiences are becoming key purchase differentiators for consumers. Automakers must combine affordability with technology and flexible solutions for future success.

26 Jul 2026 9:36 am