Mark Gilbert, CEO of ATN, Shares Insights on the U.S. Electric Vehicle Market

SCOTTSDALE, ARIZONA, US, September 2, 2024 /EINPresswire.com/ -- Mark Gilbert, CEO of Automotive Training Network (ATN), has shared his insights on the recent projections for the U.S. electric vehicle (EV) market, which is expected to reach a revenue of $94.9 billion in 2024, as per a Statista report. This significant growth highlights the slow, increasing demand for environmentally friendly transportation options, mostly driven by government incentives and gradual consumer awareness.

Growth Potential and Industry Impact
Gilbert points out that the annual growth rate of 10.49% forecasted for 2024-2029 indicates a measured shift in consumer preferences, with a large gap remaining between EV’s and conventional gas powered vehicles. "The EV market is slowly transforming the automotive industry. This steady growth is driven by advancements in technology, an expanding network of charging stations, and strongly driven by current government policies," said Gilbert.

He also noted the expected unit sales of 2.32 million vehicles in 2029 as a clear indication that electric vehicles are becoming a solid alternative for American consumers. "With an average vehicle price of $67.3K, the market is positioned to cater to both premium and mass-market segments, making EVs more accessible than ever," he added.

Challenges and Opportunities
Despite the optimistic outlook, Gilbert acknowledged the challenges that lie ahead. "While the growth is promising, the industry must address critical issues such as charging infrastructure, battery technology, and supply chain resilience to sustain this momentum," he emphasized. “The reality that over 150 million vehicles are currently on American roads, puts the task of EV’s being a significant part of those units in operation, still a daunting task.” Arguments remain about power grid capacity, long distances between charging stations and the less convenient range of these newer products. “While some states may want to eliminate non EV’s in the next decade, that will not likely be practical or even possible within that time frame,” Gilbert emphasized.

Gilbert explained, “Our best environmental solution within our immediate grasp and also palatable to the typical consumer and their routines, would be some of the great hybrid options readily available from most manufacturers today.”

Gilbert also highlighted the importance of training and education in the automotive sector. "As the EV market grows, so does the need for skilled professionals who understand the complexities of these advanced vehicles. ATN is committed to providing the necessary training to ensure that the industry is prepared for this electric revolution," he said.

Mark Gilbert’s Insights

Mark Gilbert’s insights underscore the significant opportunities within the U.S. electric vehicle market and the challenges that need to be addressed to maintain this growth trajectory. With ATN at the forefront of automotive training, the industry is well-positioned to meet the demands of this rapidly evolving market.

Mark Gilbert
ATN
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