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Analysts believe Tesla's close ties to the incoming Trump administration could help the company, potentially expediting regulatory approval for its autonomous driving technology. There are also expectations that the EV tax credit may be eliminated under the new president, which would disproportionately benefit Tesla compared to its rivals.
An Uncertain Future
With profits plummeting, production cuts, and mass layoffs across the industry, the future of the automotive sector looks increasingly bleak. Affordability and interest rates will be key factors in determining whether the market can rebound.