Plug-in electric vehicles now make up over 6% of the new vehicle market and that proportion is growing quickly. How will this rapid change affect the new and used car markets, the automotive workforce, and traditional manufacturing centers in the Great Lakes region?

The 29th Annual Automotive Insights Symposium, Making the Shift: Electric Vehicles and their Impact on Sticker Prices and Automotive Jobs, took place on January 10–12, 2023, where we discussed this theme in greater detail. Through engaging panel discussions, keynote speeches, and tours, we explored the following topics:

• The 2023 outlook on U.S. and North American auto production, sales, and supply chains
• Pricing and vehicle affordability trends
• Implications of the Inflation Reduction Act’s consumer and producer incentives to boost the sales of electric vehicles
• Workforce impacts from the shift to greater electric vehicle production, including the roles of labor unions and economic development

Through events like this, the Federal Reserve Bank of Chicago serves the public, fostering economic opportunity and advancing a strong economy for our region and nation.

Review Key Materials

• Access the available transcripts and slides from this event inside the Agenda section.
• Replay: Watch Recorded Sessions