Morgan Stanley's Adam Jonas downgraded Rivian, Ford, and GM due to slower electric vehicle sales and rising dealer inventories.

Morgan Stanley's Adam Jonas has downgraded Rivian, Ford, and GM, citing slower electric vehicle sales and rising dealer inventories. He revised his outlook on the U.S. auto industry from "attractive" to "in-line," urging caution for investors. Additionally, he noted the impact of sluggish growth in China's market. Despite this, some analysts are hopeful for a boost from potential interest rate cuts. The transition to electric vehicles is anticipated to be challenging in the near term.

September 29, 2024
3 Articles