One of the most notable trends in the light duty vehicle market is the shift towards electrification. With growing concerns over air pollution and climate change, governments and manufacturers alike are making substantial investments in electric vehicles (EVs). The introduction of stringent emission regulations has prompted automakers to redesign their fleets to include more electric and hybrid models. In many countries, policies are being implemented that incentivize consumers to transition to EVs, including tax rebates, reduced registration fees, and access to carpool lanes. As a result, the market for light duty electric vehicles is expanding rapidly, with major manufacturers planning to release a wider range of electric models over the next few years.
