Mr. Apostolos Petropoulos:

Following on what Mr. Nix mentioned, if one can simplify that, it is both a supply and demand issue. On the supply side, original equipment manufacturers, OEMs, are focusing on SUVs because they have a higher profit margin on them. We have seen, specifically, in Europe, that they go out from the market of producing smaller cars. It is not only for EVs but also we see a similar example happen also for ICE vehicles.

On the demand side, it is also for consumers a status symbol, and especially for emerging markets. The SUV trend is not only happening in Europe. It started much earlier in the US with much bigger SUVs. I have seen this happen in China, India and even in Africa. People tend to buy this type of vehicle - more premium luxury vehicles - due to the fact that they can afford them. I would say it is a combination of both patterns but, of course, OEMs have strategically shifted to this to avail of the higher profit margin.