US new vehicle sales rise 12% as buyers shake off high prices, interest rates, and auto strikes
11 months, 3 weeks ago

US new vehicle sales rise 12% as buyers shake off high prices, interest rates, and auto strikes

Associated Press  

DETROIT — Undeterred by high prices, rising interest rates, autoworker strikes and a computer-chip shortage that slowed assembly lines, American consumers still bought 15.6 million new vehicles last year, 12% more than in 2022, the biggest increase in more than a decade. New vehicle loans averaged around 7% for most of the year, and those could drop even if the Federal Reserve doesn’t start to cut rates, Smoke said. For example, sales of the Chevrolet Trax small SUV, which starts at $21,495 including shipping, grew to more than 109,000 last year, four times the 2022 number. Gas-electric hybrid sales grew 54% to 1.2 million last year, with market share leaping from 5.6% in 2022 to 7.7%.

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History of this topic

Electric vehicles made up a QUARTER of new car sales in November but still fall short of Government targets despite £4bn worth of discounting
Trending News
2 weeks, 5 days ago

Electric vehicles made up a QUARTER of new car sales in November but still fall short of Government targets despite £4bn worth of discounting

Daily Mail  

Electric vehicles accounted for more than a quarter of all new cars bought in the UK last month but demand is being propped up by 'unsustainable' manufacturer discounts, the trade body has warned. New car sales in the UK declined by 1.9 per cent in November, with 153,610 motors joining the road, latest figures from the Society of Manufacturers and …

Sales of used electric cars reach record high
Trending News
1 month, 2 weeks ago

Sales of used electric cars reach record high

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Giving consumers the confidence to switch from their familiar petrol or diesel vehicles requires confidence and incentives …

‘Middle-aged’ electric cars ‘flying off forecourts’
Trending News
1 month, 2 weeks ago

‘Middle-aged’ electric cars ‘flying off forecourts’

The Telegraph  

Second-hand car sales are climbing as cash-strapped consumers shun the new vehicle market. However, EVs still made up only 2.7pc of the market, with more traditional petrol and diesel cars still accounting for 91.7pc combined. The top five used cars sold were the Ford Fiesta, the Vauxhall Corsa, the Volkswagen Golf, the Ford Focus and the Mini. The continued rise …

Ford to shift EV strategy to hybrid vehicles
4 months ago

Ford to shift EV strategy to hybrid vehicles

China Daily  

When it comes to selling electric vehicles, US automakers face not only consumer reluctance but rising competition from China in the international market. Ford Chief Executive Officer Jim Farley said that China's EV companies have the advantage of a lower-cost supply chain and that Ford needs to find ways to lower its own costs to compete. In China, retail sales …

Ford to shift electric vehicle strategy by building new lower-cost pickups and a commercial van
4 months ago

Ford to shift electric vehicle strategy by building new lower-cost pickups and a commercial van

Associated Press  

DETROIT — Facing competition from automakers with lower costs, Ford Motor Co. is shifting its electric vehicle strategy and now will focus on making two new electric pickup trucks and a new commercial van. The company also says it won’t build fully electric three-row SUVs due to high battery costs, but instead will focus on making those vehicles as gas-electric …

Ford to shift electric vehicle strategy with lower-cost pickups and a commercial van
4 months ago

Ford to shift electric vehicle strategy with lower-cost pickups and a commercial van

LA Times  

Ford, which has long been talking about making profitable EVs, lost $2.46 billion on them in the first half of the year. Facing competition from automakers with lower costs, Ford Motor Co. is shifting its electric vehicle strategy and now will focus on making two new electric pickup trucks and a new commercial van. The company also says it won’t …

Discounts fail to help drive EV sales in US
4 months, 1 week ago

Discounts fail to help drive EV sales in US

China Daily  

Vehicles from Chinese brands wait to be exported from a port in Suzhou, Jiangsu province. In 2023, EV sales grew nearly 50 percent, according to data from Motor Intelligence, a vehicle sales data provider in the US. Consumer interest in buying EVs and hybrids is vastly different in China, where sales sped past internal-combustion-engine cars for the first time last …

Electric car sales set to miss a key Government target as demand slows
4 months, 2 weeks ago

Electric car sales set to miss a key Government target as demand slows

Daily Mail  

Sales of new electric cars will miss a key target this year. More importantly, it also falls short on the former Conservative government’s target for 22 per cent of vehicles to produce zero emissions this year. The Society of Motor Manufacturers and Traders expect electric cars to make up 18.5% of all new registrations by the end of 2024 Mike …

US new-vehicle sales barely rose in the second quarter as buyers balked at still-high prices
5 months, 3 weeks ago

US new-vehicle sales barely rose in the second quarter as buyers balked at still-high prices

Associated Press  

DETROIT — U.S. new-vehicle sales rose only slightly in the second quarter, despite larger discounts and slightly lower prices. Overall, U.S. sales were up only 0.1% compared to a year ago, as still-high prices kept many potential buyers out of the market, according to preliminary tallies Tuesday by Motorintelligence.com. The U.S. industry, he said, is at an inflection point where …

Car Sales Up 3.6 Per Cent Led by SUVs in June
5 months, 3 weeks ago

Car Sales Up 3.6 Per Cent Led by SUVs in June

Deccan Chronicle  

Pune: Passenger vehicle wholesales, the barometer of the economy, grew 3.6 per cent to 3.40 lakh units in June, primarily driven by new launches and robust demand for SUVs amidst heatwave across the country last month. The new Hyundai Creta has been a key driver for domestic H1 sales with 91,348 units sold, a growth of 11 per cent over …

EV sales in India to go up by 40 per cent to 1.75 million units in FY 2024
6 months, 1 week ago

EV sales in India to go up by 40 per cent to 1.75 million units in FY 2024

India TV News  

India's Electric Vehicle sales have reportedly grown by 17,52,406 units in FY 2023-24, stating a growth of 40.31 per cent on a Year-on-Year basis. The electric car segment sales have reportedly shot up by 82 per cent on a YoY basis, which further registering sales of 99,085 units in FY 2024. Electric bus sales soared to 3,708 units in FY2024 …

Tesla reclaims lead in electric vehicle sales despite year-on-year dip
7 months, 1 week ago

Tesla reclaims lead in electric vehicle sales despite year-on-year dip

India TV News  

Tesla, led by Elon Musk reportedly regained the top position in BEV sales in the first quarter of 2024, despite a 9 per cent decline. A new report showed on Monday that Tesla will take the top spot in BEV sales with a 19 per cent market share in Q1. According to Counterpoint Research, among the top three OEMs, only …

Japanese automaker Honda reports booming profit on sales growth, weak yen
7 months, 2 weeks ago

Japanese automaker Honda reports booming profit on sales growth, weak yen

Associated Press  

TOKYO — Honda’s profit for the fiscal year through March jumped 70% as vehicle sales grew and a weak yen buoyed overseas earnings, the Japanese automaker reported Friday. Annual profit at Tokyo-based Honda Motor Co. totaled 1.1 trillion yen as sales surged nearly 21% to 20.4 billion yen. The maker of the Accord sedan and CR Electric Proto motorcycles was …

Japanese automaker Nissan reports 92% jump in profit as sales surge
7 months, 2 weeks ago

Japanese automaker Nissan reports 92% jump in profit as sales surge

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Nissan’s profit for the fiscal …

Japanese automaker Nissan reports 92% jump in profit as sales surge
7 months, 2 weeks ago

Japanese automaker Nissan reports 92% jump in profit as sales surge

Associated Press  

TOKYO — Nissan’s profit for the fiscal year through March jumped 92% to 426.6 billion yen as sales grew in all major global markets except China, the Japanese automaker said Thursday. Chief Executive Makoto Uchida said Nissan was aiming for further growth under a strategy called “The Arc,” kicking in from last month, focusing on electric vehicles to boost sales. …

2024 sees record start to year for electric vehicle sales
7 months, 2 weeks ago

2024 sees record start to year for electric vehicle sales

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sales of electric vehicles have got off to a record start this year, the latest …

Crisis or opportunity: traditional automakers in EV race
7 months, 3 weeks ago

Crisis or opportunity: traditional automakers in EV race

China Daily  

A BYD vehicle on display during an expo in Paris, France. Delving into the changing global auto industry landscape, the article analyzes the challenges facing established automakers like Toyota and the advantages of emerging players, and provides insights into the future development of the industry. Toyota, the reigning champion of gasoline vehicles, has actively downplayed EVs and even hindered the …

Crisis or opportunity: traditional automakers in EV race
7 months, 3 weeks ago

Crisis or opportunity: traditional automakers in EV race

China Daily  

A BYD vehicle on display during an expo in Paris, France. Delving into the changing global auto industry landscape, the article analyzes the challenges facing established automakers like Toyota and the advantages of emerging players, and provides insights into the future development of the industry. Toyota, the reigning champion of gasoline vehicles, has actively downplayed EVs and even hindered the …

Electric cars sold at record discounts as demand plunges
8 months ago

Electric cars sold at record discounts as demand plunges

The Telegraph  

It suggests dealers are being forced to slash prices to stimulate a significant number of sales, amid a slowdown in demand for electric vehicles globally. Under the so-called zero emissions vehicle mandate imposed by the Government, 22pc of vehicles sold by major car makers must be electric in 2024 – a proportion that will continue to rise until a complete …

Calls for policy to grow country's vehicle sales
8 months, 1 week ago

Calls for policy to grow country's vehicle sales

China Daily  

Members of the public visit an auto expo in Dongying, Shandong province, on April 11. China's top auto trade association is calling for favorable government policies to stimulate sales, saying domestic demand for new vehicles is one of the most important issues to be addressed this year. The CAAM's estimate earlier this year said that sales will grow by around …

Tesla reports drop in auto sales, while Toyota sees US surge
8 months, 3 weeks ago

Tesla reports drop in auto sales, while Toyota sees US surge

Hindustan Times  

Tesla reported sharply lower first-quarter auto sales on Tuesday amid an underwhelming demand outlook for electric vehicles, while legacy players including Toyota rode improved US inventories to higher sales. Elon Musk's auto giant reported 386,810 global deliveries over the period, down 8.5 percent, reflecting in part a weak sales market in China, where it faces heavy competition from local electric …

US first-quarter auto sales grew 5.1% despite high interest rates, but EV growth slows further
8 months, 3 weeks ago

US first-quarter auto sales grew 5.1% despite high interest rates, but EV growth slows further

Associated Press  

DETROIT — New vehicle sales in the U.S. rose 5.1% from January through March, as buyers stayed in the market despite high interest rates. Automakers, most of which reported U.S. sales numbers Tuesday, sold nearly 3.8 million vehicles in the first quarter versus a year ago, for an annual rate of 15.4 million in sales. Sales of electric vehicles grew …

Tesla sales tumble nearly 9%, most in 4 years, as competition heats up and demand for EVs slows
8 months, 3 weeks ago

Tesla sales tumble nearly 9%, most in 4 years, as competition heats up and demand for EVs slows

Associated Press  

DETROIT — Tesla sales fell sharply last quarter as competition increased worldwide, electric vehicle sales growth slowed, and price cuts failed to lure more buyers. But TD Cowen Analyst Jeffrey Osborne wrote in a note to investors that weaker March sales indicate that incentives, including discounts and a free trial of “Full Self Driving” software, “did not work as demand …

EVs accounted for 40% of new cars in some cities last year but just 3% in others - how does your city compare?
9 months, 2 weeks ago

EVs accounted for 40% of new cars in some cities last year but just 3% in others - how does your city compare?

Daily Mail  

Scroll down for our table showing how EV adoption varies across cities High costs and 'range anxiety' are putting off many Americans switching to EVs Electric vehicles made up 8.5 percent of new car registrations in the US last year Americans in some areas are buying more than 10 times as many electric vehicles as in others, new data has …

Are US EV sales a disaster or a booming segment? The answer may be both
9 months, 3 weeks ago

Are US EV sales a disaster or a booming segment? The answer may be both

BBC  

Are US EV sales a disaster or a booming segment? "This was, from a sales volume perspective, the best year ever – near 50% year over year growth, and if you look at that growth increase, that volume was more than the entire number of EVs sold just two or three years ago." McCabe says there's plenty of growth ahead …

Electric Vehicle Sales Growth Is Slowing Globally. Here’s Why
10 months, 3 weeks ago

Electric Vehicle Sales Growth Is Slowing Globally. Here’s Why

Bloomberg  

With road transportation accounting for about 15% of greenhouse gas emissions, transitioning to cleaner vehicles is a linchpin in national efforts to meet climate-change mitigation targets. Governments have encouraged a transition to electric vehicles with massive subsidies, and legacy carmakers are changing their offerings in a slow farewell to the combustion-engine era. According to BloombergNEF, sales of all-electric vehicles plus …

Australia struggles to ditch SUV habit even as EV sales hit a record
11 months, 2 weeks ago

Australia struggles to ditch SUV habit even as EV sales hit a record

The Hindu  

Electric vehicle sales in Australia hit an all-time high in 2023, according to the country’s automotive association, however, light vehicle sales remained dominated by emissions-intensive trucks and sports utility vehicles. Battery-electric vehicles were 7.2% of all vehicles sold last year, more than double the 3.1% recorded in 2022, according to data from the Federal Chamber of Automotive Industries on Thursday. …

Is 2024 a good time to buy a vehicle? Here’s the projection
11 months, 3 weeks ago

Is 2024 a good time to buy a vehicle? Here’s the projection

LA Times  

Consumers looking for new vehicles should have better luck in 2024, with inventory levels expected to be higher, putting downward pressure on prices, experts say. Jonathan Smoke, chief economist at Cox, said there’s “no question” 2024 will be a better time to buy. It’s the lost middle area that concerns me.” If those vehicles turn electric without increases in consumer …

Price cuts boost Tesla’s 4Q sales, beating estimates as electric vehicle growth rate slows
11 months, 3 weeks ago

Price cuts boost Tesla’s 4Q sales, beating estimates as electric vehicle growth rate slows

Associated Press  

DETROIT — Steep price cuts helped electric vehicle maker Tesla Inc. increase its fourth-quarter vehicle sales by almost 20% as EV sales growth slowed across the industry. Full-year sales numbers fell far short of CEO Elon Musk’s prediction of 50% sales growth in most years. Industry analysts expect the price cuts to trim Tesla’s profit margins when it reports earnings …

Automakers floor accelerator in bid for growth
11 months, 3 weeks ago

Automakers floor accelerator in bid for growth

China Daily  

A view of Chinese carmaker BYD's assembly line of new energy vehicles in Zhengzhou, Henan province. China, which has been the world's largest vehicle market since 2009, is expected to see sales hit a record 30 million units this year and rise to 31 million units in 2024, according to estimates by the country's leading automotive trade association. Great Wall …

Automakers floor accelerator in bid for growth
11 months, 3 weeks ago

Automakers floor accelerator in bid for growth

China Daily  

A view of Chinese carmaker BYD's assembly line of new energy vehicles in Zhengzhou, Henan province. China, which has been the world's largest vehicle market since 2009, is expected to see sales hit a record 30 million units this year and rise to 31 million units in 2024, according to estimates by the country's leading automotive trade association. Great Wall …

More US auto buyers are turning to hybrids as sales of electric vehicles slow
1 year ago

More US auto buyers are turning to hybrids as sales of electric vehicles slow

Associated Press  

DETROIT — America’s automakers have staked their futures on the notion that electric vehicles will dominate sales in the coming years, spurred by buyers determined to reduce carbon emissions and save on fuel. “I think the hybrid gives them what they’re most looking for.” A LOWER PRICE EV prices have being dropping, mainly a consequence of federal tax credits and …

Automakers, dealers and shoppers dawdle on EVs despite strong year in US sales growth
1 year ago

Automakers, dealers and shoppers dawdle on EVs despite strong year in US sales growth

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Automakers, dealers and shoppers dawdle on EVs despite strong year in US sales growth
1 year ago

Automakers, dealers and shoppers dawdle on EVs despite strong year in US sales growth

Associated Press  

Despite new electric vehicle market share and sales hitting a record in the U.S. this year, EV growth is starting to slow and fall short of the auto industry’s lofty ambitions to transition away from combustion engines. Although there is interest in EVs, Richard Bazzy, who owns three Ford dealerships in suburban Pittsburgh, said many customers tell his sales staff …

November auto sales see spurt in sales
1 year ago

November auto sales see spurt in sales

Deccan Chronicle  

Pune: Sales of passenger vehicles continued on an impressive run in November with major automakers posting a rise in sales except Tata Motors, which clocked a marginal drop in sales. Sales of passenger vehicles at Maruti Suzuki, India’s biggest carmaker grew 1.33 per cent at 1,34,158 units last month compared to 1,32,395 units in November 2022. “Seven out of top …

US electric vehicle sales to hit record this year, but still lag behind China and Germany
1 year, 1 month ago

US electric vehicle sales to hit record this year, but still lag behind China and Germany

Associated Press  

Electric vehicle sales are expected to hit a record 9% of all passenger vehicles in the U.S. this year, according to Atlas Public Policy. The Inflation Reduction Act, which increased tax credits for qualifying new and used EV purchases, also helped bring EV costs down for buyers, by $3,750 or $7,500, depending on certain requirements. Electric car battery costs are …

Chinese auto sales surged 10% year-on-year in October in fastest growth since May, exports up 50%
1 year, 1 month ago

Chinese auto sales surged 10% year-on-year in October in fastest growth since May, exports up 50%

Associated Press  

BEIJING — Sales of passenger cars rose 10.2% in October over a year earlier, an industry association said Wednesday, as makers ramped up promotions and customers opted for electric and hybrid vehicles. Sales of electric and hybrid vehicles climbed 37.5% from a year earlier, accounting for 767,000 of the 2.03 million vehicles sold in October, the China Passenger Car Association …

Automobile retail sales declined 8% in October
1 year, 1 month ago

Automobile retail sales declined 8% in October

Deccan Chronicle  

PUNE: Total retail sales of automobiles in India declined by 8 per cent year-on-year in the festive month of October due to Shraddh period which marked first half of last month, when people largely stay away from big-ticket purchases, data released by the Federation of Automobile Dealers Associations or FADA) showed on Monday. FADA said retail sales of two-wheelers dropped …

US automakers’ sales rose sharply over the summer, despite high prices and interest rates
1 year, 2 months ago

US automakers’ sales rose sharply over the summer, despite high prices and interest rates

Associated Press  

DETROIT — Automakers posted big increases in new vehicle sales during the summer, despite high prices, rising interest rates and even a limited strike against Detroit companies. Industry sales rose 16.3% from July through September as consumer demand stayed strong, even given an average new vehicle loan rate of 7.4% and an average vehicle price of more than $45,500. Power …

Electric vehicle sales across the country surge with over 45,000 sold in first half of 2023
1 year, 4 months ago

Electric vehicle sales across the country surge with over 45,000 sold in first half of 2023

ABC  

Electric vehicle sales have surged in Australia this year with more sold in the first half of 2023 than in all of 2022. Key points: Electric cars have made up 8.4 per cent of all new car sales for 2023 The report states 50 per cent of cars sold need to be electric in 2030, to ensure Australia meets its …

China’s auto sales rise 8.8% in first half of 2023, but growth is fading as economy cools
1 year, 5 months ago

China’s auto sales rise 8.8% in first half of 2023, but growth is fading as economy cools

Associated Press  

BEIJING — China’s auto sales rose 8.8% over a year earlier in the first half of 2023 as electric vehicle purchases surged, but growth is fading as an economic rebound following the end of anti-virus controls cools, an industry group reported Tuesday. China’s economic growth rebounded to 4.5% over a year earlier in the first three months of 2023 from …

Domestic Automobile Retail Sales Grows 10 Percent in June 2023: FADA
1 year, 5 months ago

Domestic Automobile Retail Sales Grows 10 Percent in June 2023: FADA

News 18  

Domestic automobile retail sales rose 10 percent in June driven by sales growth across various segments, including passenger vehicles and two-wheelers, automobile dealers body FADA said on Thursday. Passenger vehicle retail sales increased 5 percent to 2,95,299 units as against 2,81,811 units in June 2022. Tractor retail sales jumped 45 percent year-on-year to 98,660 units while there was a marginal …

Strong demand drives US new vehicle sales higher in the first half of the year
1 year, 5 months ago

Strong demand drives US new vehicle sales higher in the first half of the year

Associated Press  

Demand for new SUVs, trucks and cars in the U.S. picked up steam in the second quarter, but the stronger sales kept prices high for consumers. Electric vehicle sales continued to rise during the first half of the year to more than 557,000 vehicles, or 7.2% of all new vehicle sales. In all of last year, consumers bought just over …

Electric vehicles 14 per cent of global new car sales, but less than 4 per cent in Australia: IEA
1 year, 7 months ago

Electric vehicles 14 per cent of global new car sales, but less than 4 per cent in Australia: IEA

ABC  

Global electric vehicle sales increased more than 50 per cent from 2021 to 2022, making up a total of 14 per cent of all new cars sold in the world. Key points: The US, China and Europe accounted for 95 per cent of EV sales in 2022 Chinese car maker BYD overtook Tesla on sales Sales are growing in Australia, …

Electric vehicle market likely to cross 1 crore sales mark per annum by 2030: Economic Survey
1 year, 10 months ago

Electric vehicle market likely to cross 1 crore sales mark per annum by 2030: Economic Survey

The Hindu  

India's electric vehicles market is expected to grow to one crore units annual sales by 2030 and create 5 crore direct and indirect jobs, according to the Economic Survey 2022-23. The survey tabled in Parliament on January 31 said that in December 2022, India became the third-largest automobile market, surpassing Japan and Germany in terms of sales. The domestic electric …

EVs made up 10% of all new cars sold last year
1 year, 11 months ago

EVs made up 10% of all new cars sold last year

Live Mint  

BERLIN : Electric-vehicle sales crossed a global milestone last year, achieving around 10% market share for the first time, driven mainly by strong growth in China and Europe, according to fresh data and estimates. In Germany, the largest auto market in Europe, electric vehicles accounted for 25% of new vehicle production last year, according to VDA, the German automotive manufacturers …

China’s 2022 auto sales rise 9.5% but growth weakening
1 year, 11 months ago

China’s 2022 auto sales rise 9.5% but growth weakening

Associated Press  

BEIJING — China’s auto sales rose 9.5% last year as electric vehicle purchases nearly doubled, but demand in the global industry’s biggest market slumped in December, foreshadowing weaker growth this year, a trade group reported Thursday. In December, sales fell 6.7% from a year earlier to 2.3 million as consumer spending weakened under pressure from anti-virus restrictions that kept millions …

GM reclaims US auto sales crown from Toyota after 2.5% rise in 2022 sales
1 year, 11 months ago

GM reclaims US auto sales crown from Toyota after 2.5% rise in 2022 sales

Live Mint  

General Motors Co reclaimed the top spot in U.S. auto sales from rival Toyota Motor Corp in 2022 as it was able to better meet strong demand for cars and trucks despite industry-wide supply disruptions. Shares of GM rose 2.7% in afternoon trade on Wednesday to $34.75, after the company posted a 2.5% rise in 2022 sales to 2,274,088 vehicles, …

Supply chain woes caused US auto sales to fall 8% last year
1 year, 11 months ago

Supply chain woes caused US auto sales to fall 8% last year

Associated Press  

DETROIT — Shortages of computer chips and other parts continued to hobble the U.S. auto industry last year, contributing to vehicle sales dropping 8% from 2021 to their lowest level in more than a decade. But there’s good news for consumers in the gloomy numbers: Vehicle supplies on dealer lots are growing, albeit slowly, and automakers expect at least a …

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