US new vehicle sales rose 2.7% last year as prices and interest rates dropped a little
5 days, 12 hours ago

US new vehicle sales rose 2.7% last year as prices and interest rates dropped a little

Associated Press  

DETROIT — New vehicle sales in the U.S. rose 2.7% last year as prices and interest rates eased a bit, making SUVs, cars and trucks a little more affordable. Despite high sales prices that averaged more than $47,000, automakers sold just over 16 million vehicles in the U.S. last year, Motorintelligence.com said Friday. Electric vehicle sales rose 8.8% for the year to just under 1.3 million, beating 2023’s record of 1.19 million. The average auto loan rate fell from last year’s peak of 7.3% in July to 6.6% in December, Drury said.

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History of this topic

Tesla's Annual Sales Dropped for the First Time—but the EV Industry Keeps Growing
4 days, 23 hours ago

Tesla's Annual Sales Dropped for the First Time—but the EV Industry Keeps Growing

Wired  

Just a few days into 2025, electric vehicles are already having a roller coaster ride of a year. Global EV sales numbers likely won’t be fully collated till next month, but analysts say that in the US, electric vehicles seem to be on track for a pretty reasonable 8 percent of all car sales in 2024. The way we’re seeing …

Tesla sees first drop in number of cars delivered in nine years sending stock tumbling
Trending News
6 days, 17 hours ago

Tesla sees first drop in number of cars delivered in nine years sending stock tumbling

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Tesla's global annual sales …

Tesla’s global vehicle deliveries fell in 2024 for the first time in years
Top News
6 days, 19 hours ago

Tesla’s global vehicle deliveries fell in 2024 for the first time in years

Live Mint  

Tesla’s global vehicle deliveries fell in 2024 for the first time in more than a decade, after a surge of promotional deals in the fourth quarter failed to stimulate sales enough to top the prior-year results. The result—a quarterly record—was up about 2% from a year earlier, but it fell short of the roughly 515,000 vehicles it needed to sell …

Tesla sales dropped 1.1% in 2024, its first annual decline in a dozen years
6 days, 20 hours ago

Tesla sales dropped 1.1% in 2024, its first annual decline in a dozen years

Associated Press  

DETROIT — Tesla posted its first annual sales drop in more than a dozen years Thursday, undercutting a stock that has soared since Donald Trump’s victory on optimism Elon Musk’s close relationship to the president-elect will help the company. “And the first part of this grand strategic vision has taken shape.” The fourth-quarter sales, while a record for Tesla, show …

Car Sales Growth Slows To 5% In 2024, Marking Slowest Expansion In 4 Years
Trending News
1 week ago

Car Sales Growth Slows To 5% In 2024, Marking Slowest Expansion In 4 Years

ABP News  

Car sales growth slowed to approximately 5 per cent in 2024, marking the slowest expansion rate in four years and highlighting the challenges faced by companies in urban markets. Early estimates indicate that the industry concluded 2024 with sales of around 43 lakh units, up from 41.1 lakh units in 2023, with SUVs accounting for 54 per cent of the …

Tesla posts its first-ever annual sales drop
1 week ago

Tesla posts its first-ever annual sales drop

CNN  

New York CNN — Tesla reported the first full-year drop in sales in its history as a public company Thursday, as increased competition and slowing demand for electric vehicles hit its results. Tesla’s full-year sales of 1.8 million vehicles nonetheless edged out BYD’s annual EV total by 24,000, to retain the title of world’s largest EV maker. Tesla at one …

Tesla’s annual sales fall for first time in company history
1 week ago

Tesla’s annual sales fall for first time in company history

LA Times  

Tesla sales declined for the first time in the company’s history last year, the company reported Thursday, reflecting what analysts said was a lack of new models in an increasingly competitive market for electric vehicles. Given the company’s commanding lead in electric vehicle market share, slow or no growth at Tesla adds another challenge to California Gov. Tesla, once a …

Tesla reports sales drop for 2024, first annual decline in at least 9 years
1 week ago

Tesla reports sales drop for 2024, first annual decline in at least 9 years

LA Times  

Tesla’s global annual sales fell for the first time in at least nine years in 2024. Tesla’s global annual sales fell for the first time in at least nine years, with a 2.3% increase in the final quarter not enough to overcome a sluggish start to 2024 despite offers of 0% financing, free charging and low-priced leases. Analysts polled by …

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
1 month 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 …

Electric car sales are slowing in the US and Europe as both fans and skeptics share concerns
1 month, 1 week ago

Electric car sales are slowing in the US and Europe as both fans and skeptics share concerns

Associated Press  

DETROIT — While sales of electric vehicles surge in China, adoption of more environmentally friendly vehicles is stumbling in the United States and Europe as carmakers and governments struggle to meet years-old promises about affordability and charging stations. “Sometimes we found that the charging stations don’t always work, they’re broken down, so that gives you a little bit of anxiety …

If you haven’t been car shopping in a while, brace yourself
1 month, 3 weeks ago

If you haven’t been car shopping in a while, brace yourself

CNN  

New York CNN — It’s called sticker shock. They’re raising the floor prices.” You want features, you got ‘em Today’s cars come with all manner of driver assist features, including automatic braking, adaptive cruise control and blind spot warning systems. The combination of higher interest rates and higher car prices, along with the biggest average loans ever taken out to …

Sales of used electric cars reach record high
Trending News
2 months 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
2 months 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 …

Sales of new cars slump as drivers shun electric and diesel vehicles
Trending News
2 months ago

Sales of new cars slump as drivers shun electric and diesel vehicles

Daily Mail  

Sales of new cars fell by 6 per cent last month. Industry body the Society of Motor Manufacturers and Traders said 144,288 new cars were registered in October. Industry body, the Society of Motor Manufacturers and Traders said 144,288 new cars were registered in October. SMMT chief executive Mike Hawes said: ‘Massive manufacturer investment in model choice and market support …

Lower-priced new cars are gaining popularity, and not just for cash-poor buyers
2 months, 2 weeks ago

Lower-priced new cars are gaining popularity, and not just for cash-poor buyers

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. With buyers confronting inflated prices and still-high loan rates, …

Ford to shift EV strategy to hybrid vehicles
4 months, 2 weeks 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, 2 weeks 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, 2 weeks 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, 3 weeks 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
5 months 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 …

Automakers hit ‘significant storm,’ as buyers reject lofty prices at time of huge capital outlays
5 months, 2 weeks ago

Automakers hit ‘significant storm,’ as buyers reject lofty prices at time of huge capital outlays

Associated Press  

DETROIT — Investors are punishing automakers’ stocks this week after second-quarter earnings reports exposed industrywide issues of slowing sales and high prices, just as the companies are having to spend huge sums to make new electric and gas vehicles. Tavares said the company’s prices are too high, causing potential buyers to leave showrooms without hearing about low-interest financing and other …

With US vehicle prices averaging near $50K, General Motors sees 2nd-quarter profits rise 15%
5 months, 2 weeks ago

With US vehicle prices averaging near $50K, General Motors sees 2nd-quarter profits rise 15%

Hindustan Times  

DETROIT — U.S. customers who bought a new General Motors vehicle last quarter paid an average of just under $49,900, a price that helped push the company's net income 15% above a year ago. With US vehicle prices averaging near $50K, General Motors sees 2nd-quarter profits rise 15% And GM Chief Financial Officer Paul Jacobson said he doesn’t see his …

US new-vehicle sales barely rose in the second quarter as buyers balked at still-high prices
6 months 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
6 months, 1 week 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 …

Japanese automaker Nissan reports 92% jump in profit as sales surge
8 months 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
8 months 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
8 months 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
8 months, 1 week 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
8 months, 1 week 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 …

Tesla’s first-quarter net income tumbles 55% as falling global sales and price cuts reduce profits
8 months, 2 weeks ago

Tesla’s first-quarter net income tumbles 55% as falling global sales and price cuts reduce profits

LA Times  

Tesla said it made $1.13 billion from January through March compared with $2.51 billion in the same period a year ago. Tesla’s first-quarter net income plummeted 55% as falling global sales and price cuts sliced into the electric vehicle maker’s revenue and profit margins. Tesla said in a letter to investors Tuesday that its vehicle sales growth “may be notably …

Electric cars sold at record discounts as demand plunges
8 months, 2 weeks 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, 3 weeks 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 …

Ford to delay production of new electric pickup and large SUV as US EV sales growth slows
9 months ago

Ford to delay production of new electric pickup and large SUV as US EV sales growth slows

The Hindu  

With U.S. electric vehicle sales starting to slow, Ford Motor Co. says it will delay rolling out new electric pickup trucks and a new large electric SUV as it adds gas-electric hybrids to its model lineup. The Dearborn, Michigan, company said Thursday that a much ballyhooed new electric pickup to be built at a new factory in Tennessee will be …

Ford to delay production of new electric pickup and large SUV as US EV sales growth slows
9 months ago

Ford to delay production of new electric pickup and large SUV as US EV sales growth slows

Associated Press  

DETROIT — With U.S. electric vehicle sales starting to slow, Ford Motor Co. says it will delay rolling out new electric pickup trucks and a new large electric SUV as it adds gas-electric hybrids to its model lineup. The Dearborn, Michigan, company said Thursday that a much ballyhooed new electric pickup to be built at a new factory in Tennessee …

Tesla reports drop in auto sales, while Toyota sees US surge
9 months 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
9 months 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
9 months 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?
10 months 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 …

Lower auto prices are giving Americans a break after years of inflation
10 months, 1 week ago

Lower auto prices are giving Americans a break after years of inflation

Associated Press  

DETROIT — Price increases for cars and trucks in the United States, which helped fuel inflation for nearly three years, are slowing and in some cases falling, helping cool overall inflation and giving frustrated Americans more hope of finding an affordable vehicle. In January, automaker discounts on new vehicles, including rebates and low-interest financing, averaged $1,469 per vehicle — five …

Are US EV sales a disaster or a booming segment? The answer may be both
10 months, 1 week 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 …

Lower auto prices are finally giving Americans a break after years of inflationary increases
10 months, 1 week ago

Lower auto prices are finally giving Americans a break after years of inflationary increases

LA Times  

Automobile prices, which had been fueling inflation in the U.S., are starting to drop, helping to slow overall consumer price increases and giving buyers hope of getting a deal. Even with prices edging down, Ivan Drury, director of insights at Edmunds, doesn’t foresee sales of new vehicles rising dramatically this year. Unlike with new vehicles, there’s still a limited supply …

Electric Vehicle Sales Growth Is Slowing Globally. Here’s Why
11 months, 1 week 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
1 year 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. …

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

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

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