Competitors chip away at Tesla’s US electric vehicle share
2 years ago

Competitors chip away at Tesla’s US electric vehicle share

Associated Press  

DETROIT — New electric vehicle models from multiple automakers are starting to chip away at Tesla’s dominance of the U.S. EV market, according to national vehicle registration data. But numbers collected by S&P Global Mobility show that Tesla still controlled about 65% of the growing electric vehicle market during the first nine months of this year. “Given that consumer choice and consumer interest in EVs is growing, Tesla’s ability to retain a dominant market share will be challenged going forward.” According to S&P, electric vehicles have picked up 2.4 percentage points of U.S. market share this year, growing to 5.2% of all light vehicle registrations. Tesla’s Model Y small SUV and Model 3 small sedan were the top 2 SUVs, accounting for more than half of all electric vehicle registrations, Brinley said.

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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, 4 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 …

The withering dream of a cheap American electric car
1 month, 1 week ago

The withering dream of a cheap American electric car

Live Mint  

The dream of a $25,000 electric vehicle for U.S. drivers is in trouble. Musk isn’t alone in taking a sour view of making a cheap EV for the U.S. “That market sucks,” Peter Rawlinson, chief executive of Lucid Motors, told me and my colleague Christopher Mims for our new podcast, called “Bold Names.” Lucid which has begun taking orders for …

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 …

New car market fell 6% last month
1 month, 2 weeks ago

New car market fell 6% last month

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. “EVs already work for many people and businesses, but …

Tesla's Q3 Results: A Strong Comeback for the EV Giant
Trending News
1 month, 4 weeks ago

Tesla's Q3 Results: A Strong Comeback for the EV Giant

ABP News  

Tesla's Q3 net income rises 17% on strong sales, marking a turnaround for the company. The strong performance is attributed to robust electric vehicle (EV) sales, with the company projecting a 20-30% increase in sales for 2025. Tesla's cost-saving efforts have also contributed to the improved financial performance, with the gross profit margin reaching its highest level in a year.

Tesla suffers first drop in UK sales since 2013
2 months, 1 week ago

Tesla suffers first drop in UK sales since 2013

The Telegraph  

Tesla’s UK revenues have fallen for the first time in more than a decade as Elon Musk’s electric car company grapples with a slowdown in demand. The drop in sales brings the company’s recent momentum to a halt in the UK, where it has enjoyed constant sales growth since 2013. Mr Musk’s business is also facing questions about its ageing …

EU demand for electric cars continues to fall as sales collapse in France and Germany
3 months ago

EU demand for electric cars continues to fall as sales collapse in France and Germany

Daily Mail  

Demand for electric cars across Europe is 'on a continual downward trajectory' after a 'spectacular' collapse in sales in Germany and France. In the latest sign that the brakes have been slammed on the electric vehicle revolution, figures showed just 92,627 battery-only powered cars were registered in the European Union last month. Running flat: In the latest sign the EV …

GM delays Indiana EV battery factory amid weak US market growth, seals joint venture deal with Samsung
3 months, 3 weeks ago

GM delays Indiana EV battery factory amid weak US market growth, seals joint venture deal with Samsung

Live Mint  

Production at an electric vehicle battery cell plant jointly run by General Motors and Samsung SDI has been delayed as EV sales have slowed in the U.S. The companies finalized their agreement Tuesday to jointly run the new factory in New Carlisle, Indiana, near South Bend, but said production would not start until 2027. The project is GM’s fourth joint …

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 …

Indians who prepaid $1,000 to order Tesla EVs ask for their money back as cars fail to arrive
4 months, 1 week ago

Indians who prepaid $1,000 to order Tesla EVs ask for their money back as cars fail to arrive

The Hindu  

In April 2016, Elon Musk invited Indians to preorder the upcoming Tesla Model 3. To woo automakers like Tesla while also protecting domestic carmakers like Mahindra and Maruti Suzuki, India reduced its import duties to 15% from 70%-100% in March 2024 for EVs cheaper than $35,000 — as long the automaker commits to building a factory in the country within …

Indians wanting their money back for undelivered Teslas shows how drastically the EV market changed
4 months, 1 week ago

Indians wanting their money back for undelivered Teslas shows how drastically the EV market changed

Associated Press  

HANOI, Vietnam — In April 2016, Elon Musk invited Indians to preorder the upcoming Tesla Model 3. To woo automakers like Tesla while also protecting domestic carmakers like Mahindra and Maruti Suzuki, India reduced its import duties to 15% from 70%-100% in March 2024 for EVs cheaper than $35,000 — as long the automaker commits to building a factory in …

New car sales continue to rise but likelihood of achieving electric vehicle targets looks bleak
4 months, 2 weeks ago

New car sales continue to rise but likelihood of achieving electric vehicle targets looks bleak

Daily Mail  

Last month saw a 2.5 per cent increase in the numbers of new cars delivered to customers compared to July 2023 - the 24th consecutive month of growth for the sector as it continues on a road to recovery following the pandemic. But while registrations are continually growing, the likelihood of car makers achieving electric vehicle sales targets looks bleaker …

BMW bets big on electric vehicles, to expand market
4 months, 4 weeks ago

BMW bets big on electric vehicles, to expand market

Deccan Chronicle  

New Delhi: BMW, India’s second biggest German luxury car maker, is expanding its electric luxury portfolio as it bets big on its growth potential in the competitive electric vehicle market in the country. On Wednesday it introduced two electric products such as Mini Countryman EV priced at Rs 54.90 lakh and BMW CE 04 electric scooter priced at Rs 14.90 …

US automakers pump the brakes on EV plans
5 months ago

US automakers pump the brakes on EV plans

China Daily  

A tire rim on a vehicle at a Ford Motor Co dealership in Colma, California, US, on Feb 1, 2021. Ford Motor outlined plans on Thursday to use a Canadian plant it had earmarked for a future electric vehicle to instead build larger, gasoline-powered versions of its flagship F-Series pickup truck. Ford had already delayed the launch of the planned …

US automakers pump the brakes on EV plans
5 months ago

US automakers pump the brakes on EV plans

China Daily  

A tire rim on a vehicle at a Ford Motor Co dealership in Colma, California, US, on Feb 1, 2021. Ford Motor outlined plans on Thursday to use a Canadian plant it had earmarked for a future electric vehicle to instead build larger, gasoline-powered versions of its flagship F-Series pickup truck. Ford had already delayed the launch of the planned …

Electric cars: EV sales are slumping—but that doesn’t mean they're dead.
5 months, 1 week ago

Electric cars: EV sales are slumping—but that doesn’t mean they're dead.

Slate  

It’s tough to gauge how well the United States’ burgeoning electric vehicle industry is faring in 2024. EV ownership is increasingly politicized, in both directions—liberals horrified by Elon Musk’s far-right turn are fueling the Tesla sales slump, while right-wingers fearmonger over foreign EV companies and want to get electric cars off the road altogether. You can see this in the …

Rough road ahead for U.S. EVs despite upbeat quarterly sales
5 months, 2 weeks ago

Rough road ahead for U.S. EVs despite upbeat quarterly sales

The Hindu  

Better-than-expected U.S. electric-vehicle sales in the second quarter brought relief to investors after a sharp slowdown in demand triggered by high interest rates, but EV makers still face obstacles ahead. EV sales globally are expected to rise to 16.6 million vehicles annually, from 13.7 million in 2023, according to the International Energy Agency, with China’s growth outpacing other regions. Tesla …

Electric car sales sink again as industry calls for tax breaks
5 months, 2 weeks ago

Electric car sales sink again as industry calls for tax breaks

The Telegraph  

Household purchases of electric cars have gone further into reverse in the latest sign of trouble facing the market. The Society of Motor Manufacturers and Traders on Thursday called for incentives to “re-energise” sales, as figures showed just one in five new electric vehicles were bought by consumers in the first half of this year. Mike Hawes, the SMMT chief …

Tesla shares rally over 10% as quarterly deliveries beat estimates
5 months, 2 weeks ago

Tesla shares rally over 10% as quarterly deliveries beat estimates

Hindustan Times  

Tesla's global sales fell for the second straight quarter despite price cuts and low-interest financing offers, another sign of weakening demand for the company's products and electric vehicles overall. For the first half of the year, Tesla sold 830,766 electric vehicles worldwide, handily beating China's BYD, which sold 726,153 EVs. Tesla also sold over 33,000 more vehicles during the second …

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 …

Tesla sales fall in Q2 despite price cuts
5 months, 3 weeks ago

Tesla sales fall in Q2 despite price cuts

Associated Press  

DETROIT — Tesla’s global sales fell for the second straight quarter despite price cuts and low-interest financing offers, another sign of weakening demand for the company’s products and electric vehicles overall. AP AUDIO: Tesla sales fall for second straight quarter despite price cuts, but decline not as bad as expected AP correspondent Tom Krisher reports Tesla sale numbers may be …

China's new-energy sector draws interest of global investors
7 months ago

China's new-energy sector draws interest of global investors

China Daily  

Tesla showcases its charging piles and electric vehicles at the 2023 Consumer Technology and Innovation Show on May 30 in Shanghai. Experts said China's fast-growing green technologies and its thriving new-energy market have heightened the country's magnetism for foreign investors, particularly auto firms keen on turbocharging the electrification trend. "The influx of investments by international carmakers has shed light on …

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 …

Tesla’s China-made EV sales fall 18% year on year in April
7 months, 2 weeks ago

Tesla’s China-made EV sales fall 18% year on year in April

The Hindu  

U.S. automaker Tesla sold 62,167 China-made electric vehicles in April, down 18% from a year earlier, China Passenger Car Association data showed on May 7. China's new-energy vehicle sales including battery-powered EVs and plug-in hybrids were estimated to hit 8,00,000 units in April, up 33% on the year and a 2% drop from the month before, according to CPCA data. …

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 …

Tesla sales have peaked in California, industry group predicts
7 months, 3 weeks ago

Tesla sales have peaked in California, industry group predicts

LA Times  

Cars are parked in a lot at the Tesla factory in Fremont, Calif., in 2022. Tesla sold fewer vehicles in California for the second straight quarter, suggesting its popularity in the state may have peaked, according to a report from the California New Car Dealers Assn. While the electric car company still makes some of the top-selling models in California, …

Deciphering Tesla’s lans for a cheaper car demands a Muskology degree
7 months, 3 weeks ago

Deciphering Tesla’s lans for a cheaper car demands a Muskology degree

Live Mint  

The chief executive loves to talk about the future of robot cars and what might come. “These new vehicles, including more affordable models, will use aspects of the next-generation platform as well as aspects of our current platforms, and we’ll be able to produce on the same manufacturing lines as our current vehicle lineup," Musk told analysts Tuesday. When the …

Tesla Quarter 1 profit falls 55%, company plans move to cheaper vehicles
7 months, 4 weeks ago

Tesla Quarter 1 profit falls 55%, company plans move to cheaper vehicles

Hindustan Times  

Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles. On a conference call with analysts, CEO Elon Musk said he expects production to start in the second half of next year “if not late this year.” New factories or massive new …

Tesla 1Q profit falls 55%, but stock jumps as company moves to speed production of cheaper vehicles
8 months ago

Tesla 1Q profit falls 55%, but stock jumps as company moves to speed production of cheaper vehicles

Associated Press  

Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles. On a conference call with analysts, CEO Elon Musk said he expects production to start in the second half of next year “if not late this year.” New factories or massive new …

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

Tesla knocks $2,000 off prices for 3 EVs after shares crash 39% YTD on falling sales
8 months ago

Tesla knocks $2,000 off prices for 3 EVs after shares crash 39% YTD on falling sales

Live Mint  

Tesla knocked $2,000 off the prices of three of its five models in the United States late Friday, another sign of the challenges facing the electric vehicle maker led by billionaire Elon Musk. The company cut the prices of the Model Y, a small SUV which is Tesla's most popular model and the top-selling electric vehicle in the US, and …

Tesla cuts US prices for 3 of its electric vehicle models after a difficult week
8 months ago

Tesla cuts US prices for 3 of its electric vehicle models after a difficult week

Associated Press  

Tesla knocked $2,000 off the prices of three of its five models in the United States late Friday, another sign of the challenges facing the electric vehicle maker led by billionaire Elon Musk. The company cut the prices of the Model Y, a small SUV which is Tesla’s most popular model and the top-selling electric vehicle in the U.S., and …

Is the global EV bubble bursting? As global demand starts to slow, share prices tank and Tesla cuts 10% of the workforce....are car giants ready to slam the brakes on electric revolution?
8 months, 1 week ago

Is the global EV bubble bursting? As global demand starts to slow, share prices tank and Tesla cuts 10% of the workforce....are car giants ready to slam the brakes on electric revolution?

Daily Mail  

Elon Musk's announcement that Tesla will lay off ten percent of its workforce shocked many but it may be inline with figures that suggest the global demand for electronic vehicles is slumping across the world. In the first quarter of 2024, the two biggest manufacturers of electronic vehicles, Tesla and its Chinese rival BYD reported dramatic sales drops compared against …

Tesla to cut more than 10% of global workforce
8 months, 1 week ago

Tesla to cut more than 10% of global workforce

China Daily  

Tesla, facing increasing competition and declining sales of its electric vehicles, said Monday that it would lay off more than 10 percent of its global workforce to cut costs. "As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity," Tesla CEO …

Tesla scouts for its first India showroom locations
8 months, 1 week ago

Tesla scouts for its first India showroom locations

The Hindu  

U.S. electric carmaker Tesla is looking at potential showroom locations in New Delhi and Mumbai ahead of plans to begin sales in India later this year, two people familiar with the discussions said. India last month cut electric vehicle import taxes to 15% from as much as 100% for automakers that invest at least $500 million and set up a …

Ahead of Elon Musk's India visit, Tesla explores showroom locations in New Delhi, Mumbai: Report
8 months, 1 week ago

Ahead of Elon Musk's India visit, Tesla explores showroom locations in New Delhi, Mumbai: Report

India TV News  

Washington: Ahead of Tesla CEO Elon Musk's visit to India, the US electric carmaker is looking at potential showroom locations in New Delhi and Mumbai ahead of plans to begin sales in India later this year, two people familiar with the discussions told news agency Reuters. India last month cut electric vehicle import taxes to 15% from as much as …

Tesla pulls a U-turn on affordable vehicle plans
8 months, 2 weeks ago

Tesla pulls a U-turn on affordable vehicle plans

China Daily  

Tesla showcases its models at the Beijing auto show in 2020. As recently as January, Musk told investors that Tesla planned to start production of the affordable model at its Texas factory in the second half of 2025, following an exclusive Reuters report detailing those plans. A fourth person with knowledge of Tesla's plans expressed optimism about the decision to …

Ford to delay production of new electric pickup and large SUV as US EV sales growth slows
8 months, 2 weeks 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
8 months, 2 weeks 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 …

Poll shows automakers are ignoring the FOUR things shoppers want from electric cars
8 months, 2 weeks ago

Poll shows automakers are ignoring the FOUR things shoppers want from electric cars

Daily Mail  

Manufacturers like Ford, GM and Toyota are not meeting the expectations of EV shoppers in four key areas, new research reveals. Shoppers want lower prices, higher ranges, electric SUVs and cars rather than the trucks makers have focused on, and more EVs from trusted brands like Toyota, according to a poll by Edmunds. EV shoppers want prices far below current …

Demand for electric cars slows sharply as customers revert to petrol
8 months, 2 weeks ago

Demand for electric cars slows sharply as customers revert to petrol

The Telegraph  

Electric car demand has slowed sharply in a sign that drivers are turning back to petrol. The market share of battery electric vehicles declined last month, the Society of Motor Manufacturers and Traders said. What gains EVs did achieve in March were driven entirely by fleet and business purchases, with sales to ordinary drivers dropping, the SMMT said. Concerns about …

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 …

Tesla sales fall short of estimates in first drop since 2020
8 months, 3 weeks ago

Tesla sales fall short of estimates in first drop since 2020

LA Times  

Tesla sales fell short of estimates in the first three months of this year. Tesla Inc. suffered its first year-over-year sales drop since the early days of the COVID-19 pandemic. Wall Street had rapidly lowered projections for the Austin-based company’s deliveries as the first quarter came to a close, including some analysts who correctly predicted that the tally would come …

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 …

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