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Evsales

All articles tagged with #evsales

business1 year ago

Rush to Buy EVs Before Potential Tax Credit Cuts in 2025

Electric vehicle (EV) sales in the U.S. are expected to surge in the final months of the year as buyers rush to take advantage of significant discounts that may disappear in 2025. This anticipated increase is driven by reports that President-Elect Trump plans to eliminate the $7,500 federal tax credit for clean car buyers. Currently, discounts on some EV models can reach up to $20,000, with incentives and lease deals contributing to the growth. The potential policy change is prompting consumers to act quickly to secure these savings before they potentially vanish.

via Electrek.co|
#automotiveindustry#business#discounts
automotive-electric-vehicles2 years ago

"BYD Surpasses Tesla: The Rise of China's Leading EV Maker in the Global Market"

BYD and Tesla continue to dominate the global electric vehicle market, with BYD leading in sales and Tesla maintaining a strong presence. Other brands like SGMW JV, BMW, Volkswagen, and Li Auto are also showing significant growth in EV sales. Geely's various brands, including Zeekr, Lynk & Co, and the Galaxy sub-brand, are contributing to its rise in the market. The article also highlights the competitive landscape among EV manufacturers, with Chinese brands gaining market share and traditional automakers like Audi and Volkswagen working to expand their EV lineups. The future of the EV market looks to be shaped by continued growth from BYD and Tesla, as well as emerging players like Geely-Volvo and new models from various brands.

via CleanTechnica|
##autoindustry#automotive-electric-vehicles
business-and-finance2 years ago

"Ford's Mixed 2023: Record Sales and EV Losses Spur Industry Evolution"

Ford Motor Company experienced a record quarter for electric vehicle (EV) sales, leading to a 7.1% increase in U.S. sales to nearly 2 million vehicles. Despite this success, Ford's EV business unit, Model e, is projected to lose about $4.5 billion in 2023 due to high production costs. However, this loss is seen as a necessary step towards long-term profitability, with the company aiming for an 8% EBIT margin by the end of 2026 through increased sales, design and engineering improvements, and lower battery costs. Ford's commitment to EVs, including the popular F-150 Lightning, positions it as America's No. 2 EV brand and indicates potential growth in 2024 with new vehicle releases.

via Yahoo Finance|
##business-and-finance#electricvehicles
business-technology2 years ago

Fisker Shifts Gears with Hybrid Sales Strategy and Dealer Partnerships

Fisker, an electric vehicle startup, is significantly underperforming against its internal sales targets and CEO Henrik Fisker's public goal of delivering 300 EVs per day. Internal documents reveal that the company often sold only one to two dozen Ocean SUVs daily in North America, prompting a shift in strategy to partner with dealerships instead of relying solely on direct sales. Despite initial claims of strong demand, Fisker has had to cut production forecasts and has only delivered about 4,700 of the 10,142 Oceans built by Magna in 2023, citing software issues and supplier troubles as contributing factors to the slow rollout.

via TechCrunch|
##automotiveindustry#business-technology
automotive-business2 years ago

"Ford's Strong 2023 Sales Surge Despite EV Slowdown and SUV Dip, Outpaces Industry Recovery"

Ford maintained its position as the second top-selling EV brand in the US after a record Q4 in 2023, with nearly 26,000 EVs sold, including the F-150 Lightning, the nation's best-selling electric truck. The Mustang Mach-E also saw its best sales year, and the E-Transit led in electric van sales. Despite this success, Ford is adjusting its EV strategy, slowing down investments, and focusing more on hybrids, with EVs making up only 3.64% of its total vehicle sales compared to 6.7% for hybrids. Tesla remains the market leader with a significant margin, delivering over 484,000 EVs in Q4 alone.

via Electrek.co|
##automotive-business#evsales
business2 years ago

"Fisker Shifts Gears with No-Haggle Dealership Partnerships to Accelerate EV Sales"

Fisker, an electric vehicle company, is expanding its sales strategy by incorporating dealerships into its distribution model, aiming to boost sales and delivery of its vehicles. The company plans to add up to 50 dealer partners in the US and Canada, as well as a similar number in Europe, to complement its existing direct-to-customer approach. This move comes as Fisker seeks to address distribution constraints that limited its deliveries to about 4,700 units of the Ocean SUVs, despite producing over 10,000 vehicles in 2023. The first Ocean vehicles are expected to reach new dealers by the end of the first quarter.

via Reuters.com|
##automotiveindustry#business
automotive-technology2 years ago

"BYD Dethrones Tesla with Record EV Sales, Becoming New Global Leader"

BYD has surpassed Tesla in electric vehicle (EV) sales, with the Chinese automaker selling 526,409 fully electric cars in the final quarter of 2023 compared to Tesla's 484,507. Despite a 38% increase in Tesla's year-over-year deliveries, BYD's total EV sales for 2023 reached 3,023,679, a 62% increase from the previous year. BYD's success is attributed to its focus on battery technology and a vertically integrated business model, contrasting with Tesla's emphasis on autonomous driving and high-tech features. As BYD continues to expand and innovate, including the launch of new EV brands and direct sales models, the competition between the two companies is expected to intensify in 2024.

via Not a Tesla App|
##automotive-technology#autonomousdriving
business-and-finance2 years ago

"Tesla's Record 2023 EV Sales Surge Despite Stock Dip and Rising Chinese Competition"

Tesla achieved its sales goal by selling 1.8 million electric vehicles in 2023, but the growth rate of 38% fell short of Elon Musk's target of 50%. Despite setting a new sales record, Tesla faces increasing competition, particularly from Chinese automaker BYD, which surpassed Tesla in EV sales in Q4 2023. Tesla's market share is also slowly declining in the US, and its share price dropped by nearly 5% following the sales announcement.

via Ars Technica|
##automotiveindustry#business-and-finance
business-and-technology2 years ago

"Tesla Hits Record 1.8M EV Deliveries in 2023 Despite Rising Competition and Wall Street Caution"

Tesla has reported a record delivery of 1.8 million electric vehicles (EVs) in 2023, marking a 38 percent increase from the previous year, although falling short of its initial 2 million target. The company produced 1.846 million EVs, with the Model 3 and Model Y making up the bulk of the last quarter's production and deliveries. Despite facing competition from China's BYD, which sold 1.6 million fully electric cars, Tesla exceeded analyst expectations for Q4 2023. Tesla's sales were potentially aided by price reductions attributed to economic factors, while the company continues to navigate challenges, including regulatory scrutiny of its Autopilot system.

via Engadget|
##autoindustry#business-and-technology
business-and-finance2 years ago

"Tesla Reigns Supreme in Norway's EV Market, Capturing Over 80% of 2023 Sales Despite Strikes"

In 2023, Tesla achieved significant market dominance in Europe, hitting its delivery target of 1.8 million vehicles. The Tesla Model Y led sales across several countries, including the UK, Norway, the Netherlands, Spain, Sweden, and Denmark, with market shares ranging from 15.3% to an impressive 34.5%. Despite being outpaced by BYD in China, Tesla's performance in Europe was robust, with the Model Y setting sales records and consistently outperforming competitors like Volkswagen and BMW.

via TESLARATI|
##business-and-finance#electricvehicles
automotive-environment2 years ago

"Tesla Reigns Supreme in Norway's 2023 EV Market with Over 80% Share Despite Strikes"

Norway has achieved a significant milestone in sustainable transportation, with 82.4 percent of all new cars sold in 2023 being electric. This marks an increase from the previous year and aligns with the country's goal to phase out petrol and diesel car sales by 2025. Tesla's Model Y led the charge, contributing to a significant portion of the electric vehicle sales, followed by other popular brands like Toyota and Volkswagen.

via The Verge|
##automotive-environment#electricvehicles
automotive-technology2 years ago

"U.S. Electric Vehicle Market Hits Speed Bumps as Adoption Challenges Emerge"

Despite a recent slowdown in electric vehicle (EV) sales and a dip in consumer enthusiasm, industry insiders remain optimistic about the future of EVs. With price reductions from Tesla and other manufacturers, the introduction of new models, and the adoption of a universal charging standard, experts believe that EVs will continue to grow in market share. High interest rates and a lack of cheap models have contributed to slower sales, but upcoming three-row electric SUVs and improvements to existing models are expected to boost the market. Automakers are adjusting their strategies in response to the changing landscape, with some scaling back production targets due to weaker demand and others preparing to launch their first EVs. The Inflation Reduction Act has also influenced the market by reducing the number of EVs eligible for federal tax credits. Nonetheless, predictions for EV sales in the U.S. remain positive, with expectations of reaching 1.5 million units in 2024 and 2 million by 2025.

via ABC News|
##autoindustry#automotive-technology