All articles tagged with #vehicle sales
Ford reported its best U.S. vehicle sales since 2019, with a 6% increase to 2.2 million vehicles in 2025, driven mainly by strong F-Series sales and a rise in hybrid vehicle sales, despite declines in electric vehicle sales and ongoing production challenges.
Tesla's vehicle sales declined in late 2022, with expectations of lower deliveries in 2023 and a cautious outlook for 2026 due to various challenges, despite investor enthusiasm for Musk's autonomous vehicle vision.
Tesla's stock has risen despite declining earnings estimates and softer vehicle sales, as investors focus more on its AI and robotaxi ambitions, with potential expansion into multiple U.S. cities expected to influence its growth outlook.
Tesla's quarterly profits declined for the fourth consecutive time despite a rise in vehicle sales, influenced by factors such as customers rushing to use a federal EV tax credit and increased diversification into AI and robotics. The company's revenue increased to $28.1 billion, but profit margins and earnings per share fell, raising concerns about demand and market competition. Elon Musk emphasized future growth in robotaxi and AI products, while investor confidence remains cautious due to ongoing challenges in the EV market.
Ford is offering special financing rates to buyers with lower credit scores (below 620) to boost F-150 sales before the end of Q3, aiming to make vehicles more affordable despite the higher risk associated with subprime lending. This move aligns with industry trends as automakers like Stellantis and General Motors also provide low-interest deals to attract buyers amid rising vehicle prices and high interest rates.
A new tax law allows for a tax deduction on interest paid on loans for new, U.S.-assembled vehicles, potentially saving buyers thousands of dollars and possibly boosting auto sales, though its overall impact remains uncertain.
Tesla's vehicle deliveries dropped 13% in the last quarter due to increased competition, market saturation, and brand damage linked to Elon Musk's political associations, leading to a decline in resale value and global sales, despite ongoing investments in autonomous driving and robotics technology.
Ford Motor reported a 15.2% increase in U.S. vehicle sales in October 2024, recovering from subdued levels due to a union strike in 2023. The growth was driven by a 29.2% rise in truck sales, despite a decline in electric vehicle sales by 8.3%. Ford's market share increased to 12.6%, with hybrid vehicle sales up 38.5%. The company plans to pause production of its all-electric F-150 Lightning from mid-November to early January.
Analysts at Robert W. Baird predict that Tesla's vehicle sales may decline for the second consecutive quarter, with an estimated 4.6% drop compared to the same period last year, attributing the potential decrease to a challenging year-ago comparison.
Stellantis has secured a multi-billion-euro frame agreement with fleet management company Ayvens to sell up to 500,000 vehicles across Europe over the next three years. The vehicles will be purchased for Ayvens' long-term leasing fleet, with the first deliveries expected in the first half of 2024. This deal, which includes brands like Alfa Romeo, Fiat, and Peugeot, aims to support the transition to more sustainable mobility options for Ayvens' clients.
The IRS is now allowing EV buyers to claim up to $7,500 in tax credits right at the dealership, providing a much-needed boost for the struggling EV sector. This change comes as the government has been rolling back some terms, leading to confusion among consumers about vehicle eligibility. However, buyers must ensure their eligibility doesn't change between purchase and tax submission, as they may have to repay the credit if they become ineligible.
Michigan Governor Gretchen Whitmer has proposed expanding a tax rebate plan to include both electric and internal combustion engine vehicles, with larger rebates tied to purchases from union shops. Under the plan, individuals purchasing a new electric or hybrid vehicle would receive a $2,000 rebate, while those buying a new gas-powered vehicle would receive a $1,000 rebate. The rebates would increase by $500 if the vehicle is made at a union-represented facility. Whitmer plans to request $25 million in funding from the state legislature for the program. The proposal aims to lower costs, support auto workers, and stimulate vehicle manufacturing in Michigan.
Tesla has included a clause in its motor vehicle order agreement for the Cybertruck, stating that it can sue customers for $50,000 if they resell the vehicle within a year of purchase. The company may seek injunctive relief or the value received for the sale, whichever is greater. Customers can avoid this by obtaining written consent from Tesla, although the conditions for granting exceptions are unclear. This move is likely aimed at ensuring that the Cybertruck is only sold to those who have paid for it, possibly due to the vehicle not entering mass production until next year.
NIO Inc., a leading company in the premium smart electric vehicle market, announced that it delivered 16,074 vehicles in October 2023, a 59.8% increase compared to the previous year. The cumulative deliveries of NIO vehicles reached 415,623 as of October 31, 2023. Additionally, NIO's ET5T model received a five-star safety rating from the European New Car Assessment Programme (Euro NCAP). NIO remains committed to providing the highest safety standards and a joyful experience for its users.
New vehicle sales in the US surged 20.6% year-over-year in Q3, reaching 4.08 million vehicles, driven by pent-up demand and recovering from inventory shortages caused by the pandemic. Legacy automakers such as General Motors and Ford reported positive sales growth, while Tesla's global sales increased by 27% in Q3. Fleet sales and retail sales both saw significant increases, with fleet sales surging over 50% in September. However, inventory shortages and strikes at legacy automakers could put pressure on prices and potentially lead to inflation.