Ford’s November US electric vehicle sales saw a 20.8% year-over-year increase, driven by the Mustang Mach-E’s strong performance, despite a production halt and sales decline for the F-150 Lightning. The company projects a significant full-year EV segment loss.
Tesla’s Cybertruck is making waves in the EV market, with strong Q3 sales surpassing competitors like Ford’s F-150 Lightning and Rivian’s R1T. However, production constraints and higher-than-expected pricing limit its overall impact, falling short of Elon Musk’s ambitious production targets.
Chinese electric vehicle (EV) giant BYD Co Ltd. reports a stunning 68% year-over-year increase in new energy vehicle sales in November, surpassing Tesla in quarterly revenue for the first time since 2022, though Tesla maintains a lead in net profit. BYD’s aggressive expansion and focus on both pure EVs and plug-in hybrids are key factors in its success.
A new J.D. Power study reveals the significant impact of federal tax credits on electric vehicle (EV) sales. The study shows a considerable portion of EV buyers, particularly those of Volkswagen, Chevrolet, and Tesla, were primarily driven by these incentives. The potential elimination of these credits under the incoming administration could severely impact EV sales, contradicting Elon Musk’s recent assessment.
Ford’s electric vehicle sales in the U.S. declined in October, primarily due to a significant drop in F-150 Lightning pickup truck demand. While Mustang Mach-E SUV sales surged, the company’s overall EV sales were pulled down by the Lightning’s performance. Ford also faces challenges from Tesla’s Cybertruck and is making adjustments to its EV strategy, including delaying some models.
General Motors has reached a significant milestone in its electric vehicle journey, surpassing 300,000 EV sales in the US. However, Tesla remains the undisputed leader in the EV market, having sold over 471,000 EVs in the US through the third quarter of 2023. Despite this, GM is making strides with its expanding EV lineup and plans to significantly increase production in the coming years.
JSW MG Motor India witnessed a surge in EV sales on Dhanteras, selling over 100 electric vehicles in a single day in Delhi-NCR. The company, currently the second-largest electric car seller in India, attributes this success to its diverse EV portfolio, which includes the MG Windsor, MG ZS EV, and MG Comet. These vehicles offer attractive features, competitive pricing, and a battery rental scheme, making them appealing to Indian consumers.
Ford’s electric vehicle sales increased in the third quarter, driven by strong performances from the F-150 Lightning and E-Transit. However, Mustang Mach-E sales declined, and Ford faces competition from General Motors’ expanding EV lineup.
China’s electric vehicle (EV) market saw a resurgence in September, with five of the six largest EV makers posting record sales. BYD, Li Auto, and Xpeng all achieved record deliveries, driven by discounts and promotions. Tesla, on the other hand, reported a smaller-than-expected rise in third-quarter deliveries, despite a rebound in production. The surge in sales comes as the Chinese EV market seeks to combat a recent slowdown.
General Motors reported a slight dip in overall vehicle sales but saw strong growth in its EV segment. The company highlighted record EV sales and a robust performance in full-size pickups and SUVs.
