EV.com’s Post

Overall, the pure electric vehicle (#EV, or #BEV) share of #US auto sales was 6.9% in the first quarter of 2024. EV sales increased slightly compared to the first quarter of 2023, but overall auto sales increased more, so EV market share dropped from 7% to 6.9% year over year. It was also down from the 4th quarter, which had a record high 7.9% EV #marketshare. Still, it was up from 4.5% in Q1 2022, 2.4% in Q1 2021, 1.4% in Q1 2020, and 1% in Q1 2019. Was this just a slight dip in EV market share growth? Or was it the beginning of a downward trend, or at least a leveling off? Given all of the benefits of electric cars, their ongoing cost reductions, and growing model variety, I assume this was a temporary and uncharacteristic drop in EV market share. With #Tesla accounting for more than half of US EV sales, the big hit in the first quarter was simply Tesla’s drop in sales — quarter over quarter as well as year over year. Year over year, non-Tesla EV sales were up 21,792 in the first quarter. However, they were down by almost 20,000 units quarter over quarter. Digging down a bit deeper, let’s look at how different automakers and different auto brands performed in terms of the share of their own sales that were EV sales. (Note that several auto brands don’t sell EVs in the US and thus aren’t even included here.) Looking first at auto groups, we can see that #BMW Group became the #1 auto group in the nation for the share of its sales that were electric, at 13.6% share. In second was #Geely, which was at 10.6% share, and then another big #German luxury automaker, #Mercedes, came in third with 10.1% share. And then you’ve got the third of the big German auto groups, #Volkswagen Group, scoring 9.4% share. So, three of the top four auto companies were the German Big 3. Getting to mass-market brands, the #Hyundai–Kia collab had 5.1% share, a bit more than #Ford Motor Company’s 4.2% share. #GM was down at 3%, #Nissan at 2.2%, and #Toyota at a shameful 0.6%. Honda’s not even on the board. Looking at the same metric but split out by auto brand instead of auto group, we find #Cadillac is the leader! Who would’ve thought? With 16.4% share of its first quarter sales coming from the Cadillac LYRIQ, the old-school luxury brand from the US was bossing it with a very new-school EV. #Audi was quite far behind in second with a respectable 12.9% share, and BMW was right on its tail with 12.7% share. Right behind BMW was its little sibling, #MINI, at 11.7% share. The next two brands — Mercedes (10.1%) and #Porsche (9.3%) — were also luxury brands, showing very clearly what segment of the market is going electric in the #USA.

AUDI AG's global electric vehicle sales actually grew quite considerably in 2023 - by 51%! 🔋 Audi global car sales during the fourth quarter of 2023 increased by 20% year-over-year to 508,600, while the full-year result amounted to 1,895,240, rebounding by 17.4% to the highest level in a few years. More importantly, all-electric cars are starting to account for about a tenth of the company's global sales volume. In Q4, Audi sold roughly 55,400 all-electric cars, which is a 34% increase year-over-year and a record 10.9% share in the brand's total volume. The main electric model in the company's lineup is the MEB-based Audi Q4 e-tron (including the Sportback version), which is a direct cousin of the Volkswagen ID.4 (and ID.5). In 2023, Audi BEV sales improved by 51% year-over-year to 178,400, which represents 9.4% of the total volume. In the first quarter of 2024, Audi intends to present its all-new Audi Q6 e-tron model, which will join the Q4 and Q8 e-trons. The Q6 e-tron will be the first model based on the Volkswagen Group's new Premium Platform Electric (PPE) system developed specifically for electric models. According to previous reports, starting in 2026, the German brand will only introduce all-electric cars to the global market. What would you say Audi are doing differently to other OEMs? 👀 Follow me for more #automotive news, opportunities and content! 🚗 🚘

Mercedes-Benz's Q3 report reveals a whopping 284% increase in U.S. EV sales from Q3 2022, with 10,423 units sold. The EQE SUV led the charge, followed by the EQB and EQS SUV. Interestingly, while Q3 EV sales made up 11.5% of total sales, EVs accounted for 14% of overall sales YTD. A slight dip from Q2's 15%, but the momentum is undeniable. Such robust growth from a premium brand like Mercedes-Benz underscores the accelerating consumer shift towards EVs in the U.S., signaling a maturing market ready for high-end electric options. #MercedesBenz #EVSales #USMarket #electricVehicles https://lnkd.in/eZqymtDc

BEV sales slowing down❓ "Deliveries of battery-electric vehicles, such as the i4, iX1 and i7 surged 41 percent in the three months through March compared to the same period last year, the company said Wednesday." (Automotive News) Despite not having invested in platforms dedicated to electric vehicles, BMW Group manages to offer BEVs (Battery Electric Vehicles) with good "electric characteristics", advanced software, and widely accepted design. Managing the energy transition in a brand with roots so deeply entrenched in combustion is not easy, but one must acknowledge the good results BMW has achieved. Rimac Automobili partnership and bidirectional charging in the "Neue Klasse", are also good indications for BMW's electric future. In the premium segment, there is less pressure from the demand for more affordable BEVs, and with a competitive offering, it is possible to successfully navigate market fluctuations. Ricardo Oliveira World Shopper | #GetReadyForTheFuture James Carter Pedro Pacheco Massimo Senatore Carlos Martins Raúl González Martín Pedro Nuno Ferreira José Mendes da Silva João Antunes BMW Portugal #BMW

The EoFY New Car Sales. End of Financial Year isn't just a date – it's a pivotal marker. In the automotive realm, FY23 surged with 1,125,319 vehicles hitting the road, a remarkable 10% jump from FY22, reclaiming pre-pandemic levels. Key Points: Over 100,000 more vehicles sold than FY22, despite supply hurdles. Toyota's 15% dip creates space for new contenders. EV boom: 66,822 EVs sold in FY23, up from 12,612 in FY22. China overtakes Korea: 169K Chinese-made vehicles sold in FY23. Dig a little deeper in our blog post here: https://lnkd.in/gGuRU3Ad #AutoInsights #EVBoom #VFACTS

BMW's Electric Vehicle Sales Soar, Outshining Mercedes-Benz and Audi BMW has achieved significant success in the electric vehicle (EV) sector, reporting a 22% increase in sales during Q2, delivering 107,933 units. This performance places BMW ahead of its German competitors, Mercedes-Benz and Audi, who faced either declines or stagnant sales. Mercedes-Benz, in particular, experienced a 25% drop in EV sales, attributed to outdated models and a challenging market environment. Additionally, Mercedes-Benz faced a stock market setback following a downgrade by Bank of America, raising concerns about the impact of an aging fleet on its future. Volkswagen also revised its profit margin expectations to a maximum of 7%, citing additional expenses and potential plant closures, including an Audi plant in Belgium. Despite these market challenges, BMW's strong EV lineup has driven its success, setting it apart in the current automotive landscape. # Thank you Florian Richter for your submission!

I already wrote about #Audi and #BMW #electricvehicle sales booming in the #USA in the 1st quarter of 2024 compared to the first quarter of 2023. With more automakers reporting their sales numbers, we can now see that several other automakers also had strong year-over-year growth in EV sales. This goes against the narrative that EV sales, or EV sales growth, is drooping — well, that is, if you take Tesla’s poor 1st quarter performance out of the equation. Let’s have a look at how much four other car brands grew their EV (full battery electric) sales in the 1st quarter of 2024 compared to the 1st quarter of 2023. Actually, I’ll add Audi and BMW in here as well. Audi — 29% BMW — 63% Cadillac — 499% Ford — 86% Hyundai — 76% Kia — 138% That looks like pretty solid growth to me. Here are the numbers, looking at volumes instead of percentages this time, in chart form: So, what actual electric vehicle models are driving this sales growth? Let’s have a closer look. In the case of #Cadillac, the LYRIQ is on fire after a gradual production and delivery ramp-up since it was introduced in Q3 2022. It logged 5,800 deliveries in the 1st quarter, up from 968 deliveries in the 1st quarter of 2023. That was also its best quarter yet, a big increase from the 3,820 deliveries of Q4 2023. In the case of #Ford, the E-Transit had its second best quarter ever thanks to 2,891 sales, only trailing the 3,861 sales of Q3 2022. However, the brand’s bigger players are the Mustang Mach-E and F-150 Lightning. Those two models were up significantly over Q1 2023 — from 5,407 to 9,589 in the case of the Mach-E, and from 4,291 to 7,743 in the case of the Lightning. Admittedly, they were indeed down compared to Q4 2023, but it is a common trend in the industry for the 1st quarter to be a weaker sales quarter. Moving over to #Hyundai, the IONIQ 5 was up slightly, from 5,736 in Q1 2023 to 6,822 in Q1 2024. However, there’s also now the IONIQ 6, which rose from 222 sales in Q1 2023 (its first sales quarter) to 3,646 in Q1 2024. Last, but clearly not least, we come to #Kia. The EV6 grew from 3,392 sales in Q1 2023 to 4,059 sales in Q1 2024. However, again, it was a new entrant that really provided the boost. The EV9 was not on the market a year prior, and then logged 4,007 sales in Q1 2024, its second quarter on the market. So, there’s the story of significant portions of the US #EVmarket at the moment. More to come in the full report when all numbers are in and crunched. As we can see, though, things are looking pretty bright for big brands in terms of US EV sales.

A common prediction for 2024 EV sales was that General Motors would struggle to maintain the momentum it gathered in 2023. Two factors were commonly used to support this position: 1) The most popular all-electric model in GM's line-up, the Bolt EV, leaving the line-up for MY 2024, and 2) Ultium models experienced early production issues, while also not being affordable enough to replace the Bolt EV for budget-conscious buyers. Q1'24 sales further backed the notion of a tough year for GM, with YOY numbers down 20.5% compared to Q1'23. Meanwhile, competitors like Ford Motor Company (up 86.1%) and Hyundai-Kia (up 56.1%) posted numbers heading in the opposite direction. As reported by InsideEVs, GM appears to be in the middle of a very strong Q2 thanks to the Cadillac Lyriq, which made up around one-third of the company's 9,000+ EVs sold in May across the U.S. and Canada. That marks the best sales month yet for GM's electric vehicles, which previously stood at approximately 7K sold and relied heavily on the budget sector of the Bolt EV, rather than the more premium pricing that the Lyriq commands. With the Chevy Blazer EV arriving on dealer lots across North America and the Chevy Equinox EV receiving very positive press, plus the Silverado EV looking like the pick of 2024's all-electric truck options, GM could actually steal a march on its competitors. Although the lure of becoming the first automaker after Tesla to sell more than 100K EVs is the more realistic milestone, it's worth noting that GM's stated target for the year is more than 200,000 EVs sold. Even if they fall short, posting numbers in that region amidst a wave of negative headlines - and following the Ultium platform's troubled 2023 rollout - would be a remarkable turnaround. It would also set the stage for a bumper 2025, with the Bolt EV set to return as the market's most affordable electric car alongside a product roster that hits some key vehicle categories and price points. What barriers exist that could undercut this rosier outlook for GM's EV ambitions? #EVsales #electricvehicles #EVmarket

June 2024 saw Toyota North America selling 193,120 vehicles, with electric vehicle (EV) sales soaring by an astounding 64.5% to 84,781 units, making up nearly 44% of their total monthly sales. 🤩 This surge is part of a broader trend observed over the first half of the year, where TMNA’s (Toyota and Lexus) EV sales hit 454,197 units, an impressive 67.9% increase, accounting for 38.3% of their total sales, driven by demand for affordable and premium crossover SUVs. 🤝⚡️ Tap the link below to learn more! 🙌 https://lnkd.in/eQbaHk6z #ElectrifyNews #EV #ElectricVehicle #Toyota #ElectricCar

Autoline Daily 2024: Top Industry News for April 10 Toyota Reveals All-New 4Runner; BMW EV Sales Up 40% In Q1; China Closing Idled Car Plants http://spr.ly/6049wcuUb #Automotive #AutomotiveTechnology #IndustryNews