"A great challenge of life: Knowing enough to think you're doing it right, but not enough to know you're doing it wrong."
And Q1 EV sales came in at ... what? 2%. The author tries to hide the fact by claiming that circumstantially the EV market is healthy except for Tesla and GM. Except that Tesla is 53% of the market or was 63% of the market in 2023, and the others have less than 10% each. So what happens to Tesla's sales have an outsized impact not because of its delta.
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Tesla's Model Y continues to lead U.S. EV sales, capturing over a third of the market in Q1. With 96,729 units sold, it commands a 35.4% share, significantly outpacing its closest rivals. Meanwhile, overall EV market share dipped slightly to 7.3%. The industry faces fluctuations but looks towards increased growth with new incentives and infrastructure. #ElectricVehicles #TeslaModelY #EVMarketShare #AutoIndustryTrends https://lnkd.in/e6ajJTAk
Tesla Sales in California Drop 24% Tesla registrations dropped 24% in California in Q2. California is Tesla’s biggest market outside of China. #EV sales as a whole are doing well in California, grabbing 21% of total car sales for 2024 YTD. Toyota, Hyundai and Ford are seeing big gains in EV sales. #Tesla #electricvehicles https://lnkd.in/g6PRz4nK
First quarter #EV sales growth slowed to 2% compared to last year but is 71% higher than in 2022 and 170% higher than in 2021. It's all how we slice and dice. Meanwhile, overall car sales increased 7% in Q1 compared to Q1 last year. But consider this: #Tesla represents the majority of EV sales, and its sales slump, driven by production delays on the new Highland Model 3, is weighing things down. Removing Tesla's Q1 sales from the data, all the other automakers saw a 24% increase in EV sales in Q1, vastly outperforming gas cars. At this point in the transition, Tesla must stay strong, and, more importantly, legacy car companies must begin to succeed at scale. My takeaway is that the EV market revs on at a temporarily slower pace as automakers pivot from early adopters to mass-market consumer needs and expectations, including Tesla's Model 3 revamp. I'll wager sales pick up in Q2, and we will end 2024 with 35+% year-over-year EV growth despite anti-EV political theater and Supercharger network concerns, given the roughly 40% of consumers who surveys repeatedly show definitely buying or seriously considering an EV for their next car. Does anyone want to take that bet? You can see more Q1 sales data slicing and dicing from CleanTechnica here: https://lnkd.in/dNdcB8H4 #electricvehicles #cars #transportation #cleanenergygeneration #climateaction
Tesla reported a dip in full-year auto sales Thursday, missing a company forecast in a sign of rising electric vehicle competition in China and other markets. Elon Musk’s EV company reported 495,570 fourth-quarter deliveries. While that represented a quarterly record, it lagged Wall Street estimates and resulted in full year-sales of just under 1.8 million vehicles. This was around one per cent less than the 2023 sales, even as Tesla said in October that it expected “slight growth” in vehicle deliveries for the year. Read more: https://lnkd.in/eg2QUGdE
“For every sign of an EV slowdown, another suggests an adolescent industry on the verge of its next growth spurt. In fact, for most automakers, even the first quarter was a blockbuster. Six of the 10 biggest EV makers in the US saw sales grow at a scorching pace compared to a year ago” https://lnkd.in/eNkpNcqY #EVs #ElectricVehicles #EVSales
U.S. electric vehicle demand continues to surge for most automakers, with 6 out of the 10 largest U.S. EV makers experiencing yoy growth in Q1 2024. Excluding Tesla's Model 3, for which production was impacted by a redesign, and GM's Chevy Bolt, which was discontinued, U.S. EV sales increased 23% yoy. The key to higher EV sales appears to be new, affordable models. At Ridgeline, we continue to be bullish on long-term EV demand and see this as a once in a generation opportunity for the mining sector, to supply the metals needed in EV batteries. #EVs #electricvehicles #batterymetals #lithium #graphite #nickel #cobalt #ridgelineroyalties https://lnkd.in/eNkpNcqY
Semi-Retired Consultant: Specializing in EV and other high-voltage Manufacture & Remanufacture: Battery, Powertrain, DFM, Factory Layout, Logistics, Strategy
Some would have you believe that year-over-year EV sales are dropping. But these Bloomberg graphs below tell a whole different story. While there may be a natural flattening in the growth curve as volume increases, there is certainly no year-over-year sales slump. The second graph, in fact, shows that EV sales grew >50% in Q1 2024… with a few notable exceptions: 1) GM was down because they discontinued the very popular Bolt while transitioning production to their new Equinox EV. 2) Tesla claims that their slowing has to do with new Model 3 tooling… but I think it also says that Trump needs to get his sh*t together; stop fooling around and start focusing on building cars again. 3) Volkswagen? I’ve no clue. 🤷🏻♂️
Tesla delivered 495,570 vehicles for the quarter ended Dec. 31, missing the roughly 512,277 analysts had projected, while annual vehicle sales dropped for the first time in more than a decade. David Welch reports https://trib.al/ojU1X34
'They Need to Expand': Tesla's Annual Sales Declined For the First Time in 2024. Here's Why. The electric carmaker sold fewer vehicles in 2024 than it delivered in 2023. https://lnkd.in/gRMTm9HW
