China’s EV sales are slowing down even as EV companies are offering deep discounts to fuel demand. According to data from the China Passenger Car Association, EV sales in China are slowing down. A Reuters report, citing this data, stated that sales of battery-powered EVs increased by 18.2...
So when the company that made up more than 56% of U.S. EV sales last year starts a hard slump, then yes, it brings all total EV sales down with them. The loss of the Bolt and the decline of Tesla are creating a great deal of uncertainty in the overall market. It's like a bas...
“As anticipated, Tesla’s sales took a hit, influencing the overall market dynamics. However, a few brands saw significant EV sales increases, achieving over 50% year-over-year growth. As noted in January, we are calling 2024, ‘the Year of More’. More new products, more incentives, mo...
Analysts say sales are slowing because early adopters have bought EVs and mainstream buyers are worried about limited range and a lack of chargers on longer trips. Still, automakers are adding segments of the markets, and with more models arriving, buyers have more choices, said Stephanie Br...
PARIS (Reuters) - Europe's autos industry could face fines of 15 billion euros ($17.4 billion) for carbon emissions due to slowing demand for electric vehicles, Renault CEO Luca de Meo said on Saturday. Automakers face tougher EU CO2 targets in 2025 as the cap on ave...
Volkswagen’s electric vehicle (EV) sales for the first half of 2024 (H1) have been marginally affected by slowing demand. The German automaker reported “the same delivery level as 2023” for the first half of 2024. Volkswagen reported delivering 4.25 million vehicles worldwide for H1 2024 co...
It’s also important to highlight thatEV sales growth rates have already been on a downward trendsince the end of 2021, with sales slowing in November 2022 due to the macroeconomic downturn and rising Covid-19 cases. Indeed, data fromChina’s Association of Automobile Manufacturers (CAAM)(hig...
Slowing EV sales cause industry-wide concern in the wake of the cost of living crisis. Concerns are rising that public appetite for switching to electric vehicles is waning as the cost of living crisis combines with increasingly vehement anti-electric car rhetoric to severely dent consumer ...
Toward the end of 2023, automakers responded to the slowing pace of EV growth by delaying vehicle launches, cutting production and canceling EV development partnerships. To be clear, EV sales are growing. They surpassed a million in the U.S. last year, up from about 700,000 in 2022, ...
of Automotive Manufacturers forecasts a slowing of sales momentum this year, predicting around 8 million EV sales this year. We expect slow sales to continue through the first quarter, but CATL’s announcement of a price cut in battery cells for automotive offtakers will help boost sales again...