Ken Boyer’s Post

If you're considering an electric vehicle, now may be the time to buy. EVs are on super sale. Bloated inventory is pushing automakers and dealers to slash prices, with many discounts reaching far into double-digit percentages. Nissan is offering almost $16,000, or nearly a third, off its Ariya electric crossover. Mercedes is giving its EQS SUV a $19,442 cut from an average price of $104,747, a 19 percent discount, according to Cox Automotive Inc. The price cuts are a reaction to EVs flooding dealers' lots. EVs were sitting at dealerships for an average of 169 days in mid-February. That's fallen to 119 days as of April 1, but dealers say incentives still aren't enough to move the EV needle. More here: https://lnkd.in/gXdV8jDa cc: Automotive News #EV #electricvehicle #nissanariya #evdiscount #EVdeal #dealerships

Electric Vehicle Sales Trends - The Numbers Living in California I see electric vehicles on every corner and on all freeways. There are so many EVs here that it’s hard to see sales trends by mere observation. Cox Auto reported that Q1 2024 sales of battery electric vehicles (BEVs) showed signs of slowing but from a pace that was terrific in 2023. The chart below shows Ford, Hyundai, Mercedes, and BMW had significant increases in their BEV sales volume, chopping away at Tesla’s market share. Ford: The Blue Oval brand’s EV market share rose to 7.4%, up from 4.2% in 2023, making it the second-highest BEV seller in the United States. Non-Tesla Automakers: In Q1 2024, non-Tesla automakers collectively sold their third-highest sales volume with a year-over-year increase of 18%, but the growth rate is cooling compared to previous years. Conclusion: The BEV market stays strong as it matures. #electricvehicles #BEV #EV #Ford #Hyundai #Mercedes #BMW Note: Only automakers with >100 BEV sales in Q12024 shown. Source: KBB, Cox Automotive. Chart by The New York Times

Don't believe the headlines! Despite recent media buzz on consumer demand for EVs slowing down, data shows none of that is true. The electric vehicle market is thriving. ➡ In the fourth quarter of 2023, fully electric vehicles claimed a record-high 8.1% market share of new sales in the U.S. ➡Of the 3.8 million light-duty vehicles sold in America during Q4 2023, 317,168 were fully electric (source: Kelley Blue Book). Exciting news for consumers: ➡More affordable EV models like the Volvo EX30 and Chevy Equinox EV, along with existing options, will soon be available under $40k ➡Tesla's Supercharger network is opening to non-Tesla vehicles, and most automakers will adopt the NACS plug Contrary to media claims: ❌Cox Automotive data suggests dealers are taking time with EV sales, but it doesn't signal a slowdown ❌While Ford and GM are facing real challenges, the overall state of the electric vehicle market is healthy #ev #evcharging #evchargers #evcharginginfrastructure #electricvehicles 

⚡ The last Electric Car Count release of 2023 is here! Wait, 2023? Yes, here is what happened in the car market in December: Electric vehicle sales ended 2023 positively, despite a slowdown at some firms in the last 2 months as industry has got ready for the Zero Emissions Vehicle mandate, which introduces a major set of incentives for makers to sell more electric cars and vans from 2 January. ⏩ Pure electric cars accounted for 19.9% of sales in December 2023. ⏩ Tesla's market share has decreased due to production setbacks - other firms have stepped up to fill in the gap. ⏩ VW remains the UK's biggest seller, with 15.13% EV sales. Read the full release here: newautomotive.org/ecc

Don't believe the headlines! Despite recent media buzz on consumer demand for EVs slowing down, data shows none of that is true. The electric vehicle market is thriving. ➡ In the fourth quarter of 2023, fully electric vehicles claimed a record-high 8.1% market share of new sales in the U.S. ➡Of the 3.8 million light-duty vehicles sold in America during Q4 2023, 317,168 were fully electric (source: Kelley Blue Book). Exciting news for consumers: ➡Gently used Telsa Model 3s with typical used car mileage of 30-40k can be purchased for approximately $25k. In that sweat spot of a $400-500 payment. People buy on payment. ➡More affordable EV models like the Volvo EX30 and Chevy Equinox EV, along with existing options, will soon be available under $40k ➡Tesla's Supercharger network is opening to non-Tesla vehicles, and most automakers will adopt the NACS plug Contrary to media claims: Cox Automotive data suggests dealers are taking time with EV sales, but it doesn't signal a slowdown. While Ford and GM are facing real challenges, the overall state of the electric vehicle market is healthy.

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

By the numbers: So far in 2023, automakers have sold about 876,000 electric cars, according to Cox Automotive. EV sales rose 50% in the third quarter compared to the same period in 2022. That's a modest cooling off from 2022's Q3 record growth, when EV sales soared 71% over Q3 in 2021. What's next: Cox predicts EVs will account for 8%-9% of U.S. auto sales for 2023. Some automakers have already surpassed that EV mix: BMW (15.6%), Audi (12.7%), Volvo (12.6%), Volkswagen (12.2%) and Mercedes (12.0%). #ElectricVehicles #EVs BMW Group Mercedes-Benz AG AUDI AG Volkswagen Group Volvo Group

Hyundai-Kia has posted a banner year for its US electric vehicle sales. According to a new BloombergNEF piece, the two automakers accounted for more than 8% of the passenger EVs sold in the country in 2023, outpacing both General Motors and Ford Motor Company. Only market behemoth Tesla had a greater sales share. The group has also enjoyed a meteoric rise in the number of vehicles sold. At an estimated 117,000 units, Hyundai-Kia’s 2023 sales jumped 60% year-on-year, driven primarily by strong performances from @Hyundai’s Ioniq 5 and Ioniq 6 EVs. For more details, including what sets Hyundai Motor America and Kia Worldwide's EVs apart, check out the full piece: https://lnkd.in/eH3yMxFe

NEWS: New car prices hardly budged in July… Plus, Toyota receives top marks for long-lasting vehicles, and things are looking up for public EV charging… Today’s top 3 stories in automotive: 1. New vehicle prices are falling at an agonizingly slow pace despite increasing incentives and inventory, according to Cox Automotive Inc.... https://lnkd.in/gWFt_AKX 2. While long-lasting cars build strong brand loyalty, they also extend trade cycles and reduce service needs, impacting dealer profits, via iSeeCars… https://lnkd.in/gS4_mUeq 3. Tesla's decision to open up its Supercharger network is revving up satisfaction among EV drivers…. https://lnkd.in/gzrwUdut Read today’s automotive news, brought to you by DLRdmv: https://lnkd.in/gkyJsAaD

Consumer Interest in Automotive EVs Continues to Shrink: … dozens of new electric vehicles automakers plan to roll out over … , according to a report by Automotive News. Nearly a quarter of … , 19% said they disliked EVs. Automotive research firm J.D. Power … read the full report by Automotive News. #car #cars #awesome