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☆ Tesla set to report second-quarter earnings after the bell Tuesday
▼ + stars: | 2024-07-23 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Tesla is set to report second-quarter earnings after the bell on Tuesday. Although Tesla reported vehicle deliveries of 443,956 in the second quarter, a 4.8% decline from the year-earlier period, those numbers were better than analysts had expected. But Musk and his stalwart Tesla bulls and broader fan base have ambitions for the EV maker beyond making and selling cars. In 2021, Musk also began to promise that Tesla would develop and produce humanoid robots capable of factory work, at least. Tesla "deliveries" are not an audited financial metric, but are the closest approximation to sales reported by the company.

Persons: Elon Musk, The Beverly Hilton, Tesla, Elon, Musk, Donald Trump, InsideEVs Organizations: SpaceX, Tesla, The Beverly, LSEG, PAC, Trump, Republican, Pew Research, Democratic, Cox Automotive, Boring Company, X Corp, CNBC Pro Locations: Beverly Hills , California, U.S

☆ It’s becoming harder to get — and keep — a car
▼ + stars: | 2024-07-22 | by ( Alicia Wallace | ) edition.cnn.com time to read: +6 min

Cook did the math, made a pros and cons list, and bought a new car. Courtesy Greg CookHis car — the monthly payment, the fast-rising insurance, fuel and maintenance costs — takes up a 30% share of his monthly budget. And buying a car is no cakewalk either: Credit is increasingly harder to come by and rejection rates are spiking. Instead, consumers have been presented with a higher bar, including requirements for a heftier down payment and a higher credit score, he said. More restrictive lending typically equates to approval rates going down and rejection rates rising.

Persons: Greg Cook’s, he’d, I’ve, ”, Cook, Greg Cook, “, Jeremy Robb, “ Everyone’s, Robb, David Paul Morris, they’re, repossessions Organizations: CNN, Cox Automotive, Federal Reserve Bank of New, Federal, Bloomberg, Getty Locations: Oregon, Federal Reserve Bank of New York, Richmond , California

☆ Americans are buying more Kei trucks from Japan. Is it a sign of a growing “tiny truck” movement?
▼ + stars: | 2024-07-14 | by ( Erika Tulfo | ) edition.cnn.com time to read: +9 min

CNN —Measuring about half the length of a Ford F-150, Kei trucks look almost like toys in comparison to your standard pickup truck. Instagram page Kei Trucks Appreciation Society (@keitrucksas) sells Kei truck-themed merchandise from hoodies to stickers and posts memes for its more than 95,000 followers. On X, Kei truck fans share pictures of mini trucks they spot in the wild. Most states lack Kei-specific regulation entirely, and so far, only 19 states allow Kei trucks on public roads. And data from Edmunds showed that Americans were trading in more midsize and large pickup trucks for compact trucks than vice versa.

Persons: Kei, ”, George Zotos, Bill Pugliano, Zotos, Tetsu Ichino, “, I’ve, it’s, Andrew O’Bright, Kei truck’s, ” Zotos, Melissa Torre, Torre, Mark Schirmer, Mercedes ’ Smart, ” Schirmer, Ford, Edmunds, Ivan Drury, Drury, ’ Organizations: CNN, Ford, Silverado, American International Detroit Auto, Research, JDM Imports, Philadelphia, Torre, Daihatsu, Cox Automotive, Mercedes, Benz, Insurance Institute for Highway Safety, Ford Maverick, Hyundai, Hyundai Santa Cruz Locations: Japan, New York, Detroit , Michigan, Rockville , Maryland, Maryland, Chicago, Kei, U.S, Hyundai Santa

☆ Tesla’s Share of U.S. Electric Car Market Falls Below 50%
▼ + stars: | 2024-07-09 | by ( Jack Ewing | ) www.nytimes.com time to read: +1 min

Tesla’s once-commanding share of the market for electric vehicles in the United States slipped below 50 percent in the second quarter of the year even as sales of battery-powered cars surged to a record, according to new estimates published Tuesday by a research firm. It was the first time the company’s market share fell below 50 percent in a quarter, according to Cox. The firm, a leading auto industry researcher, estimates market share based on registrations, company reports and other data. Before that car, very few electric vehicles were sold in the United States. A year earlier, electric vehicles accounted for 7.2 percent of the market, Cox said.

Persons: Tesla’s, Elon Musk, Cox, Tesla Organizations: General Motors, Ford Motor, Hyundai, Kia, Cox Automotive Locations: United States

☆ Beware, Elon Musk — BYD just took its next step toward world domination
▼ + stars: | 2024-07-09 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Business Insider contacted BYD for comment but didn't immediately hear back. Turkey is part of the EU's Customs Union, and any BYD cars manufactured there could avoid the 17.4% additional tariff the EU slapped on BYD vehicles imported from China. Plans by Chinese EV giants BYD, MG, and Chery to build factories in Mexico have sparked concern among US officials over fears they could be used as a "backdoor" into the US market.

Persons: —, Elon, Mehmet Fatih, BYD, didn't, It's, Philip Nothard, Nothard, Elon Musk, Tesla Organizations: Service, Business, Union, EV, EU's Customs Union, BYD, Chery, Cox Automotive Locations: Turkey, Europe, China, Mexico, Germany

☆ NASCAR unveils electric SUV, but the race series isn’t giving gasoline the boot
▼ + stars: | 2024-07-06 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

But, if NASCAR is known for anything, it’s the loud V8 internal combustion engines that power the race car. That’s why NASCAR wants to make it very clear that gasoline-burning race cars are in no immediate danger of extinction. ABB is also heavily involved in Formula E, the electric racing series affiliated with Formula 1. With many changes over the years, modern NASCAR race cars bear little resemblance to the Toyotas and Chevrolets that typical Americans own. This time, designers wanted to maintain that resemblance between the race car and the vehicles fans drive, which are, increasingly, SUVs.

Persons: ”, Riley Nelson, NASCAR’s, John Probst, Michael Plaster, Nelson, we’re, Probst, “ Organizations: CNN, NASCAR, ABB, Formula E, Formula, National Association for Stock, Auto, Cox Automotive

☆ Ford sales edge 1% higher in the second quarter, led by trucks
▼ + stars: | 2024-07-03 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +1 min

Ford sales rose 1% during the second quarter over the year-earlier period, led by a 5% gain in truck sales, the automaker said Wednesday. Ford truck sales, which include pickups and vans, totaled 308,920 vehicles during the period, the company's best second-quarter performance for the category since 2019, Ford said. Sales of Ford electric vehicles totaled 23,957 during the second quarter, up 61%. GM said total sales of 696,086 made for its highest quarterly sales mark since the fourth quarter of 2020. Auto industry forecasters including Cox Automotive and Edmunds expect second-quarter sales industrywide to be roughly flat year over year.

Persons: Ford, Edmunds, — CNBC's Michael Wayland Organizations: Ford, Motors, GM, Auto, Cox Automotive Locations: Chicago , Illinois

☆ GM reports best U.S. quarterly sales since 2020
▼ + stars: | 2024-07-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

The Detroit automaker on Tuesday reported sales of 696,086 for the second quarter, up 0.6% from a year earlier and its highest quarterly units sold since the fourth quarter of 2020. Still, EVs made up only 3.2% of its total second-quarter sales. Sales of GM's full-size pickup trucks were roughly 229,000 during the second quarter, up about 6% from a year earlier and the best quarterly sales since 2021. GM's second-quarter sales are expected to slightly outpace the overall industry. Kia, which reports sales on a monthly basis, reported a 6.5% decrease in its June sales.

Persons: EVs, Edmunds, CDK, Jessica Caldwell, Caldwell Organizations: DETROIT —, Motors, Detroit, Auto, Cox Automotive, CDK, GM, Asbury Automotive Group, AutoNation Inc, Inc, Lithia Motors Inc, Sonic Automotive Inc, Automotive News, Toyota, Hyundai, Kia Locations: Lincolnwood , Illinois, DETROIT, North America

☆ Auto Sales Grew Slightly in Second Quarter
▼ + stars: | 2024-07-02 | by ( Neal E. Boudette | Jack Ewing | ) www.nytimes.com time to read: +1 min

Much of the auto industry, with the notable exception of Tesla, reported modest sales growth in the three months through June as high interest rates, high vehicle prices and uncertainty about the economy weighed on consumers. Sales in late June were also slowed by disruptions at car dealers stemming from a cyberattack on a company that supplies software and data services to dealerships. That’s a marked slowdown from the year’s first three months, when sales grew 5 percent. Slow growth is likely to continue through the end of the year, said Jonathan Smoke, Cox’s chief economist. “We probably can’t quite keep the pace of sales of the first half, but we aren’t expecting a collapse in sales.”

Persons: Tesla, That’s, Cox, Jonathan Smoke, ”, “ Organizations: Cox Automotive Locations: United States

☆ U.S. auto sales are expected to slow during the second half of 2024
▼ + stars: | 2024-06-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Cars sit on a Chevrolet dealership's lot on June 20, 2024 in Chicago, Illinois. DETROIT – U.S. auto sales through the first half of the year are expected to be up by 2.9% compared to a year ago, but there are concerns that the auto industry may not be able to continue the momentum during the last six months of the year. Vehicle inventory levels are growing, incentives are increasing and there's growing uncertainty during the second half of the year surrounding the economy, interest rates and U.S. presidential election, according to Cox Automotive. The auto data and research firm expects sales growth to slow during the second half of the year to end 2024 at 15.7 million units, roughly a 1.3% increase compared to 2023. And, unlike in recent years, growth is coming from commercial sales compared to more profitable sales to consumers.

Persons: we're, Cox, Jonathan Smoke Organizations: CDK, DETROIT, Cox Automotive Locations: Chicago , Illinois, United States, Canada, DETROIT – U.S

☆ VW updates 2025 Jetta to boost sales of the brand's entry-level car
▼ + stars: | 2024-06-25 | by ( Michael Wayland | ) www.cnbc.com time to read: 1 min

Volkswagen on Tuesday announced updates for its 2025 Jetta sedan to boost sales amid industry-wide affordability concerns. The entry-level version of the Jetta with an automatic transmission will start at $21,995 when it goes on sale, expected by the end of the third quarter, the company said. That model will replace the current lower-priced model of the Jetta, which has a manual transmission and has seen limited sales since many drivers only know how to drive vehicles with an automatic transmission. The changes come amid concerns around vehicle affordability and growing vehicle inventories following years of constraints due to the coronavirus pandemic and supply chain issues. The Jetta's new starting price compares with the average transaction price of a new car sold in May of $47,455, according to Cox Automotive.

Organizations: Volkswagen, Jetta, Cox Automotive

☆ ‘Months to correct, if not years’: Car dealerships and customers feel the impact as CDK outage drags on
▼ + stars: | 2024-06-25 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +7 min

“The financial impact it will directly have on us will take months to correct, if not years,” Callahan said. Tom McParland, the owner of Automatic Consulting, a national car buying service, said the outage was impacting customers because they have fewer dealers to choose from. “It limits the customer’s leverage.”Some dealers also can’t apply factory rebates without CDK’s software, so customers may miss out on money-saving deals. Under normal circumstances, the CDK software allows the dealership to register a vehicle almost instantaneously, but now the process faces heavy delays. He told CNN he was able to buy the car but was unable to sign the title.

Persons: Ryan Callahan, ” Callahan, CDK, Tom McParland, ”, McParland, Michael Deveney, “, ” Deveney, Katelyn Salvato, hasn’t, Salvato, …, We’ve, they’ve, Scott Campbell, Nicolas, CNN they’ve, Don Aycock, Robbie Jacob, Jacob, Tekion Organizations: New, New York CNN, Mazda, North America, Automatic Consulting, Midway Automotive, Massachusetts, of Motor Vehicles, Pride Motor Group, “, DMV, CNN, Massachusetts Department of Transportation, Capital City Buick GMC, Porsche, Buick, Diego —, Kia, Cox Automotive Locations: New York, Seekonk , Massachusetts, Lynn, Berlin , Vermont, Los Angeles, ”, Clay County , Florida, Diego

☆ Used car retailer CarMax posts 33% drop in first-quarter profit
▼ + stars: | 2024-06-21 | by ( ) www.cnbc.com time to read: +2 min

Customers shop for used vehicles at a CarMax dealership in Lexington, Kentucky. Better offers and trade-in deals on new vehicles have also kept potential buyers at bay from considering used vehicles. For the reported quarter, overall revenue came in at $7.11 billion, falling short of analysts' estimates of $7.21 billion. Cox said that retail used-vehicle prices have been consistently lower through the first five months of 2024 compared with a year earlier. CarMax shares shares slipped in and out of positive territory in premarket trading.

Persons: CarMax, Cox Organizations: Better, Cox Automotive Locations: Lexington , Kentucky

☆ Cost parity is driving used EV sales, says Cox's Erin Keating
▼ + stars: | 2024-06-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCost parity is driving used EV sales, says Cox's Erin KeatingErin Keating, Cox Automotives executive analyst, joins 'Power Lunch' to discuss the used EV market sales boom.

Persons: Cox's Erin Keating Erin Keating, Cox

☆ Fisker files for bankruptcy protection in wave of EV startups, moment of déjà vu for its founder
▼ + stars: | 2024-06-18 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Henrik Fisker stands with the Fisker Ocean electric vehicle after its unveiling at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA in Manhattan Beach, California. The new filing comes after the Fisker company failed to secure an investment from a big automaker to keep afloat. The automaker, unlike most of its peers, contracted a third-party manufacturer to build the Fisker Ocean crossover. Déjà vuFor Henrik Fisker, a renowned automotive designer credited with designing the BMW Z8 and Aston Martin DB9, it's déjà vu. His first namesake company – Fisker Automotive – filed for bankruptcy protection in 2013, shortly after he left the company.

Persons: Henrik Fisker, Patrick T, Fallon, Fisker, Nikola, Faraday, It's, Henrik Fisker's, Tesla, Sam Abuelsamid, Magna, Abuelsamid, Geeta Gupta, Gupta, Stephanie Valdez Streaty, Aston Martin, – Organizations: Manhattan, Los Angeles Auto, AFP, Getty, Lordstown Motors, Guidehouse, Software, U.S, Canadian, Apple, Adobe, SAP America, Manpower, Systems, CNBC, Cox Automotive, Fisker, Inc, BMW Z8, Aston, Aston Martin DB9, China's Wanxiang Locations: Manhattan Beach , California, EVs, U.S, North America, Europe

☆ At Stellantis investor day, cost cuts and China come into focus
▼ + stars: | 2024-06-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Massimo Pinca | ReutersDETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission. "We are not in the race to transition to EVs, but in a race to cut cost on EVs," Tavares said in late May during a Bernstein investor conference. The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030. Executives on Thursday will outline developments across Stellantis' regions and businesses, including its capital and operational disciplines, according to Stellantis CFO Natalie Knight. "The share price reaction to the [capital markets day] will likely be driven by how these short-term concerns are addressed.

Persons: Carlos Tavares, Massimo Pinca, Tavares, " Tavares, Stellantis, Ned Curic, EVs, I've, Natalie Knight, David Dee Delgado, Ram, China's, Patrick Hummel Organizations: Reuters DETROIT, Atlantic, PSA Groupe, Fiat Chrysler, Ram, CNBC, Amazon, New York, Auto, Reuters, Cox Automotive, UBS, GM, Ford Locations: Turin, Italy, U.S, Auburn Hills , Michigan, Manhattan , New York, China

☆ Renting an electric car for the first time? What could go wrong?
▼ + stars: | 2024-06-08 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —Lydia Wu had never driven an electric vehicle before she rented a car from Avis last February. Rental car companies may have overestimated their customers’ readiness for a switch, though. In my case, I’ve rented EVs from Turo, a peer-to-peer car rental platform that’s sort of like Airbnb but for cars. Customer service as keyJoulez, an EV rental company, rents its fleet through its own website as well as through Turo. But not everyone has such a bad time when renting an EV from a big rental car company.

Persons: Lydia Wu, Wu, EVs, Hertz, Stephen Scherr, it’s, ” Hertz, Doug Jensen, Tesla, ”, “, ” Wu, I’ve, Micah Bergdale, they’re, Joulez, Jay Waldron, Waldron, Kia Organizations: CNN, Avis, Cox Automotive, Tesla, General Motors, Hertz, Kia, EV, Turo, Hyundai Kona EV, National Locations: Kansas City , Kansas, Hertz, San Diego, it’s, Polestar, New York City, “, Turo, Georgia, Washington, DC

☆ GM has a secret to help sell its new EVs. It's Costco
▼ + stars: | 2024-06-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

Costco Auto has facilitated more than 500,000 vehicle sales annually over the past five years on average, according to Jay Maxwell, Costco Auto Program general manager responsible for strategic partnerships. GM declined to disclose how many Costco customers have purchased GM vehicles through the program. EV interestA growing number of vehicle sales made through Costco Auto are of electric vehicles, Costco said. In addition to GM, Costco Auto has partnered with Volvo, including its Polestar EV startup brand, Audi and others over the years. The Costco Auto Program was initially part of wholesale competitor Price Club, which merged with Costco in 1993.

Persons: Kena, Motors, it's, Marissa West, Michael Wayland, Jay Maxwell, Maxwell, Mary Barra, That's, Cox, Scott Mlyn, Julie Craig, –, Melissa Repko Organizations: Costco, Corbis, Getty, DETROIT —, Costco Wholesale, Detroit automaker, Costco Auto Program, EVs, Chevrolet, Chevrolet Blazer, GM North America, CNBC, U.S, Costco Auto, Canada, Ford Motor, Volkswagen, Brands, Lithia Motors, AutoNation, GM, EV, Volvo, Audi, CNBC Costco Auto, Cadillac, Industry, Cox Automotive, Dealers, New York Auto Show, Price Club Locations: Teterboro , New Jersey, CNBC, U.S, Detroit, Canada

☆ While new electric vehicle sales are slowing, used sales are ramping up
▼ + stars: | 2024-06-04 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —Sales of new electric vehicles have started to slow, but the opposite is happening with used EVs. The used car sales website Carvana saw its used EV sales more than double since last year. While increases in used EV sales are huge, they still make up a small portion of overall used vehicle sales. Used EVs still cost more, on average, than used gas-powered vehicles, but they cost a lot less than new EVs. While prices for new EVs average around $63,000, prices for used ones average around $36,000, according to Cars.com.

Persons: EVs, Carvana, wasn’t, Price, Cars.com, Truecar, “, who’ve, ”, Matt Jones, ” Manheim, “ We’ve, it’s, Grace Huang, we’ve, Tesla, Jones, Rebecca Lindland, Courtney Vaughn, “ I’m, Lindland Organizations: CNN —, EV, TrueCar, Cox Automotive, Cox, Cars.com, Chevrolet, Hyundai, Hyundai Kona EV, US Department of Locations: Georgia, New York, California, ”

☆ This Memorial Day kicks off a buyer’s market for new cars
▼ + stars: | 2024-05-24 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —Memorial Day weekend is shaping up to offer some of the best deals on new cars in years. The new car market is finally a buyer’s market again. The Volkswagen ID.4 and Kia Niro EV, for instance, are selling at average discounts of more than 13%, according to Edmunds.com. Vehicles from the outgoing 2023 model year now account for 6.8% of all new vehicles on dealers’ lots, according to Edmunds.com. Dealers for Stellantis brands – Dodge, Chrysler, Jeep and Ram – are offering the biggest discounts, according to Edmunds.com.

Persons: Covid, Cox, ”, Eric Barbosa, we’ve, “, Barbosa, –, Ram –, Edmunds, Ivan Drury, Brian Finkelmeyer, Brian Moody, Kelley Organizations: CNN, Toyota, Ford, Ford Bronco, Cox Automotive, GMC, Volkswagen, Kia Niro, Cavender Auto Group, Vehicles, Dealers, – Dodge, Chrysler, Jeep, Dodge, Lincoln Nautilus, Consumers, Honda, Kia, Autotrader Locations: San Antonio , Texas, Edmunds

☆ Why are hundreds of Teslas parked outside a dying shopping mall? A local news station solved the mystery.
▼ + stars: | 2024-05-14 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Read previewChesterfield Mall, set to shut down in October, has become an unexpected parking lot for hundreds of Tesla vehicles over the last few months. The Teslas, including Cybertrucks, parked outside of the Chesterfield, Missouri, shopping spot puzzled people passing by, especially as the number of EVs seemed to increase over time. According to the report, Tesla is storing unsold vehicles at the mall until it shuts down. Staenberg said Tesla has occupied the space for about six or seven months and can stay until the mall closes in October. Inventory lots aren't uncommonTesla isn't the only car brand to store its unsold vehicles outside a dealership.

Persons: —, Michael Staenberg, Tesla, Staenberg, Tim Lowe, KTVI, General Motors, ramping Organizations: Service, Business, Chesterfield Mall, Ford's, Plant, General, oversupply, Cox Automotive, EV Locations: Chesterfield , Missouri, Chesterfield, Ford's Michigan, Wayne, Grand Blanc , Michigan, Berlin

☆ The Chevy Malibu, the brand’s last sedan, will end production
▼ + stars: | 2024-05-09 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +1 min

CNN —The Chevrolet Malibu, the last sedan still sold by General Motors’ biggest selling brand, will end production this year, the company announced. Malibu production will end in November as the factory that builds it, the Fairfax Assembly Plant in Kansas City, Kansas, is reconfigured to build a new generation of the Chevrolet Bolt EV. Chevrolet stopped making its Mustang competitor, the Camaro, last year. The Malibu was introduced back in the 1960s as a more luxurious version of the Chevrolet Chevelle, called the Chevelle Malibu. The Malibu model line ended production in 1983 but was brought back again in 1997, and has been in production since then.

Persons: Ford, Jackson, Barrett Organizations: CNN, Chevrolet Malibu, General Motors, Fairfax Assembly Plant, Chevrolet Bolt, Motors, Chevrolet, Taurus, Malibu, Barrett, Getty, Cox Automotive, Honda Accord, Toyota Camry, Camry, GM Locations: Malibu, Fairfax, Kansas City , Kansas, United States

☆ I drove Hyundai's best-selling SUV and found it's a perfect hybrid for people who don't like hybrids
▼ + stars: | 2024-05-09 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +1 min

The Hyundai Tucson Hybrid is a compact crossover SUV that rivals competitors from Toyota and Honda. I enjoyed the Tucson Hybrid's stylish looks, new tech, solid performance, and fuel efficiency. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . During that time, the strikingly stylish Tucson has evolved into the brand's best-selling model, with nearly 210,000 units sold in 2023. It's also one of the most popular models in the segment, in its fourth generation that launched in 2021.

Persons: —, It's Organizations: Hyundai, Toyota, Honda, Tucson, Service, Cox Automotive Locations: Hyundai Tucson, Tucson

☆ No, the electric vehicle market isn’t crashing. It just needs recharging.
▼ + stars: | 2024-05-01 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

The second is the rate of EV sales growth is slowing, at least temporarily. The EV market is not collapsing, experts say, it’s just entering a new phase. Teslas still make up slightly more than half of all the electric vehicles sold in America, according to a report from Cox Automotive. But, just one year ago, Tesla produced more than 60% of all the EVs sold America. After having trouble cranking up production of its new generation of electric vehicles, GM seems to be accelerating.

Persons: it’s, ”, Coco Zhang, “, Teslas, Tesla, Cox, Ford, China’s Geely, Michael Lenox, Corey Cantor, Cantor, ” Cantor Organizations: New, New York CNN, International Energy Agency, ING, CNN, Cox Automotive, Ford, General Motors, Blazer, European Federation for Transport, Volvo, EV, China Passenger Car Association, University of Virginia, Bloomberg New Energy Finance, Vehicles, Chevrolet Bolt, Dodge Locations: New York, That’s, EVs, America, China, Europe, United States, ’

☆ Fisker's woes are another reason to consider leasing an EV over buying
▼ + stars: | 2024-05-01 | by ( Graham Rapier | ) www.businessinsider.com time to read: +4 min

There are several reasons to consider leasing an EV over buying. To be sure, the vast majority of EV owners don't have to worry about the maker of their vehicles imminently going out of business. AdvertisementUsed EV prices are a huge question markThere's limited data on EV resale prices. Pre-owned EV prices have fallen in line with new EV prices. EV leasing is growing in popularityLeasing an EV is no longer a niche concept.

Persons: —, Fisker, Cox, Polestar, Paul Jacobson Organizations: Service, EV, Leasing, International Energy Agency, American, Tesla, Cox Automotive, Electrek, Lease

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