Tag: EV

Nov 21

Hyundai Motor Group Surprisingly Beat GM, Ford At EV Sales In Q3 2023

With the third quarter of 2023 fully in the rearview mirror, we can assess the biggest winners in the U.S. race for electric vehicle supremacy. And from the data we’ve seen, it looks like the Hyundai Motor Group’s “hold the line” strategy on EVs is working out nicely—all while some rivals start to slow their roll a bit.

Following our battery electric vehicle sales analysis of the U.S. market concerning individual brands—including volume and share of BEVs in the total volume—today we will take a closer look at the larger automotive groups. The report includes 11 manufacturers for which consistent data are available: BMW Group (BMW and Mini, but without data for the Mini Cooper SE model), Ford Group (Ford and Lincoln), General Motors (the BrightDrop delivery van division, Buick, Cadillac, Chevrolet, GMC), Hyundai Motor Group (Hyundai, but without data for the Hyundai Kona Electric model, Kia and Genesis), Mazda, Mercedes-Benz (excluding its van division), Nissan, Subaru, Toyota Group (Toyota and Lexus), Volkswagen Group (Volkswagen, Audi and Porsche) and Volvo.

Newer companies like Tesla, Rivian, Polestar or Lucid do not break out sales by country or region. Some of the traditional brands also do not report BEV sales in the U.S. or do not sell any BEVs at all in the U.S. (Stellantis), thus they are excluded from the comparison.

BEV Sales By OEMs – Q3 2023

We estimate that the listed 11 traditional automakers represent more than 40 % of the total BEV sales in the U.S. Tesla controls more than half of the market, while the remaining 10% or so is distributed through the rest of the industry. We also anticipate Tesla’s share of the market will decrease and be less than 50% in the not-too-distant future—which is still a lot.

It’s especially notable and interesting that Hyundai Motor Group sold more all-electric cars—28,556 plus an unknown number of Hyundai Kona Electrics since those aren’t broken out—than any other automotive group, excluding Tesla. This is an outstanding result, far outpacing Ford (20,962) and General Motors (20,092), both of which were basically matched by the Volkswagen Group (20,295)—another surprise.

It’s also worth noting that Hyundai, Kia and Genesis together were able to become number one despite being almost completely excluded from the $7,500 federal tax credit incentive outside of leasing. Once the South Korean group starts local production of its mainstream models in the United States, the incentive should be available also when purchasing the car, which will make it an even stronger contender.

The Volkswagen Group is already producing its main model (ID.4) in the U.S., earning full eligibility for the federal tax credit, and this probably helped push it over 20,000 sales recently. Ford and General Motors had a hard time earlier this year, so their results are disappointing, but with a big potential to fight back in the coming quarters if the automakers don’t get too conservative on the EV front.

Meanwhile, let’s also note how strong the German premium brands are. BMW Group clocked 13,079 EV sales without the Mini brand, and Mercedes-Benz came in at 10,423 sales. For reference, Toyota Group barely exceeded 4,000, while Stellantis isn’t even in the game yet.

New All-Electric Car Sales In Q3 2023 – U.S.

  • Excludes Tesla and other OEMs for which data was not available
  • Hyundai sales without the Hyundai Kona Electric model
  • BMW Group sales without the Mini Cooper SE

In terms of how EVs stack up in these companies’ total sales, we can see a very strong position for the foreign automakers—mostly the premium ones, like Mercedes or BMW Group.

But for now, this metric is a bit skewed. Not all brands within particular groups are even offering BEVs, which lowers the average of the large groups compared to single-brand automakers.

All-Electric Car Share In Total New Sales In Q3 2023 – U.S.

Here is a tree map version of the chart:

  • Excludes Tesla and other OEMs for which data was not available
  • Hyundai sales without the Hyundai Kona Electric model
  • BMW Group sales without the Mini Cooper SE
  • Mercedes-Benz (excluding vans)

BEV Sales By OEMs – Q1-Q3 2023

Year to date, this Q3 result means Hyundai Motor Group is the largest automaker after Tesla for all-electric car sales volume in the U.S. The result is at least 61,865 sales.

GM is noticeably behind with 56,414 units. A big surprise is that the Volkswagen Group with 49,995 units is ahead of Ford at 46,671, which in the previous years outlined a plan to be the no. 2 electric automaker after Tesla. If that happens, it’s not gonna be in 2023.

Next, we can see the BMW Group (at least 31,043) and Mercedes-Benz (29,691). The German duo of premium brands, when counted together, would be almost as big as the Hyundai Motor Group.

We can guess, that Rivian also sold at least 30,000 all-electric vehicles during the first three quarters, because of the 30,240 new registrations during the period, according to Experian (via Automotive News).

Nissan recorded 15,503 sales, Volvo 10,843, while Toyota and Lexus together netted almost 9,000.

All the numbers are overshadowed by close to a half million Tesla EVs sold this through Q3.

New All-Electric Car Sales In Q1-Q3 2023 – U.S.

  • Excludes Tesla and other OEMs for which data was not available
  • Hyundai sales without the Hyundai Kona Electric model
  • BMW Group sales without the Mini Cooper SE

Now, let’s take a quick look at the share of all-electric cars in the total sales. The market average for non-Tesla vehicles is probably around four % (potentially closer to three % in the case of the traditional brands.)

It means that only a few traditional OEMs are pushing BEVs really hard: Mercedes-Benz, Volvo, BMW Group and Volkswagen Group, with Hyundai Motor Group as the last one, noticeably above average.

These automotive groups are either directly premium and luxury ones, or include premium and luxury brands. In the case of the Hyundai Motor Group, the relatively high share of BEVs in the total sales appears to be a result of the company’s strategy to seriously invest in the all-electric future.

Ford and GM’s results are average, but let’s note the challenges both companies experience and that some of their brands are not yet offering BEVs. On top of that is a large share of pickup trucks, which electrification barely started in general.

All-Electric Car Share In Total New Sales In Q1-Q3 2023 – U.S.

Here is a tree map version of the chart:

  • Excludes Tesla and other OEMs for which data was not available
  • Hyundai sales without the Hyundai Kona Electric model
  • BMW Group sales without the Mini Cooper SE
  • Mercedes-Benz (excluding vans)

This year, all-electric vehicle sales in the U.S. should easily exceed one million units for the very first time. Some 850,000 units were registered through September (including almost 490,000 or 57% for Tesla), according to Experian.

Nov 21

Rimac Nevera Achieves 171 MPH in Reverse: A Record-Breaking Feat

While scrolling through automotive updates, I nearly spilled my coffee when I discovered that Rimac had set a jaw-dropping record: driving their Nevera electric supercar at 171 MPH in reverse. This extraordinary achievement raises numerous questions: Did they alter the controls and seating, or did the driver rely on a challenging over-the-shoulder view? Was the aerodynamics team on edge, and who even trains for such a feat? Fortunately, I delved into these queries so you can enjoy the full story behind this record-setting maneuver.

Rimac Nevera’s 171 MPH Reverse Record

One intriguing aspect of the Rimac Nevera’s record is its ability to reverse at high speeds, thanks to its electric motor, which can perform just as efficiently in reverse as it does forward. Unlike traditional combustion engines that are restricted by gear limitations, the Nevera’s performance is unbounded by such constraints. Rimac’s Chief Program Engineer, Matija Renić, noted that while the idea of a high-speed reverse run seemed implausible at first, it was eventually realized through innovative engineering and bold experimentation.

Challenges and Achievements

Achieving this record was no small feat, as the Nevera was not initially designed for high-speed reverse driving. The team had to overcome significant challenges related to aerodynamics, stability, and cooling, which were not optimized for reverse travel. Despite these hurdles, simulations suggested a potential to exceed 150 MPH, leading to a successful attempt that surpassed the previous record of 102.58 MPH, which had stood for 22 years.

The Nevera’s Remarkable Performance

Rimac’s achievements don’t end with the reverse speed record. In May 2023, the Nevera shattered 23 performance records in one day, including acceleration and braking records. It also set new benchmarks at the Nürburgring and Goodwood Festival of Speed, demonstrating the supercar’s exceptional capabilities and Rimac’s innovative spirit.

The Experience of Driving Backward

Rimac Test Driver Goran Drndak described the challenge of driving at such high speeds in reverse, highlighting the unusual experience of watching the world zoom past through the rear-view mirror. The sensation was akin to heavy braking, requiring precise steering and concentration to maintain balance. Despite the unconventional nature of the attempt, the Nevera successfully achieved a record-breaking speed of 171.34 MPH in reverse.

With such impressive accomplishments, one can only wonder what groundbreaking feats Rimac has planned for the future.

Nov 21

Drive Car of the Year 2024: Top Urban Electric Vehicles Under $100K

Exploring the Best Urban Electric Vehicles for 2024

The Drive Car of the Year 2024 awards highlight the top contenders for the Best Urban Electric Vehicle under $100K, celebrating innovation and efficiency in electric mobility. This category showcases electric cars that excel in city driving, offering both practicality and cutting-edge technology without exceeding the $100,000 mark.

Criteria and Contenders for the Award

Eligible vehicles for this category are evaluated based on their performance, range, and suitability for urban environments. The selected cars stand out for their eco-friendly features, advanced driver-assistance systems, and overall value, making them ideal choices for city dwellers seeking sustainable and stylish transportation solutions.

Nov 20

Tesla’s New V4 Supercharger Revolutionizes EV Charging with Faster Battery Top-Ups

Tesla Expands V4 Supercharger Network Across the U.S.

Tesla is rapidly advancing its V4 Supercharger network across the United States, following its debut in Europe earlier this year. The new V4 dispensers, now appearing in locations like Oregon, Nevada, and Alabama, have recently been spotted in Atlanta, Georgia, by YouTuber Kim Java. This rollout represents a significant step forward in addressing the challenges faced by electric vehicle (EV) owners, particularly in terms of charging speed and convenience.

Enhanced Features and Future Capabilities

The V4 Superchargers come with several improvements over previous models, including an integrated Magic Dock (or CCS-1 adapter), a digital credit card reader, and a more streamlined design with a 10-foot cable—3.5 feet longer than those on V3 models. Although currently drawing power from V3 cabinets, the new dispensers are rated at 1,000 volts and 615 amps, hinting at potential future capabilities of 615 kW. This advanced technology could dramatically enhance charging efficiency, supporting high-voltage battery systems found in vehicles like the Hyundai Ioniq 5 and Audi E-Tron GT.

Impact on EV Charging Efficiency

In practice, the V4 Supercharger has already shown promising results. During a recent test, it delivered 255 kW, increasing a Tesla Model 3’s battery from 20 to 60 percent in just 10 minutes. As Tesla continues to refine these chargers, we anticipate further reductions in wait times for EV owners, paving the way for more widespread adoption of electric vehicles.

Additional Advancements

The Atlanta V4 Supercharger also features a dedicated space for trailer charging and uses immersion cooling to manage heat more effectively. This innovation supports the Tesla Semi, which requires up to 1,000 kilowatts of power. With these advancements, Tesla is setting new standards in EV charging infrastructure, promising a faster and more efficient future for electric vehicle users.

Nov 20

Kia’s Upcoming EV3 Electric SUV: A More Affordable and Compact Alternative to the EV9

Exciting New Addition to Kia’s Electric Lineup

Kia is preparing to launch a new, more affordable electric SUV, the EV3, which will be a smaller sibling to the flagship EV9. Scheduled for release next year, this new model aims to offer the latest in electric vehicle technology at a lower price point. The EV3 promises to bring Kia’s innovative design and efficiency to a broader audience, making electric driving more accessible.

What to Expect from the Kia EV3

The EV3 will feature a compact design that maintains the advanced technology and sleek aesthetics found in the EV9. It is expected to provide a cost-effective option for consumers seeking the benefits of an electric SUV without the higher price tag. As anticipation builds for its debut, the EV3 stands to enhance Kia’s reputation in the electric vehicle market with its blend of affordability and innovation.

Nov 20

2025 Cadillac Optiq: Cadillac’s Most Affordable EV Yet

Introducing Cadillac’s Most Accessible Electric Vehicle

Cadillac has officially announced the Optiq as its most budget-friendly electric vehicle in North America, marking a significant expansion in their EV offerings. Positioned below the Lyriq, the Optiq is designed to make Cadillac’s luxury electric experience more accessible to a broader audience. With this strategic move, Cadillac aims to cater to those who seek high-end features and performance at a more affordable price point.

What to Expect from the Cadillac Optiq

The 2025 Cadillac Optiq promises to bring the brand’s signature luxury and cutting-edge technology to a wider market. This new addition will offer advanced electric powertrain options and a host of premium features, providing a blend of efficiency and opulence. As Cadillac’s entry-level EV, the Optiq will pave the way for future electric models, making luxury more attainable while maintaining the high standards the brand is known for.

Nov 20

Understanding the Differences Between EPA and WLTP EV Range Ratings

How EPA and WLTP Ratings Differ

Electric vehicle (EV) enthusiasts often encounter two different range figures depending on where they are: the Environmental Protection Agency (EPA) rating in the U.S. and the Worldwide Harmonized Light Vehicle Test Procedure (WLTP) rating in Europe. These discrepancies can be confusing, especially since the same vehicle might show different ranges on these two scales. For instance, the second-generation Nissan Leaf has an EPA rating of 151 miles on a full charge, while its WLTP rating is 170 miles, showcasing a notable difference in how each system evaluates range.

Testing Procedures and Their Impact

The main difference between the EPA and WLTP ratings lies in their testing methods. The EPA performs its tests under more controlled conditions with a temperature adjustment that can affect results, typically reflecting a more conservative estimate of real-world driving conditions. On the other hand, the WLTP uses a more dynamic cycle that may yield higher range figures by including higher speeds and a variety of driving conditions. This contrast helps explain why the WLTP often provides a more optimistic range compared to the EPA.

Nov 20

Are Big Automakers Really Losing Money on Every EV Sold?

How do you want to look at the electric vehicle picture? If we look at just the EV portion of some of the largest automakers in the world, we see this sector loses money on every model sold. Still, despite these losses, most automakers, such as Ford, Stellantis, and GM, post record car sales profits year after year. Does this mean they’re really losing money on every EV sold?

Reports are that automakers like Ford lose money on every EV sale

When automakers break down the numbers to find places to cut losses, the EV sector would be dropped like a bad habit if it wasn’t so new. When automakers change generations of a model, that first model year typically loses hundreds of thousands of dollars until the vehicle recoups the investment money, but electric cars offer a unique challenge.

Ford reported losing $1.3 billion in its third quarter this year, which is a more significant loss than the $1.1 billion lost during Q3 2022. The Autopian reports this could translate to an entire year loss of $4.5 billion for the EV section of Ford. This is likely because electric vehicles are developing and evolving too quickly for sales to absorb the investment costs.

Why could big car companies accept this?

Some big car companies entered the EV sector knowing they would lose money on every sale. In fact, Ford estimated losses for every Ford F-150 Lightning sold, but those losses were actually greater than expected. Chevy initially deleted the Bolt because it wasn’t profitable but brought it back. Stellantis is ready to go full speed ahead in the electric vehicle sector, with the Ram 1500 Revolution EV pickup truck heading to market next year.

Some large auto companies aren’t quite as aggressive as the Detroit Big Three. Toyota is hesitant to enter the market as aggressively, holding back to see where the electric vehicle industry goes. Ford has also since slowed its movement toward adding more electric cars, looking for ways to make EVs profitable before debuting more nameplates.

Most large car companies can accept predicted losses in the EV market because it’s growing, and profits are still being made in other areas. According to an NPR interview between Ayesha Rascoe and Camila Domonske, both GM and Stellantis report larger-than-expected profits overall, despite the negative cost of EVs.

Is everyone losing money on electric cars?

Not all car companies are losing money in the electric vehicle sector. It seems that EV-only companies, such as Tesla and BYD, have reported impressive profits. In fact, Tesla recently lowered the price of its electric cars, making them much more affordable and forcing other automakers to lower prices on their electric vehicles to compete.

Traditional automakers could eventually find a way to turn profits on electric vehicles if a cost-saving breakthrough is made in the EV market. Some expect solid-state batteries to be that breakthrough, enabling traditional brands to lower the cost of making batteries.

Until cost-saving technology is available, traditional automakers must continue to spend money and absorb the losses to stay competitive with names like Tesla, Rivian, and BYD. The name recognition of Ford, Chevrolet, Cadillac, Ram, and Dodge should bring consumers to the Detroit Big Three before an EV-only automaker, but only if the traditional brands continue to expand their EV lineups and offerings.

Nov 20

BYD Aims to Challenge Tesla’s Dominance in China’s Luxury EV Market with New Models

BYD’s Ambitious Move to Compete with Tesla in China’s Premium EV Market

BYD, recognized as the leading global electric vehicle manufacturer, is set to shake up the luxury EV sector in China with its latest model releases. This strategic move is aimed at challenging Tesla’s stronghold on the premium EV market, adding significant heat to the competition in the world’s largest automotive arena. Analysts anticipate that these new BYD models will not only elevate the brand’s profile but also potentially shift market dynamics.

A New Era of Competition in China’s Auto Industry

The introduction of BYD’s advanced EV models highlights a growing trend of competitive innovation in China’s automotive industry. As both companies vie for market share, consumers are likely to benefit from enhanced vehicle options and improved technological advancements. This rivalry underscores the rapid evolution within the electric vehicle market, as manufacturers strive to offer superior performance, luxury, and sustainability in their products.

Nov 20

U.S. Autoworkers Conclude Strike with Enhanced Pay and Unionization Rights at EV Battery Factories

Autoworkers Triumph in Landmark Negotiations

U.S. autoworkers have successfully concluded their strike, securing substantial improvements in compensation and benefits amidst the automotive industry’s shift to electric vehicles. This resolution dispels concerns that the rise of electric vehicles could undermine worker conditions. The recent agreement, ratified overwhelmingly, marks a significant victory for the workforce.

New Contracts Set Precedents for Future

The United Auto Workers union announced that the new contracts with major automotive manufacturers include unprecedented terms that not only increase wages but also bolster job security and union presence in electric vehicle battery production facilities. These developments are seen as crucial steps in ensuring that the transition to electric vehicles includes fair labor practices and sustained economic benefits for autoworkers.

Enhancing Labor Conditions in the EV Era

This breakthrough in negotiations is expected to set a new standard in the industry, potentially influencing how companies manage the shift towards greener technologies. The focus now turns to the implementation of these contracts and their long-term impact on the industry’s workforce stability and the broader push towards electrification in the U.S. automotive sector.