Author: EVAI
Nio launches Onvo brand with L60 crossover
Chinese EV manufacturer Nio still only sells a fraction of the vehicles that the likes of Tesla and BYD do, but it’s already ready to introduce two new brands, Onvo and Le Dao, to help boost sales by offering EVs at lower price points than its own premium offerings. Onvo is aimed at families and revealed its first model, the L60 compact crossover…
BYD Shark plug-in pickup, Kia EV6 update, US EV market share: Today’s Car News
EV sales are up but market share is down. The Kia EV6 shows off a facelift and more range. And BYD drops a Shark of a plug-in hybrid pickup south of the border. This and more, here at Green Car Reports.
The same morning the Biden administration hiked tariffs vs. Chinese EVs in an effort to keep them out of the market, China’s BYD Shark plug-in hybrid pickup made its debut in Mexico. As the first completely new BYD to debut outside China, the sub-$55,000 pickup with 62 electric miles provided a political statement even if not intended.
The 2025 Kia EV6 has made a global debut with a larger battery pack and potentially a range boost of 10% or more—plus styling updates that appear to bring this trendsetting electric crossover in alignment with details from Kia’s latest EV9 and upcoming EV3.
And in Q1, U.S. EV market share fell, while EV sales levels remained significantly up on a year-over-year basis. With that as the top-level takeaway of an update from the DOE’s Energy Information Administration, the backstory suggested some complicated dynamics, as a glut of luxury EVs sits in a sagging luxury market, affordable EVs remain scarce as affordability challenges remain, and Tesla managed only slight U.S. sales gains.
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EV market share fell in Q1, in a dearth of affordable models
U.S. EV and hybrid sales fell in the first quarter of the year, according to a Tuesday update from the Department of Energy’s Energy Information Administration (EIA).
Sales of battery electric vehicles (full EVs) dropped to 7.0% of overall light vehicle sales in the first quarter of 2024 from 8.1% in the previous quarter. Nationally, sales of hybrids, plug-in hybrids, and EVs combined dropped to 18.0% of the market, versus 18.8% in the previous quarter.
As the EIA reports—in a trend that parallels a California EV trend for the quarter—EV sales by actual volume were actually up 7% in the first quarter of 2024 versus the same quarter in 2023. But to add another splash of context, that was after 13 consecutive quarters of double-digit percentage gains.
EIA update on EV and hybrid sales – May 2024
Multiple factors may be at play. Mass-market EV sales were way down, by 17.9%, and that appears to be related more to what’s available in the market than to demand. For instance, the Chevrolet Bolt EV was out of production in Q1 and disappearing from dealer lots, while GM’s next-most-affordable Chevy Equinox EV hasn’t yet arrived; and Nissan has slimmed down the Nissan Leaf lineup to just two trims.
2023 Nissan Leaf
On a transaction basis, the EIA pointed to Cox Automotive data suggesting that EV transaction prices remain about $6,900 higher than the average vehicle price across the entire market. The number of vehicles eligible for the $7,500 EV tax credit that can make up for some or all of that difference is more limited than it was last year.
Meanwhile, there was a decline in the whole light-duty vehicle market, led by a sag in luxury-vehicle sales, at a time when eight out of 10 EV sales are luxury models. Luxury sales reached 18% of the new-vehicle market in 2023, but in Q1 they dropped to 16%. It’s a trend that’s difficult to extricate from the perfect storm of high interest rates and high sticker prices, after several years of nearly across-the-board price hikes. The agency notes that overall mass-market vehicle sales remain at about 10% below pre-pandemic levels, while the luxury sector bounced back two years ago.
2024 Tesla Model Y. – Courtesy of Tesla, Inc.
Modest Tesla sales gains in the U.S. year-over-year for Q1—of about 4% according to Automotive News, based on registrations—weren’t enough to offset either of these factors. It should be noted that the EIA based these data trends on Ward’s Intelligence data, which also draws from registration data.
In the U.S., the vast majority of EVs have effectively been priced and positioned as premium offerings if not luxury vehicles. This isn’t the case in the rest of the world, and if automakers want to get serious about EV sales in the U.S.—and make EV sales gains—low-priced EVs are the way to go.
Cuda nameplate retrademarked by Stellantis, possibly for concept car
Stellantis has re-upped the trademark for a classic muscle car nameplate. On April 30, the automaker filed an application with the United States Patent and Trademark Office (USPTO) for a new trademark on the Cuda nameplate. The application covers “motor vehicles, namely concept motor vehicles,” hinting that even if the Cuda doesn’t return as a…
Lamborghini Revuelto, Yenko/SC Corvette: Car News Headlines
Lamborghini recently teamed up with fellow Italian company Sonus Faber on the development of a premium audio system for the Revuelto. The new audio system was added to the V-12 plug-in hybrid supercar’s options list in May, and includes seven speakers in total, including one mounted in the center of the dash. New Jersey’s Specialty Vehicle…
Guest commentary: It’s time for automakers to push back against China’s battery supply chain dominance
The most prolific material in an average EV battery is graphite. Unfortunately, graphite is also the material that China has the strongest hold over.
2025 Kia EV6 bows with bigger battery, styling updates
Kia this week revealed an updated version of its EV6 electric crossover for its home market of South Korea. The same changes are likely to be applied in the U.S. for the 2025 model year.
The biggest change is a new 84-kwh battery pack, replacing the 77.4-kwh pack that has been the largest available in the EV6 since its 2022-model-year launch. This may boost range by 10% or more—perhaps past the current peak of 303 EPA miles for the lineup to something potentially exceeding 330 miles.
The exterior gets a mild refresh. New headlights with a design Kia calls the Star Map are packaged with more subtle changes on other parts of the car, including a new graphic for the curved light bar of the taillights.
Updated Kia EV6 (Korean spec)
Inside, the EV6 features a new steering wheel and fingerprint authentication system. Kia added a digital rearview mirror and head-up display as well, and also made the B-pillars thicker to increase rigidity.
No powertrain changes are expected, meaning the lineup will include a single-motor rear-wheel drive powertrain rated at 225 hp and a dual-motor all-wheel drive option making 320 hp. Expect the sportier EV6 GT to return as well with 576 hp.
The EV6 is closely related to the Hyundai Ioniq 5, sharing that crossover’s E-GMP platform. It got off to a more solid start in the U.S. as Kia simply made it easier to buy the EV6—although now Hyundai has caught up on the dealership front.
Updated Kia EV6 (Korean spec)
U.S. pricing will be announced closer to the updated EV6’s launch in this market, timing for which has not been announced. Kia did lower the price a bit for 2024, which saw the return of the lower-cost EV6 Light Long Range.
Kia recently confirmed a May 23 debut for its smaller EV3—which, it appears, borrows some design details from both the EV6 and the larger EV9.
Column: Toyota spent a bunch to build batteries. It could have spent more to make its own electricity
Toyota is spending $13.9 billion to build EV batteries in rural N.C. It should have spent more to add on-site solar, wind generation from the get-go.
8 automakers misled customers about giving driver data to police, lawmakers say
The lawmakers’ findings raise questions about whether automakers can be held to account for departing from promises made about user privacy.