ralfy wrote:Around 70 pct of human beings live on less than $10 daily and want to earn more. The other 30 pct are relying on them to earn and spend more ...
theluckycountry wrote: Somehow I don't see the battle fields of the future being populated by electric tanks
EVs can be an important part of the fight against the climate crisis, but America's EV plan needs to lean into what these cars do well: short daily trips that can be taken in small, affordable cars.
what these cars do well: short daily trips that can be taken in small, affordable cars
Detroit finds itself selling big, expensive cars nobody really wants
mousepad wrote:Kub, did you read this?what these cars do well: short daily trips that can be taken in small, affordable cars
Peak EV, we have reached it boys and girls, the music has stopped and everyone is scrambling for the chairs, or the exits in this case. As always, the lowly consumer will be the big loser, from the aging ever depreciating golf cart in their driveway to the losses they experience in their pension from the ongoing collapse of the EV makers.
The TSLA share price peak was in Nov 2021 @ $380. Today the price per share is $230 and trending down. A 40% loss in a time of rampant inflation! Oh and Tesla is the bright spot in the EV complex, many have gone to zero.
As usual, you are making up BS. EV sales continue to break records:theluckycountry wrote:Sorry Adam_b, Sorry kub, PeakEV, come and gone, as predicted.
Americans Buy Nearly 1.2 Million Electric Vehicles to Hit Record in 2023, According to Latest Kelley Blue Book DataAs the shift toward an electrified future continues, a record-breaking nearly 1.2 million U.S. vehicle buyers chose to go electric last year. Electric vehicles (EVs) represent the fastest-growing car sales category, holding a 7.6% share of the total U.S. vehicle market in 2023, up from 5.9% in 2022.
Specifically, in Q4 2023, EV sales hit a record for both volume and market share, with sales reaching 52% higher than in the fourth quarter of 2022.
Car and Driver: EV Sales Are Just Getting StartedLast year, U.S. sales of EVs were the highest ever, both in sheer numbers and as a percentage of the overall new-car market. Global sales: ditto. The EV Sales Tracker from EVadoption estimates nearly 1.2 million battery-electric vehicles and another 190,000 plug-in hybrids were sold in 2023, totaling 1.36 million vehicles. That's 8.8 percent of the total of 15.5 million, per Wards Intelligence—and it represents EVs' highest-ever share of new-car sales.
Moreover, 2024 is expected to set another new record for volume of EVs sold and their share of the total market. Colin McKerracher of Bloomberg projects 2024 EV sales in the U.S. at just under 1.9 million units, making up 13 percent of new-car purchases. This year should see fewer of the supply constraints that hobbled availability over the last four years.
More new vehicles with plugs are on sale in the U.S. this year than ever before. They'll sell better this year than they did last year.
January 2024 Breaks Global EV Sales RecordGlobal EV Sales Break Record For January
Rho Motion crunched the numbers and came up with a record breaking sales pace of 660,000 electric vehicles sold globally in January. That was 12 months ago, back in January 2023. This year’s January EV sales blew past that mark by 69% for a total of more than 1 million.
Global EV sales increase in 2024 YTD, BYD world’s top exporterCharles Lester, Leading EV Data Analyst at Rho Motion, said: “We’re encouraged to see the global EV sales steadily increasing year on year as the global market has grown by 32% so far in 2024. Relatively new regions to EVs such as Latin America and the SE Asia peripheries are rapidly expanding and we can expect these to be the fastest growing markets for some time to come.”
China was the strongest region for sales growth with the US and Canada not far behind. In 2024 year-to-date, China recorded a 34% increase in sales. China’s growing dominance in the EV space was highlighted by BYD overtaking Volkswagen as the country’s top-selling brand.
kublikhan wrote:As usual, you are making up BS. EV sales continue to break records:theluckycountry wrote:Sorry Adam_b, Sorry kub, PeakEV, come and gone, as predicted.As the shift toward an electrified future continues, a record-breaking nearly 1.2 million U.S. vehicle buyers chose to go electric last year. ...
Specifically, in Q4 2023, EV sales hit a record for both volume and market share...Last year, U.S. sales of EVs were ...
Moreover, 2024 is expected to set another new record for
In Austrian business cycle theory, malinvestments are badly allocated business investments resulting from artificially low interest rates for borrowing and an unsustainable increase in money supply.
January 2024 Breaks Global EV Sales RecordGlobal EV Sales Break Record For January
Rho Motion crunched the numbers and came up with a record breaking sales pace of 660,000 electric vehicles sold globally in January. That was 12 months ago, back in January 2023. This year’s January EV sales blew past that mark by 69% for a total of more than 1 million.
Tesla Rules In Europe — Europe EV Sales ReportSome 202,000 plugin vehicles were registered in February in Europe — which is +10% year over year (YoY).
Half of the European car market is already electrified, in some way. But for some to grow, others must come down, and diesel (-5% YoY) is the starkest example. Diesel vehicles had only 12% of the European passenger car market in February, a far cry from the 50% share it had in 2015 or the 55% average it experienced before that. At this rate, in this category, diesel will be dead by 2027, well before the 2035 ICE ban.
Global EV sales increase in 2024 YTD, BYD world’s top exporterMarch 13 - 2024- Charles Lester, Leading EV Data Analyst at Rho Motion, said: “We’re encouraged to see the global EV sales steadily increasing year on year as the global market has grown by 32% so far in 2024. Relatively new regions to EVs such as Latin America and the SE Asia peripheries are rapidly expanding and we can expect these to be the fastest growing markets for some time to come.”
China was the strongest region for sales growth with the US and Canada not far behind. In 2024 year-to-date, China recorded a 34% increase in sales. China’s growing dominance in the EV space was highlighted by BYD overtaking Volkswagen as the country’s top-selling brand.
Electric vehicle sales in India surged 42% YoY in FY2024Annual electric vehicle sales in India touched 1.67 million units in FY 2024, 42% up year-on-year.
Outlook
The report stated the EV sales in India grew tremendously in the last few months of FY2024. It expects this momentum to continue as the government has lined up EMPS (Electric Mobility Promotion Scheme) starting from April 1, 2024, along with FAME-III, which will soon be rolled out to accelerate EV adoption with suitable incentives across categories.
Chinese Electric Cars Flood The Brazilian Automotive MarketMarch 22, 2024 - Chinese automakers are making their way into Brazil’s electric car market, which has been dominated by American, European, and Japanese companies. BYD and GWM, China’s two largest electric car manufacturers, have announced investments of over $2.5 billion to begin local production in Brazil this year. These two companies will be utilizing former Ford and Mercedes factories that recently left Brazil. The Brazilian market will now have access to more affordable and simpler electric and hybrid cars from China, competing with Japan and Europe. According to the Brazilian Electric Vehicle Association, sales in the segment are expected to grow by more than 90% in 2023 compared to the previous year. Ricardo, who is also the president of the association, believes that the Brazilian market will continue to grow this year.
Brazil’s two largest car manufacturers, Volkswagen from Germany and General Motors, have also announced new investments worth billions of dollars. Volkswagen announced that it would invest $1.8 billion to modernize its facilities and start production of hybrid and electric cars in Brazil, while General Motors pledged to invest $4 billion in its production facilities in Brazil.
Hyundai IONIQ 5 sets new US sales record in March as EV sales surge 100%Hyundai’s IONIQ 5 just set a new March and Q1 sales record as EV sales climbed 100% last month. The company had its best-ever first quarter and March sales as demand for its EVs remains high.
Hyundai IONIQ 5 EV sets new March, Q1 US sales record
Hyundai continues building momentum in the US with its lineup of dedicated EVs, including the IONIQ 5, IONIQ 6, and Kona EV.
Despite rising competition and interest rates, the automaker achieved record-breaking March and Q1 sales. “Demand for our vehicles, especially EVs, remains high.”
kublikhan wrote:As usual, more BS. EV sales are up globally. US? EV Sales are up. Europe? EV Sales are up. Latin America? EV Sales are up. India? EV Sales are up. I know you have trouble with reading comprehension, but included in my previous posts were figures for this year. So I will post it again, plus other articles [b]
S&P: 2024 EV forecast: the supply chain, charging network, and battery materials marketS&P Global Mobility's 2024 global sales forecast projects battery electric passenger vehicles to be on track to post 13.3 million units worldwide for 2024 - accounting for an estimated 16.2% of global passenger vehicle sales. For reference, 2023 posted an estimated 9.6 million BEVs, for 12% market share.
$210 Billion of Announced Investments in Electric Vehicle Manufacturing Headed for the U.S.As the electric vehicle (EV) market continues to heat up, automakers are going all in on electrification. Vehicle manufacturers and battery makers plan to invest $860 billion globally by 2030 in the transition to EVs. Nearly a quarter, $210 billion, is expected to be invested in the United States, more than in any other country.
Major markets are forecast for most of this volume, though smaller markets will also see modest increases. Forecasted BEV share by region is as follows:
Global EV market forecasted to reach 17.5 million units with solid growth of 27% in 2024Canalys forecasts light vehicle sales in Greater China to grow 1% to 22.7 million units in 2024. EVs are projected to reach 9.1 million units, taking up 40% of total sales. Drops in battery cost will further drive BEV sales in the compact and subcompact vehicle market.
“Appealing new EVs were launched at the end of 2023, setting the stage for 2024,” noted Alvin Liu, Analyst at Canalys. “EVs are the core growth driver for the vehicle market in Greater China. EVs from Chinese carmakers, which are expected to take up 78% of the market in 2024, are pulling ahead, widening the user experience gap compared to internal combustion engine (ICE) vehicles. The latest battery technologies and improving infrastructure address charging anxiety. The formation of charging ecosystems, such as NIO’s Battery Swap Alliance, Mercedes-Benz and BMW’s Super Charging Network and Lotus’s Flash Charging Alliance, will further grow BEVs’ market share. However, maintaining a growth rate of over 50% this year is impossible as EVs have reached a critical mass and convincing the remaining EV skeptics will be a growing challenge.”
Canalys predicts that the 2024 European light vehicle market will sustain a growth of 2% to 3%, with EVs taking up 24.2% of the market share, shipping 3.9 million units. “Europe’s EV market has started transitioning from policy-driven to product-driven in 2024, a necessary phase in the industry’s transformation,” stated Jason Low, Principal Analyst at Canalys. “The subsidy restriction will slow down EV demand and the looming price war will threaten not just EV goals but carmakers’ electric transition confidence. To counter such challenges, carmakers in Europe are set to make the EV market more affordable by releasing new models such as the KIA Niro EV, BMW IX2, Renault 5, Citroen e-C3 and others. European carmakers should be aware of Chinese carmakers eyeing Europe, as they are expected to deploy similar product and pricing strategies while continuing their efforts to establish local production in the region, like that of BYD, SAIC and other positive OEMs.”
Canalys predicts that in 2024 the North American EV market will grow 26.8% to 2.2 million units but with the lowest EV penetration at 12.5%, compared to Greater China and Europe. “In 2024, EV product range will expand, covering mini vehicles, full-size SUVs and pickups, effectively broadening EVs’ target user range, supported by a unified charging standard as more OEMs join Tesla's North American Charging Standard (NACS), addressing some of the EV sales obstacles.”
How US EV investments have rocketed in a year – in numbersManufacturers have invested billions in US EV and EV battery factories in the last year – here’s how it breaks down.
US EV investments
Since President Joe Biden signed the IRA into law, manufacturers have made more than $92.4 billion of concrete investments in EV and EV battery factories in the US.
And in the same time frame, more than 80,000 new direct US EV-related jobs have been announced. Some of these new jobs are for facilities that are already operating, and others are based on company announcements and are in the pipeline.
EDF researchers also noted rapid growth in US production capacity over the last six months. By 2026, US EV manufacturing facilities will be able to make about 4.7 million new passenger EVs annually – that represents 36% of all new vehicles sold last year. And by 2027, US facilities alone will be able to produce enough batteries to supply 12.2 million new passenger EVs each year, which represents 95% of new vehicles sold last year.
Long-Term Electric Vehicle Growth Outlook Remains Strong Due to Structural TailwindsJan 18, 2024 - The long-term growth outlook for EVs also remains strong, supported by a range of factors. For example, automakers and battery producers are working hard to introduce new battery technologies that can bring more range and faster charging at a lower cost. As the future of mobility becomes increasingly electric, companies throughout the entire EV supply chain stand to potentially benefit.
Key Takeaways
* Global EV sales are forecast to grow 5x from 13.6 million units in 2023 to nearly 67 million units by 2035, representing a compound annual growth rate (CAGR) of 14.2%.2
* Supportive policies by both governments and traditional automakers underpin the robust long-term growth outlook.
* Expectations for the commercialization of next-generation battery technologies are also key to strong EV sales forecasts, and developers are making strides on semi-solid-state prototypes.
EVs Could Surpass a 50% Share of Global Light-Duty Vehicle Sales By 2032
The market share for EVs in the light-duty vehicle segment could grow from an estimated 17% in 2023 to more than 60% by 2035.4 The strong long-term growth outlook is supported by a range of factors, including supportive government policies in major auto markets. Many countries have set targets for partial or complete bans on sales of new internal combustion engine (ICE) vehicles. Germany is targeting new sales to be 100% zero-emission vehicles like battery or fuel cell EVs by 2030, while the U.S. is aiming for 50% of sales to come from EVs or hybrids by the end of the decade.5 The European Union has proposed an ICE ban starting in 2035, and China is also aiming for new sales to be 100% electrified by the same year.
Furthermore, automakers continue to invest heavily into electrifying their fleets. Original equipment manufacturers (OEMs) have announced more than $500 billion worth of investments towards meeting their electrification targets, even when factoring in a slight slowdown due to headwinds in 2023. For example, in April 2023, Kia and Honda increased their 2030 EV production targets to 1.6 million units and 2 million units annually, respectively. Toyota is targeting 1.5 million battery EV sales annually by 2026.
Next-Gen Battery Technologies are Moving Closer to Commercialization
Expectations for technology advancements also support the long-term outlook of growing EV sales, with battery producers making significant strides on next-gen solid-state batteries.
As seen in the table below, several key battery developers are already working on semi-solid-state or solid-state prototypes, though mass commercialization is likely years away. Ganfeng started production on semi-solid-state prototypes in May 2023, with an initial annual production output of 4GWh. QuantumScape is developing a battery that could support a 400-mile range and a 15-minute charge, and the company is targeting the production of prototypes by 2025. Automakers are also making advancements. In September 2023, Toyota published its advanced battery technology roadmap, which shows its solid-state lithium-ion batteries could be ready for commercial use by 2027-28. The solid-state technology could improve Toyota’s EV cruising range by 20% and offer a charging time of 10 minutes or less.
Conclusion: EV Growth Outlook Remains Strong
The long-term EV growth outlook remains positive due to structural tailwinds from government and corporate efforts. Additionally, technology advancements and expansions to the EV charging network can help address the top three factors that influence EV purchasing decisions – cost, charging infrastructure availability, and driving range. As the EV industry continues to mature, companies throughout the EV value chain are poised to potentially benefit, from lithium miners to battery producers and EV manufacturers.
https://insideevs.com/news/714827/toyot ... ares-drop/While everyone continues to disparage Tesla after its disappointing Q1 2024 sales performance, the market is favoring Toyota even more. The Japanese automaker’s share prices are up 32% year to date, whereas Tesla is down 33%...
Comparing the two head-to-head is unfair, of course, they’re not direct rivals. Tesla is a different beast, selling only battery electric vehicles, whereas Toyota offers everything from a gas-guzzling Land Cruiser to the Prius Prime plug-in hybrid and the lackluster bZ4x electric crossover. (EV)
But many experts consider that the EV industry here in the U.S. is past its first- and second-wave early adopter phase. The next wave of EV buyers want affordable EVs priced under $30,000, and they don’t want to worry about charging and range. That's exactly where Toyota's hybrids come into the picture. (Gasoline Powered)
Here’s a solid take from market analysis firm TipRanks this morning:
Naturally, the price war is helpful for TM stock for two main reasons. First, the reason for any price war centers on a lack of demand. It’s an especially powerful dynamic when Tesla—the EV market leader—is the one initiating the bitter competition. If it was an upstart entity looking to make a name for itself, that’s understandable.
Tesla? The company shouldn’t need to resort to such tactics because it has tremendous social cachet. So, something must seriously be wrong with the broader EV market.
While carmakers rush to build affordable EVs to thwart Chinese automakers's potential attempt to penetrate the U.S. market with irresistibly cheap EVs, Toyota can just continue doing what it does best. That includes selling conventional hybrids, PHEVs, and gas-powered models while working behind the scenes to bring 10 new pure electric cars to the market by 2026.
careinke wrote:
Sometimes Lucky has a hard time letting go of outdated paradigms, even when presented with facts. For example he still believes shinny rocks outperform inflation.
PEACE
theluckycountry wrote: US Gold price now $2300, due for a correction perhaps? We holders of the metal don't like to see it go up too far too fast but perhaps this is just a catchup with the insane inflation we've all just lived through. That's a trend I became aware of long ago, Gold follows inflation, with a lag.
kublikhan wrote:EV sales are up globally. US? EV Sales are up. Europe? EV Sales are up.
Some 202,000 plugin vehicles were registered in February in Europe — which is +10% year over year (YoY).
Half of the European car market is already electrified, in some way.
Brazil’s two largest car manufacturers, Volkswagen from Germany and General Motors, have also announced new investments worth billions of dollars.
Global Electric Vehicle sales have increased by around a third in early 2024 compared to the same period last year, according to data complied by EV research house, Rho Motion.
EV sales total 1.9m globally so far in 2024 compared to 1.5m the same period in 2023.
https://www.motorfinanceonline.com/news ... -to-tesla/Despite experiencing a Q1 decline, BYD still demonstrated a 13.4% year-on-year increase in sales compared to the corresponding period last year.
Global battery EV sales have surged past 10 million over the past 12 months...
Ignorance is bliss I guess. Electrified in this context means the car had some degree of electric drive. Meaning we are not just talking about BEV, but also PHEV(plug in hybrid), HEV(full hybrid), MHEV(mild hybrid). I know you prefer to dumb everything down to two car types: ICE and not ICE. But out in the real world there are many different types of electrification. And in Europe, if you add together BEV and all of the various types of hybrid cars, they make up over half of the market. Crazy huh?theluckycountry wrote:In some way? kub must mean the manufacturing and retail outlets have electric lighting.Half of the European car market is already electrified, in some way.
Volvo sees record sales in March boosted by electric SUV salesIn March, electrified car sales made up about 63% of total European car sales.
Again, all car sales fall from end of year to the start of the new year. This happens every year for all car sales, including ICE. That's why they look at YOY figures. For example, here's what all car sales looked like in the US from December 2023 to January 2024:theluckycountry wrote:There it is again, YOY. Like the 43% collapse in sales doesn't matter.
USA - Automotive sales volume, 2024US automative sales volume
Dec 2023 1,454,597
Jan 2024 1,082,620
And yet companies are still plowing hundreds of billions into EVs. Clearly they see potential in this market segment that you do not.theluckycountry wrote:By Q4 they'll be looking back 2 years. What happened a year ago is irrelevant to the corporations now collapsing into bankruptcy.
Long-Term Electric Vehicle Growth Outlook Remains Strong Due to Structural TailwindsAutomakers continue to invest heavily into electrifying their fleets. Original equipment manufacturers (OEMs) have announced more than $500 billion worth of investments towards meeting their electrification targets, even when factoring in a slight slowdown due to headwinds in 2023. For example, in April 2023, Kia and Honda increased their 2030 EV production targets to 1.6 million units and 2 million units annually, respectively. Toyota is targeting 1.5 million battery EV sales annually by 2026.
Conclusion: EV Growth Outlook Remains Strong
The long-term EV growth outlook remains positive due to structural tailwinds from government and corporate efforts. Additionally, technology advancements and expansions to the EV charging network can help address the top three factors that influence EV purchasing decisions – cost, charging infrastructure availability, and driving range. As the EV industry continues to mature, companies throughout the EV value chain are poised to potentially benefit, from lithium miners to battery producers and EV manufacturers.
Electric vs. Gas Cars: Is It Cheaper to Drive an EV?Sticker prices for electric vs. gas cars
According to data from Cox Automotive (parent company of Kelley Blue Book), the average price paid for a new EV has fallen significantly—in September 2023, it came down by $14,300 over the prior year. This amounted to a cost of just $2,800 more than the average paid for a new gas-powered vehicle. And with the EV market growing rapidly, the price margin is expected to shrink even more in the coming years as manufacturers produce more affordable models and improve battery technology, the most expensive part of an EV.
And read past the clickbait headline to see what the car companies are actually doing. I clicked on one of your clickbait headlines in the past that said something like "EV Sales are DEAD!" Then I actually read the article and it said: "The EV growth rate is lower than automotive companies were forecasting." Well that doesn't exactly make people's clicking fingers twitch like "EV sales are DEAD!" now does it?theluckycountry wrote:-GM, Honda scrap plans to co-develop 'affordable' sub-$30,000 EVs
-Shares of Renault jumped 5% in early deals Tuesday, hours after cancelling plans to publicly list its new electric vehicle
-Ford said customers in North America are unwilling to pay a premium for an EV. The company, in turn, is postponing about $12 billion in EV
-General Motors will scrap production of its top-selling electric vehicle, the Chevy Bolt
-GM CEO Calls It QUITS on EVs, PHEVs Are Back On The Table
-Volkswagen cuts EV output in Germany as demand craters
Don't believe the Lies, look what's before your very Eyes.
GM still planning to end gas-powered vehicle sales by 2035 -- CEOGeneral Motors CEO Mary Barra said Wednesday the Detroit automaker still plans on moving to all electric vehicle sales by 2035 even as it has recently delayed some EV production.
Will GM's Shifting Hybrid Strategy Disrupt Its EV Business Plans?What Was Actually Said
GM's existing EV strategy is not, in fact, changing. Barra doubled down on "eliminating tailpipe emissions from light-duty vehicles by 2035" in yesterday's investment call. In fact, the plan for 2024 hasn't changed a bit. This year, GM plans to launch gas-powered, non-hybrid Chevy Equinox, Traverse,Tahoe, andSuburban SUVs as well as an updated GMC Acadiaand next-generationBuick Enclave for the 2024 model year. Additionally, on the all-electric front, the automaker has plans to introduce or expand production of its Silverado EVandGMC Sierra EV pickup trucks, the all-new Equinox electric SUV, and luxurious Cadillac Escalade IQandCelestiq (along with the existing Lyriq).
Considering no changes for 2024's plan, any potential new hybrid trims or models will come next year or later, and as additions to, not replacements for, its overall BEV plan. "Our forward plans include bringing our plug-in hybrid technology to select vehicles in North America."
Why General Motors is pulling the plug on the Chevy BoltThe Chevy Bolt EV, released in late 2016, and the larger EUV (Electric Utility Vehicle), introduced in 2021, are both being axed—but not for lack of demand. Sales of the mass-market models have been clocking record highs. However, the battery cells in the cars are now outdated, Barra said.
A brief explainer of the problem with Bolt EV and EUV batteries
The batteries in the Bolt line of EVs have an older design and chemistry. More recent EV models, such as the GMC Hummer and Cadillac Lyriq, are fitted with GM’s Ultium architecture. The cost of these newer battery packs are nearly 40% lower than those in the Chevrolet Bolt EV.
Ford Updates EV, Hybrid Plans, Readies Manufacturing PlantsAPR 4, 2024 -
* Ford continues to invest in a broad set of EV programs as it works to build a full EV line-up. In parallel, Ford is expanding its hybrid electric vehicle offerings. By the end of the decade, the company expects to offer hybrid powertrains across its entire Ford Blue lineup in North America
* Equipment installation is underway at the Tennessee Electric Vehicle Center assembly plant at BlueOval City, which aims to begin customer deliveries of Ford’s next-generation electric truck in 2026
* Expansion progresses at Ohio Assembly Plant in Avon Lake, to produce an all-new electric commercial vehicle for Ford Pro customers beginning mid-decade; construction progressing at BlueOval Battery Park Michigan, and BlueOval SK joint venture battery plants in Tennessee and Kentucky
* Ford reiterates commitment to its Oakville, Ontario, assembly plant as the company retimes the launch of its all-new three-row electric vehicles to 2027
* Design work continues on future EVs, including a flexible small and affordable EV platform by a skunkworks team in California
Ford Motor Company said today it is retiming the launch of upcoming electric vehicles at its Oakville, Ontario, assembly plant while continuing to build out an advanced industrial system to produce its next-generation electric vehicles, including greenfield construction and conversion of existing assembly plants.
The company continues to invest in a broad set of EV programs as it works to build a full EV line-up. These initiatives support the development of a differentiated and profitably growing EV business over time while Ford serves customers with the right mix of gas, hybrid and electric vehicles based on demand today. In parallel, Ford is expanding its hybrid electric vehicle offerings. By the end of the decade, the company expects to offer hybrid powertrains across its entire Ford Blue lineup in North America. In the first quarter of 2024, Ford’s electric vehicle sales increased by 86% and hybrid sales rose 42% versus a year ago.
“As the No. 2 EV brand in the U.S. for the past two years, we are committed to scaling a profitable EV business, using capital wisely and bringing to market the right gas, hybrid and fully electric vehicles at the right time,” said Jim Farley, Ford president and CEO. “Our breakthrough, next-generation EVs will be new from the ground up and fully software enabled, with ever-improving digital experiences and a multitude of potential services.”
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