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Tesla’s Share of U.S. Electric Car Market Falls Below 50% Tesla’s 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 climbed 11.3 percent from a year earlier #electricvehicles #EV #EVs #automotive #auto #tesla #cars #transportation

#LATimes #EV News: One out of every 5 cars sold in California is now powered by a battery, registration data released Wednesday by the California New Car Dealers Assn. shows. In the first nine months of 2023, electric vehicles accounted for 21.5% of cars sold in California, a figure that’s more than doubled in the last two years. When combined with hybrid, plug-in hybrid and fuel-cell vehicles, the year-to-date figure is 35.4%.

In California, electric cars are becoming more popular than ever, with one in five cars now powered by batteries, according to a new report from the California NCDs. That's more than double the rate of two years ago, and it's helping the state stay ahead of the competition in the electric car market. Elon Musk's Tesla was based in California, and the state has seen a faster adoption of EVs than anywhere else in the US. Tesla and other big automakers have both said they'll slow down their investment in battery cars for the time being, citing higher interest rates and higher prices. https://lnkd.in/dA_2r4n4

Once again, thanks to Dan Gearino for this EV update: If the EV Market Has Slowed, Nobody Bothered to Tell Ford Taking the temperature of the U.S. electric vehicle market, with several automakers way up and Tesla down. BY DAN GEARINO Tesla, you may have heard, is going through a rough patch, and the company represents a large enough share of U.S. electric vehicle sales that its problems could lead to a down year for the entire market. https://lnkd.in/gCzzsnA2

No, electric vehicle sales aren’t dropping. Tesla has been slashing prices. Ford just cut the price of its Mustang Mach-E, too, plus it cut back production of its electric pickup. And General Motors is thinking about bringing back plug-in hybrids, possibly taking a step back from GM’s earlier commitment to shifting straight to pure EVs. And now the EPA is considering slowing down requirements for automakers to sell more electric vehicles, dialing back what had been aggressive plans to move away from gas powered cars and SUVs. You’d be forgiven for thinking the American market for EVs is collapsing. But in the last quarter of 2023, EV sales were up 40% from the same quarter a year before, according to Cox Automotive. In fact, EV sales in the United States hit a record last year, topping 1 million for the first time. Still there is still a troubling gap between expectations and reality. Bloomberg New Energy Finance, for instance, projected sales of 1.7 million plug-in vehicles in 2023, but only 1.46 million ultimately sold. (BNEF’s figures include plug-in hybrids, but the large majority are fully electric vehicles.) The trend line isn’t slanting upward as sharply as many had predicted so the industry is lowering future estimates. Industry experts cite a number of reasons for this, including vehicle price, lack of charging capacity and confusing tax credit rules. Here's what else to know about the industry ⬇️

The #TeslaModelY emerged as #Australia's top-selling electric vehicle in 2023, with 28,769 units sold. This performance placed it as the country's 6th-best-selling vehicle across all categories. In a year where the automotive industry saw a 12.5% increase in new vehicle deliveries, Tesla recorded 46,116 total sales. Electric vehicles now represent 3.79% of the Australian auto market. #ElectricVehicles #AutomotiveTrends #MarketShift #EVStats https://lnkd.in/erpiBHyh

“When combined with hybrid, plug-in hybrid and fuel-cell vehicles, the year-to-date figure is 35.4%.” This is very encouraging news as next January the $7500 federal incentives kick in at the dealer level instead of waiting for your tax returns. State and regional incentives plus increasing inventory of used vehicles (especially expiring leases) will accelerate a tipping point around mid decade at least in California. We’re going to see more used EV dealers buy EVs with expiring leases and ship them other states…. #usedEV #evsales #autosales

This story has been fascinating to watch from the perspective of a tech industry veteran. Those of us in the software world are intimately familiar with Gartner's Hype Cycle (Technology Trigger, Peak of Inflated Expectations, Trough of Disappointment, Slope of Enlightenment, Plateau of Productivity), but for consumers, the media, and perhaps even the manufacturing industry I suspect it's not top of mind. It really is genius in it's simplicity and accuracy, and this is a text book case. Reading this article and many others on the EV market, it is abundantly clear that we are in the "Trough of Disappointment", which we know is not a bad place to be. It's merely a step in maturity. The companies that address the challenges outlined here will go on to thrive. The real take away from this article is this one: "EV sales were up 40% over the same period last year." That's the definition of hyper-growth...

🚗 Exciting News for Electric Vehicle Enthusiasts! 🌟 The electric vehicle revolution is charging ahead with thrilling developments like the recent announcement from Ford regarding the compatibility of the F-150 Lightning and Mustang Mach-E with Tesla adapters! 🔌 In a move towards greater convenience and accessibility, Ford is bridging the gap between electric vehicle owners by enabling F-150 Lightning and Mustang Mach-E drivers to utilize Tesla's charging infrastructure. This forward-thinking initiative not only expands charging options but also fosters collaboration and interoperability within the EV community. ⚡ Check out the full details of this groundbreaking announcement in the insightful article below. As advocates for sustainable transportation and innovation in the automotive industry, it's inspiring to witness initiatives that prioritize convenience and accessibility for electric vehicle drivers.🌱🚗 #ElectricVehicles #EVRevolution #Ford #F150Lightning #MustangMachE #Tesla #ChargingInfrastructure #Sustainability #Innovation #AutomotiveIndustry #fleet #fleetprofessional #fleetmanager