tldrdailynews.com logo
Tag

Ev Demand

All articles tagged with #ev demand

Used EV Prices Rally as Iran War and Gas Costs Drive Demand
business1 month ago

Used EV Prices Rally as Iran War and Gas Costs Drive Demand

Used electric vehicles are fetching higher prices as demand strengthens amid the Iran conflict and elevated gas prices. Cox Automotive’s Manheim index shows EV prices at wholesale up 12% year over year last month, versus a 1.7% rise for non-EVs. Wholesale EV prices have climbed about 11.5% this year to roughly $30,400, with May used-EV listings averaging $37,083. May used-EV sales reached 42,923 (up 5.5% MoM, 24.7% YoY), led by Tesla. Gas prices average around $3.80/gal, up about 21% YoY. Analysts warn a wave of off-lease EVs later this year could pressure prices if gas prices ease, even as new EV sales declined in Q2.

via CNBC|
#business#ev-demand#gas-prices
War in the Middle East Triggers Global Electric-Vehicle Surge
business4 months ago

War in the Middle East Triggers Global Electric-Vehicle Surge

As the Iran conflict pushes petrol and diesel prices higher, global demand for electric vehicles has surged, with faster sales and higher prices for used EVs in the US, China, Vietnam, Japan, Europe and Australia. Vietnam’s VinFast reported a 127% YoY sales jump in March, while analysts say repeated energy shocks in the 2020s could make this a lasting shift toward EVs, aided by government charging-infrastructure initiatives and booming dealer interest despite stock constraints.

via Al Jazeera|
#business#electric-vehicles#energy-shocks
Tesla's Upcoming Earnings and Future Stock Outlook
business10 months ago

Tesla's Upcoming Earnings and Future Stock Outlook

Tesla is approaching its third-quarter earnings with strong delivery numbers and revenue growth driven by last quarter's surge in EV demand, but faces challenges with expiring tax credits and questions about its autonomous and robotics ambitions, including updates on self-driving cars and humanoid robots. Investors are also closely watching Elon Musk's compensation plans and the company's future growth prospects in AI and robotics.

via MarketWatch|
#autonomy#business#earnings
U.S. EV Market Faces Challenges as Demand Wanes and Automakers Pull Back
business11 months ago

U.S. EV Market Faces Challenges as Demand Wanes and Automakers Pull Back

The U.S. EV market is expected to experience a decline in demand following the expiration of federal incentives, which have historically boosted sales. Automakers are adjusting to this new reality, with some reducing production or workforce, while others focus on launching affordable new models. Despite short-term challenges, industry leaders remain optimistic about long-term growth driven by new, lower-cost EVs.

via CNBC|
#auto-industry#business#electric-vehicles
Ford Delays Rollout of New EVs, Shifts Focus to Hybrid Vehicles
business-automotive2 years ago

Ford Delays Rollout of New EVs, Shifts Focus to Hybrid Vehicles

Ford is delaying the production launch of its planned three-row electric SUV from 2025 to 2027 and expects customer deliveries of the all-new electric pickup truck to begin in 2026, citing waning demand for EVs. The automaker, which lost about $4.7 billion on EVs last year, aims for its next generation of EVs to be profitable within 12 months of their launch and plans to spend less on making larger EVs by focusing on "geographies and product segments where we have a dominant advantage, like trucks and vans."

via Fox Business|
#business-automotive#electric-vehicles#ev-demand
Mercedes-Benz Delays Full Transition to Electric Vehicles
business2 years ago

Mercedes-Benz Delays Full Transition to Electric Vehicles

Mercedes-Benz has revised its electric vehicle (EV) sales expectations, now anticipating that EVs will make up only around half of its total sales by 2030, a significant step back from its previous goal of going all-electric by that year. The company also announced plans to continue updating its combustion engine lineup well into the next decade, reflecting a broader slowdown in global EV demand that is impacting the automotive industry, leading to layoffs, production cuts, and altered strategic plans. Despite this, Mercedes-Benz's shares rose following the announcement, supported by a $3.3 billion share buyback program.

via Yahoo News Canada|
#automotive-industry#business#electric-vehicles
Rivian Faces Challenges: Job Cuts and Pricing Pressure Amid EV Demand Shift
business2 years ago

Rivian Faces Challenges: Job Cuts and Pricing Pressure Amid EV Demand Shift

Rivian's stock plummeted as the company announced a lower-than-expected production outlook for 2024 and revealed plans to cut 10% of its salaried staff due to economic uncertainty. The electric vehicle maker reported mixed fourth quarter results, with revenue slightly exceeding estimates but with a wider-than-expected adjusted loss per share. Rivian's CEO emphasized the company's focus on driving cost efficiency, achieving positive margins, and building its go-to-market function to support long-term growth. The company's profitability plans are crucial for its survival, as it aims to reach "modest gross profit" by the end of 2024.

via Yahoo Finance|
#business#electric-vehicles#ev-demand