Jeep and Ram owner, Stellantis posted its first-half results Wednesday, showing a 24% rise in global EV sales. Ahead of its North American EV offensive, Stellantis CEO Carlos Tavares said the automaker’s margins were better than that of Tesla and General Motors.
Stellantis CEO calls out Tesla, GM over margins
Stellantis posted a record performance in the first half of 2023 with revenue, adjusted operating income, and net profit all up over last year.
Revenue rose 12% YOY to €98.4 billion ($109B), while net profit came in at €10.9 billion ($12B). Operating income, which many look at to determine profitability, was 14.1%.
Tavares told reporters, following the results, that Tesla is “entering my world the world of tight pricing, cost competitiveness, and the operational issues that a big company like ours may face,” according to Reuters.
Stellantis’s leader pointed out how Tesla’s “profitability moved from more than 17% in the first half of 2022 to 10.5% in the first half of 2023.”
As expected, Tesla’s operating margin fell in the second quarter due primarily to the price cuts throughout the first half of the year, in addition to costs associated with ramping 4680 cell production and increased expenses driven by the Cybertruck, AI, and other projects.
The EV leader’s operating margin has now fallen for three straight quarters, from a peak of 17.2% in Q3 2022 to 9.6% in the most recent quarter, which is still strong compared to the industry average.
Tavares claimed all automakers, including Tesla, would face competition from Chinese EV makers in their home markets. He said:
If we are racing for the bottom in terms of facing the Chinese with price cuts, Tesla will have problems with that strategy before we do, because we are more profitable than Tesla.
Tesla was not the only one, Tavares called out. He also mentioned General Motors, which posted margins of 8.3%.
Jeep Avenger (Source: Stellantis)
Stellantis advances EV offensive to the US
Meanwhile, while Tesla continues setting new EV delivery records each quarter, Stellantis has yet to release its first all-electric car in the US.
Despite the success in the EU, the automaker’s first EVs will arrive in North America in the second half of the year, including the RAM ProMaster electric van and a New Fiat 500 EV.
Jeep Recon Moab 4xe (Source: Jeep Recon Forum)
Stellantis says the “BEV offensive” in North America will expand next year with eight new EV models. These include the Dodge Charge Daytona, Jeep Wagoneer S and Recon, and RAM 1500 REV electric pickup.
2025 Ram 1500 REV (Source: Ram)
Tavares commented on the first-half results, saying:
Our outstanding performance in the first half of this year supports our long-term sustainability and our ability to achieve the bold ambitions of our Dare Forward 2030 plan.
Stellantis sold roughly 169,000 electric cars globally during the first half of the year, up 24% YOY, with several new products on the market.
The company says it now ranks third in overall EV sales and number one in commercial EV sales in the EU30.
(Source: Stellantis)
Stellantis also recently revealed its STLA medium platform, which will be used to underpin future Jeep and Chrysler EVs featuring up to 435 miles (700km) of range with a performance pack.
Electrek’s Take
Despite Stellantis posting a higher margin in the first half of the year than Tesla, the company has a lot of work to do as it aims to reach 100% EV sales in Europe and 50% in the US by 2030.
As other automakers have shown, transitioning factories can be a major hurdle, with costly downtime and other expenses.
The US is Stellantis’s largest revenue driver, where it makes the most money. Tavares has previously mentioned he would likely need to expand its manufacturing footprint in the US and potentially even more in its domestic market.
This is not to mention the investments that will go into securing the EV supply chain to enable it to hit its targets, including batteries and software. All of this comes as EV makers from China continue expanding into key auto markets with low-priced, unique electric models.
For example, yesterday, China’s Geely Group revealed its first Radar R6 electric pickup trucks, which rolled off the assembly line for international markets. The Radar R6 starts at RMB 178,800 (roughly $25K) in China.
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A new Civic is in the works that’s bringing much more than just a new look to Honda’s best-selling vehicle. Here’s our first look at the next-gen Honda Civic.
Honda previews next-gen Civic with new hybrid system
During an event held for the media on Wednesday, Honda offered a look at some of the advanced new tech it plans to roll out over the next few years.
Although it just launched the current Civic Hybrid last year, Honda is already working on its replacement. Honda didn’t confirm or deny that the Civic was under the camouflage, but it was pretty evident.
The new Civic will ride on Honda’s next-gen hybrid (HEV) platform, designed for mid-size vehicles. Honda’s new hybrid system is nearly 200 lbs (90 kg) lighter and more flexible, which it said provides “excellent fuel economy” while also improving the driving experience.
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According to Car and Driver, which drove the new Civic, the interior is also getting redesigned. Honda covered most of it, but you could still see what appeared to be a larger, at least 15″ infotainment screen at the center.
Honda tests new hybrid (HEV) platform (Source: Honda)
Honda is keeping most powertrain details a secret for now, but the new Civic appears to have an electrified drive unit similar to those found in the Accord and CR-V.
The company said the direct-drive motor and generator motor are smaller, more efficient, and free from rare-earth materials. Honda also said the battery, located under the rear seat, is all-new. It will be used for upcoming compact and mid-size vehicles, which Honda said will help reduce costs.
(Source: Honda)
As for how it drives, Car and Driver said the new Honda Civic was quick off the line thanks to its direct-drive setup. However, the test track was too smooth to really judge the ride quality.
Like the new Honda Prelude, the Civic will feature S+ Shift, which simulates gear-shifting via paddles on the steering wheel.
(Source: Honda)
The prototype had exhaust pipes, but they likely won’t make it to the production model. Honda plans to launch several next-gen hybrids on the new HEV platform, starting from 2027. The next-gen Honda Accord may even arrive before the Civic, debuting on the hybrid system.
Honda said it’s also developing a next-gen platform for large-size HEVs to meet the growing demand in North America.
Using a next-gen V6 engine with extended fuel-efficient range, Honda said it aims to improve fuel efficiency by 30% compared to its current ICE vehicles. Honda’s larger HEVs will likely go on sale closer to 2028.
Honda also showcased the Super-ONE Prototype during the event, its compact EV set to launch in Japan in 2026, followed by the UK and other global markets.
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Zero Motorcycles turned heads in Milan at EICMA 2025 with the unveiling of its new LS1 electric scooter, a sleek and practical 60 mph (100 km/h) commuter built for European city streets. With its swappable batteries, off-board charging, and smart safety tech like ABS and traction control, the LS1 is clearly a strong contender in the urban EV space. It also marks a major shift for Zero, expanding beyond full-size electric motorcycles into a more accessible, everyday format.
But will it come to the US market?
At the show I had the chance to speak with James Callahan of Zero, and he confirmed that the LS1 is not coming to the US market, at least not in its current form or in the near future. “The scooter market in the US is still very small,” Callahan explained, “so for now, we’re focused on Europe, where the demand is much higher.”
And while interest from American riders may exist, there’s another hurdle: the LS1 isn’t homologated for the US, meaning it doesn’t meet certain regulatory standards like the NHTSA’s lighting requirements. Its slick continuous LED turn signal bar would need to be redesigned entirely, among other tweaks to the design.
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The LS1 comes equipped with two removable batteries that live in the floorboard and can be charged indoors using an 800W charger – or even faster with a 1,500W upgrade. A third battery can be added under the seat for extended range, while that same underseat storage area also hides a cavity large enough for a helmet or groceries.
Add in a low seat height, a short wheelbase, and user-friendly features, and you’ve got a solid commuter platform. But it’s a platform that we’re not likely to see in the US for a long time.
Though it’s not all bad news for our American readers. There’s a spark of hope that Zero’s more affordable off-road electric motorcycles launched in the US market this year could be getting street-legal homologation, though not immediately. More on that soon…
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Toyota is selling cars faster than it can build them. With strong demand for hybrids, the company says it can “barely cover the demand.”
Toyota’s hybrids fuel sales growth in 2025
After reporting its fiscal second-quarter earnings on Wednesday, Toyota raised its sales and earnings forecast for the year.
In the first half of the fiscal year, the company sold a record 5.27 million vehicles, up 105% compared to the same period in 2024. Those numbers include its luxury Lexus brand.
Toyota said “strong demand from customers around the world” led to higher sales, particularly in Japan and North America. Hybrid vehicles primarily drove growth, with higher demand in competitive markets such as North America and China.
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The Japanese automaker sold 2.27 million hybrids (HEVs) in the first six months of the fiscal year 2026. Including battery-electric vehicles (BEVs), plug-in hybrids (PHEVs), and fuel-cell electric vehicles (FCEVs), Toyota’s total “electrified” vehicles accounted for 47% of its total sales.
(Source: Toyota)
Toyota said the new RAV4, its best-selling vehicle globally, is carrying the growth as the first to adopt its software-defined platform, Arene.
Like most automakers, Toyota took a hit from the US auto tariffs. The company expects the 15% tariff will cost an extra 1.45 trillion yen ($9.4 billion) in the fiscal year.
Toyota RAV4 PHEV (Source: Toyota)
Toyota expects higher sales, and cost-cutting measures will lessen the blow. It raised operating profit guidance for the fiscal year ending March 31, 2026, to 3.4 trillion yen ($22 billion). That’s up from its previous guidance of 3.2 trillion yen ($20.8 billion), but still a 28% decrease compared to the previous fiscal year.
2026 Toyota bZ electric SUV (Source: Toyota)
“In terms of sales, we expect a very healthy situation going forward,” Toyota’s CFO, Kenta Kon, said during a news conference with reporters on Wednesday (via Automotive News).
According to Kon, Toyota is still seeing “strong demand,” so much so that “we can barely cover the demand,” he added.
Electrek’s Take
Although hybrids are carrying the growth, Toyota’s BEV sales are still lagging. In the US, Toyota sold just 61 bZ electric SUVs in September. Through the first nine months of the year, Toyota sold just 12,264 bZs, down from 13,577 in the same period last year.
With the 2026 BZ upgrade rolling out and new EVs arriving soon, including the C-HR and bZ Woodland, Toyota’s BEV sales are expected to gain momentum over the next few months finally.
At the Japan Mobility Show, the company revealed plans for five unique brands under the Toyota Group, which it says will provide a diverse range of vehicles designed for every buyer.
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