Global EV sales continued building momentum last month despite claims of a cooling market. Sales of electric vehicles grew by double digits in the top markets globally. China, the world’s largest EV market, continues to break sales records despite ending subsidies.
According to market research firm Rho Motion (via Reuters), EV sales grew 29% year-to-date in China in October.
“What’s notable about October’s figures is that EV demand in China continues to reach record highs even though the subsidies were cut,” the company said in a statement.
The growth comes amid China ending an 11-year subsidy for EV buyers last year. Despite this, Rho Motion claims, “2023 is set to be another banner year for China in terms of EV sales.”
Leading Chinese EV maker BYD has continued building momentum this year. The company came within a few thousand of surpassing Tesla as the world’s largest EV maker in the third quarter.
BYD sold a record 151,193 all-electric vehicles in September, for a total of 431,603 in Q3. Meanwhile, Tesla delivered 435,059 EVs in the quarter as it aims to reach its goal of 1.8 million this year.
Like Tesla, BYD has aggressively cut prices this year to drive out a flurry of new competitors and stimulate demand.
Despite the lower prices, BYD posted a record $1.42 billion in third-quarter profits. The company’s gross margins reached 22.12%, its highest in three years.
BYD Atto 3 (Source: BYD)
So, is EV adoption slowing, as many are claiming? The data suggests otherwise…
Is EV sales momentum really slowing?
Despite claims that demand for EVs is cooling, the global electric vehicle market grew 34% year-to-date last month.
The top auto markets had double-digit EV sales growth. Outside of China, EV sales grew 26% in European markets, where subsidies were also cut recently.
Several automakers, including Volkswagen and Mercedes-Benz, have warned that higher interest rates and inflation are turning customers away. Volkswagen’s CFO Arno Antiliz said EV orders were down to 150,000 in Q3, 50% lower than last year.
2023 Volkswagen ID.4 (Source: VW)
In response, Volkswagen has cut production of several EV models in Germany, including the ID.4, ID.7, and Audi Q4 e-tron.
Meanwhile, Chinese automakers, including BYD, are expanding in Europe with affordable EV models like the Dolphin hatchback.
EV sales in North America are up 78% so far this year. “The North American market continues to have a strong 2023, with Tesla still taking the lion’s share of demand as legacy automakers temper ambitions of scaling production,” Rho Motion said.
US electric vehicle market
According to recent Cox Automotive data, US EV sales surpassed 300,000 for the first time in Q3. EV sales in the US have now grown for 13 straight quarters.
EV sales accounted for 7.9% of total US auto sales in Q3 with Tesla remaining on top. Tesla accounted for 50% market share, down from 62% in the first quarter. With the highly-awaited Cybertruck launching, momentum is expected to continue.
Q3 2023 US sales
Q3 2022
YOY
Q3 Market Share
Audi
7,538
3,891
93.7%
2.4%
BMW
13,079
4,365
199.6%
4.2%
BrightDrop
35
–
0%
0%
Cadillac
3,018
36
0%
1%
Chevrolet
15,872
14,709
7.9%
5.1%
Ford
20,962
18,257
14.8%
6.7%
Genesis
1,802
888
102.9%
0.6%
GMC
1,167
411
183.9%
0.4%
Fisker
997
–
0%
0.3%
Hyundai
19,630
5,824
237.1%
6.3%
Jaguar
86
22
290.9%
0%
Kia
9,325
5,583
67%
3%
Lexus
1,394
–
0%
0.4%
Lucid
1,618
654
147.4%
0.5%
Mazda
34
8
325%
0%
Mercedes
10,423
2,717
283.6%
3.3%
Mini
516
1,105
-53.3%
0.2%
Nissan
6,074
1,276
376%
1.9%
Polestar
3,710
2,852
30.1%
1.2%
Porsche
2,050
1,325
54.7%
0.7%
Rivian
15,564
6,884
126.1%
5%
Subaru
2,791
–
0%
0.9%
Tesla
156,621
131,024
19.5%
50%
Toyota
2,827
–
0%
0.9%
VinFast
1,159
–
0%
0.4%
Volvo
4,087
542
654.1%
1.3%
Volkswagen
10,707
6,657
60-.8%
3.4%
US electric vehicles sales Q3 (Source: Cox Automotive)
Despite this, with new EV models hitting the market, Tesla’s share of the market is bound to slip. Overseas competitors including Mercedes-Benz, Volvo, and Hyundai are seeing momentum picking up.
Although Ford (20,962) and GM (20,092) sold more EVs, Mercedes topped the American automakers in sales share. Electric vehicles accounted for 15% of Mercedes total US sales, while GM and Ford were around 3% to 4%.
Hyundai IONIQ 5 (left) and IONIQ 6 (right) at Tesla Supercharger (Source: Hyundai)
The growth comes amid delays from top American automakers including Ford and GM on key EV targets.
GM announced it was delaying production of the Equinox, Silverado RST, and GMC Sierra Denalli EVs to protect pricing.
Ford revealed it was pushing back its 600,000 run rate goal until next year. It’s also scapping plans to build one of Europe’s largest EV battery plants with LG Energy Solutions.
Electrek’s Take
So, is EV sales momentum really slowing? Top legacy automakers including Ford, GM, and Volkswagen are warning that the pace of EV adoption is slowing.
Others, including Hyundai and Volvo, expect the momentum to continue with new, advanced models launching next year.
Rivian, an EV startup, raised its production target after crushing Q3 expectations. The company delivered an impressive 15,564 vehicles in the third quarter, more than double last year’s figures.
The fears of slowing demand are over higher interest rates, which could cut into consumer budgets. However, as many EV makers are proving, electric cars are still selling.
Automaker’s that put the early effort in, like Tesla, Rivian, Volvo, and others are seeing the returns.
EV adoption will continue climbing year-over-year despite near-term concerns. The companies doubling down now, will continue reaping the rewards as the industry transitions.
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There you are, motoring along in your Volvo XC90 PHEV with the Pilot Assist engaged alongside a big 18-wheeler at a comfortable 70 mph cruise when the interstate starts to slowly sweep left. From the drivers’ seat, that semi on your right looks awfully close. As the steering wheel turns itself in your hand, you start to wonder if that truck’s a bit too close. The car isn’t doing anything wrong, but it’s too close for your comfort and you give the wheel a little nudge to hug the inside of the lane just a bit more.
These deeply personal preferences are tough to quantify, and highlight a simple fact about Advanced Driver Assistance Systems (ADAS) that the industry at-large hasn’t yet to come to terms with: when it comes to self-driving cars, one size does not fit all.
The Volvo experience I outlined above was very real, happening just as the wife and I were arguing about the relative merits of our very different choice in running shoes. She prefers the supportive, cushion-y ride of the HOKA Clifton 9s, which I’ve become convinced are The Devil™, preferring instead the zero-lift, no-cushion feel of my Xero Prio runners. The intervention with the Volvo interrupted that particular argument and started another. Namely, the one about why I had chosen that moment to “interfere” with the Pilot Assist.
“It was too close to that truck,” I explained. “Freaked me out.”
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“That’s how I feel in the Honda,” she said. “I’m always afraid that it’s going to try and put me into oncoming traffic.”
That’s when the idea for this post came to me. Because, as a car brand, it’s really not possible to just say that your car has ADAS or doesn’t have ADAS in a binary sense. That’s because these systems are not just proprietary to a given brand, they can vary from vehicle-to-vehicle within that brand, and each one can have distinct lane centering behavior, steering feel, lane change aggressiveness, braking distances, timing for its hand-off warnings, and probably a bunch of other stuff that I haven’t even thought of depending on what kind of cameras, sensors, and software the specific vehicle you are in is equipped with.
It’s a bit of a mess, in other words.
Opinion: Honda Sensing gets it right
I first experienced Honda’s ADAS in 2014, driving a then-new CR-V between Chicago and Bay Harbor, Michigan for an Acura press drive. Even in its early generations, I was impressed with the way it handled stop-and-go traffic, the way it guided you through turns, but didn’t do the turning for you, and the speed and intensity it used in braking very much mirrored my own.
Last month, I had a chance to test out the 2025 Honda Civic Sport Touring Hybrid for a week on Cape Cod. I picked the car up at PreFlight Parking outside Boston Logan, jammed it with luggage, and immediately hit heavy traffic, where the Honda Sensing Low-Speed Follow function took me right back to 2014, ratatouille-style, when my experience in that car had led me to believe that self-driving cars were right around the corner.
In the decade-plus since experiencing that first autonomous Acura, I’ve had the chance to experience Ford BlueCruise, Tesla Autopilot and FSD, and Mercedes-Benz DRIVE PILOT. And all, interestingly enough, in and around the Circuit of the Americas in Austin at one time or another over my three years of hosting Electrify Expo events there.
Each different OEMs’ system had its strengths and quirks. I remember Mercedes DRIVE PILOT as impressively precise, even clinical. The Ford system faded into memory. I couldn’t tell you anything about it, which is probably high praise. The Tesla systems, though, stood out — but for all the wrong reasons. Lane changes came too quickly, it accelerated too late, and too aggressively, and I often found myself bracing for collisions that (in fairness) never came.
More than once in those years I’ve wondered if maybe I’d just got it wrong back in 2014. That the tech was so new, and I had been so wow’ed by it initially, that I had got swept up in the hype of self-driving cars … but that drive in my wife’s XC90, back-to-back as it was with the Civic Hybrid, showed me that wasn’t it. Instead, I just didn’t like the way those other cars drove. Just like I don’t like the way HOKAs feel. And, just like my wife isn’t wrong for liking her gross marshmallow shoes (probably), I’m not wrong for preferring a more restrained digital co-pilot.
It’s a matter of fit, not fact — and that’s going to be a tough sell.
Everyone but me is wrong
Classic Carlin bit.
As the great George Carlin once asked, “Have you ever noticed that anyone who is driving slower than you is an idiot, and anyone driving faster than you is a maniac?”
ADAS systems live squarely in that same subjective space occupied by other drivers. If the bots brake too hard, steer too sharply, or get too close to the car head before changing lanes, they might not be technically doing anything wrong, but they’re maniacs – and right now, there’s no real way to know how one car’s ADAS is going to behave until you’ve spent some significant time behind the wheel. Like, “Uh-oh. I bought a thing and I hate it,” amounts of time.
That’s a problem for both buyers and sellers (to say nothing of manufacturers and software developers), because why would you risk demonstrating a system that might scare someone? How do you sell “confidence” and “convenience” when what feels confident and convenient to one driver feels reckless to another, and milquetoast to a third?
Lucky for you guys, I have a solution.
Jojo’s ADAS scorecard *
System
Lane centering bias
Lane change distance (car lengths)
Follow distance (default)
Braking force (max Gs)
Hands-off time allowed
Overall “feel”
Ford BlueCruise
Centered
~3.5
Moderate
0.30 G
Medium
Stable
Honda Sensing
Slight left bias
~2.5
Safe
0.35 G
Short
Balanced
Mercedes-Benz DRIVE PILOT
Centered
~3.5
Moderate
0.40 G
Long
Confident
Tesla Autopilot
Centered
~1.5
Close
0.45 G
Long (varies)
Aggressive
Volvo Pilot Assist
Slight right bias
~3.0
Moderate
0.30 G
Moderate
Cautious
NOTE: THESE ARE NOT REAL VALUES
That asterisk (*) is there because these are completely made up, imaginary values. They’re simply there to illustrate one way for manufacturers and dealers to share objective, quantifiable information about how their different ADAS systems behave. If it’s done right, it might help a car shopper get a better feel for how their next car might drive, and prevent them from spending their hard-earned cash on a car that drives like an idiot. Or a maniac.
That’s my take, anyway – what’s yours? Head down to the comments and let us know what values you’d like to see represented on an ADAS scorecard, and how much you’d be willing to base your next car buying decision on how it drives.
As for me, my X handle might be VolvoJo, but if I’m shopping for a car that’s going to drive me instead of the other way around, I might have to see if “HondaJo” is available.
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Elon wants the US military to start buying Tesla Cybertrucks – and now they are! The Air Force has ordered two Cybertruck testers for target practice to determine how easy they are to blow up, while Jo makes up a whole new conspiracy theory on today’s explosive episode of Quick Charge!
Today’s episode is brought to you by retrospec—makers of sleek, powerful e-bikes and outdoor gear built for everyday adventure. Electrek listeners can get 10% off their next ride until August 14 with the exclusive code ELECTREK10 only at retrospec.com.
An it doesn’t stop there. We’ve also got exciting new home battery backup and V2X options for Tesla owners, and one Texas EV driver that decided to conquer the Texas floodwaters by harnessing the awesome combined powers of electrons and stupidity (it’s pretty awesome).
New episodes of Quick Charge are recorded, usually, Monday through Thursday (most weeks, anyway). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.
Got news? Let us know! Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.
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Tesla’s Dojo supercomputer project is reportedly over. Bloomberg reports that CEO Elon Musk is killing the project after a mass exodus of talent from the Dojo team to a competing startup.
Dojo was the name of Tesla’s in-house AI chip development to create supercomputers to train its AI models for self-driving.
Tesla hired a bunch of top chip architects and tried to develop better AI accelerator chips to rely less on companies like NVIDIA, AMD, and others.
For the last few years, Peter Bannon, who worked with Keller for years, has been leading Tesla’s chip-making programs, but he is now reportedly also leaving the automaker.
Bloomberg reports that Musk has “ordered the effort to be shut down.”:
Peter Bannon, who was heading up Dojo, is leaving and Chief Executive Officer Elon Musk has ordered the effort to be shut down, according to the people, who asked not to be identified discussing internal matters. The team has lost about 20 workers recently to newly formed DensityAI, and remaining Dojo workers are being reassigned to other data center and compute projects within Tesla, the people said.
DensityAI is a new startup currently in stealth mode, founded by several former Tesla employees, including Venkataramanan.
It reportedly plans to build chips for AI data centers and robots, much like the Dojo program.
The company recently hired 20 former Tesla employees who worked on Dojo.
While the program appeared to be lagging behind for years as Tesla increasingly bought more compute power from NVIDIA, Musk has been claiming progress.
The CEO said in June:
Tesla Dojo AI training computer making progress. We start bringing Dojo 2 online later this year. It takes three major iterations for a new technology to be great. Dojo 2 is good, but Dojo 3 will be great.
During Tesla’s quarterly conference call in late July, the CEO claimed that Dojo 2 will be “operating at scale sometime next year.”
Electrek’s Take
It’s unclear whether the report is accurate or if it’s an extrapolation from the talent exodus to Elon killing Dojo, or if Elon was lying just a few weeks ago.
Alternatively, this development may be so recent that Elon went from being confident in Dojo a few weeks ago to disbanding the team working on it now.
Either way, I think it’s clear that the project has been lagging, and Tesla has been extremely dependent on chip suppliers rather than making its own.
I think Dojo being likely dead is not a big loss for Tesla.
When it comes to chip making, developing its own inference compute for onboard “AI computers” was always the more important project.