Despite talk of an “EV slowdown,” sales of electric vehicles are still growing. EV registrations grew another 3.8% in March as several automakers, including Hyundai and Ford, saw electric car sales surge.
EV registrations grew in March despite Tesla’s decline
According to the latest EV registration data from S&P Global Mobility, several automakers gained market share in March.
Big price cuts and lease deals boosted demand in the first quarter, as automakers are divided on which way the market goes from here. With new affordable models like the Volvo EX30 and Chevy Equinox EV, some see the momentum picking up in 2024.
Although the growth was slight in March, the EV share of the light vehicle market grew from 6.8% to 7.1%.
For the first three months of the year, electric vehicle registrations were up 5.2% (264,268), with a 6.9% share of the market.
Market leader Tesla had registrations fall 12% in March, dragging down the segment. Tesla’s market share fell to 52.4% compared to 61.5% a year ago. Meanwhile, Tesla’s new refreshed Model 3 could be the reason to blame with a 53% decline in registrations.
Tesla said the new Model 3 was supply-constrained in Q1. Some, including Tom Libby, associate director of industry analysis at S&P Global Mobility, expect the Model 3 to make a comeback this year.
Hyundai and Ford see EV registrations surge
Hyundai and Ford strengthened their positions in March as EV registrations accelerated. Ford had triple-digit EV registration growth, claiming the number two spot.
Driven by drastic price cuts, Ford sold 20,223 electric vehicles in the first quarter, up 86% from Q1 2023. The Mustang Mach-E was the second best-selling electric SUV, behind Tesla’s Model Y.
Ford’s F-150 Lightning remained the top-selling electric pickup in Q1, topping the Rivian R1T and Tesla Cybertruck.
Despite the success, Ford is pulling back on several EV initiatives. The company cut the workforce at its Rouge EV plant, where the Lightning is built, citing slower-than-expected demand. It’s also delaying around $12 billion in EV spending.
Meanwhile, Hyundai took third, with EV registrations doubling (+100%) in March. Hyundai set a new March and Q1 sales record with the IONIQ 5, IONIQ 6, and Kona Electric benefitting from strong demand.
Hyundai is one automaker that remains fully committed to selling EVs in the US, and it’s paying off. With some of the most affordable and fuel-efficient EVs on the market, Hyundai expects the momentum to continue this year.
In a new interview, Hyundai Motor America CEO Randy Parker told Electrek that the company remains “all-in” on EVs.
Parker said Hyundai is “putting its money where its mouth is” as it looks to separate itself from rivals. Hyundai’s first dedicated EV and battery plant in the US is opening in GA later this year, which will help improve competitiveness. EVs built at the facility are expected to qualify for the $7,500 federal tax credit.
Hyundai’s US boss told Electrek the company is focused on giving buyers who may be on the fence about buying an EV confidence with more range, faster charging, and unique designs.
Hyundai’s sister company, Kia, also saw EV registrations double, placing fifth. Kia’s new EV9 is already making a big impact, with over 4,000 units sold in Q1.
Luxury automakers BMW (fourth) and Mercedes-Benz (fifth) both saw double-digit EV registration growth in March.
Rivian, with EV registrations flat in March but up 30% in Q1, placed seventh. Rivian is upgrading its manufacturing plant in Normal, IL, to improve efficiency.
Several others lost market share, according to EV registration data. Chevy’s March registrations slipped 66%, with Bolt EV production ending last year. Chevy hopes new EVs like the electric Equinox and Blazer can help spark growth. The Blazer EV had 498 registrations, while the Equinox had 13 as they began hitting dealership lots.
According to March registration data, Toyota (798), Lexus (819), Subaru (427), Fisker (565), VinFast (496), and Lucid (477) were all below the 1,000 mark.
Meanwhile, Japanese rival Nissan had 1,661 registrations for its Ariya electric SUV as it gained ground in the US.
With new exciting models hitting the market, it should be interesting to see which automakers top the list at the end of the year.
Elon Musk is again claiming that Tesla’s always “coming next year” Roadster will be able to fly.
The prototype for the next-generation Tesla Roadster was first unveiled in 2017, and it was supposed to come into production in 2020, but it has been delayed every year since then.
It has become a sort of running joke, and there are doubts that it will ever come to market despite Tesla’s promise of dozens of free new Roadsters to Tesla owners who participated in its referral program years ago.
Musk said that Tesla will unveil a much-needed updated version of the next-gen Roadster since the design of the yet-to-be-revealed vehicle is already 7 years old, and he said that vehicle would come to market in 2025.
Now, Musk has again made a rare new comment about the new Tesla Roadster – saying that it “can fly”:
The CEO had previously talked about an updated version of the new Tesla Roadster with something called ‘SpaceX package’, which would include cold air thrusters that could theoretically make the vehicle “fly”, or rather jump and possibly hover, for short distances.
Electrek’s Take
It’s pretty funny that Elon is responding to a guy using the classic technology complaint that “we were promised flying cars, but they are never coming” with a vehicle that Tesla has been promising every year for the past 4 years.
At this point, the Roadster, like FSD, is something that entered the “put up, or shut up” phase.
Bring it or stop talking about it, especially the flying part. The Roadster was supposed to be the “halo effect” for electric cars. I’m not sure how the cold air trusters play into this.
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Tesla has reportedly halted Cybertruck deliveries amid a problem with the motor of its giant windshield wiper.
The Cybertruck is equipped with the biggest wiper put on a consumer vehicle.
It’s the result of Tesla’s design, which aimed to have a straight line from the front-end all the way to the apex of the roof – resulting in nowhere to hide wipers between the hood and the windshield.
Instead, Tesla opted to have a single giant exposed wiper with a vertical resting position for aerodynamic reasons.
In my review of the Cybertruck, I noted that we had some problems with it, like starting on its own for no reason and staying down as a resting position rather than up. However, I chalked this up as being due to Tesla’s notoriously bad auto windshield wiper system, which is common on all Tesla vehicles – not just the Cybertruck.
Now, many Cybertruck buyers are reporting that Tesla has delayed their deliveries, indicating a roughly week-long halt on deliveries, and some were told by Tesla that it had to do with the windshield wiper motor (via Cybertruck Owners Club).
Some buyers were told that Tesla would have to replace the windshield wiper motor on all Cybertruck, but this has yet to be confirmed.
No recall notice has been released yet.
Electrek’s Take
As I previously reported, we had some issues with ours last month when reviewing the Cybertruck.
I chalked it up to the terrible Tesla auto wiper, but now that I think about it, it’s possible that it wasn’t that.
Tesla’s auto wipers are known to start when they shouldn’t and don’t start when they should. The Cybertruck’s wipers were doing that, but they were also starting and stopping at the bottom rather than at the top position and just staying there.
I’m not sure if it has to do with this or if it’s completely unrelated. I expect that we will learn more in the next few days.
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Bobcat unveiled the all-new TL25.60e electric telehandler concept at Intermat last month, with a 2.5 ton rated capacity, three electric motors, and the promise of unmatched energy efficiency and performance that’s objectively superior to diesel.
The Bobcat TL26.60e gets its energy efficient edge from its “actively cooled” li-ion batteries, which are designed to deliver consistent performance in any weather and help fleet operators maintain low running costs while maximizing efficiency and, as a consequence, savings.
Speaking of the cab, it’s the same one found in Bobcat’s larger TLS models, despite the TL26.60e’s smaller footprint. The compact nature of the the machine’s electric components means there’s room for stuff like that – and, as a consequence, more room for operators.
“At Bobcat, we are committed to innovative design that prioritizes both cutting-edge technology and operator wellbeing,” says Vijay Nerva, Innovation Lead, Bobcat EMEA. “Our integration of ergonomics and digitization, exemplified by the transparent T-OLED screen, allows us to introduce customizable, interactive features without compromising the comfort and spacious design of our cabs.”
The TL26.60e features a top speed of 25 km/h, a 6 meter lifting height, and a 2.5 ton lifting capacity. The liquid-cooled battery has a 30 kWh capacity, which should be good for a full shift at most low-speed job sites.
Electrek’s Take
Bobcat’s electric telehandler concept is still just that, but as more and more construction companies come up agains no-drip job sites, low emissions zones, tightening noise regulations, and the ESG goals of both corporate and government clients, it seems like only a matter of time before machines like this become more the rule than the exception.