After Tesla, the surprising next best-selling electric vehicle in America is this electric bike
In a world where electric vehicles are becoming increasingly popular, it’s no surprise that the Tesla Model Y and Model 3 are the best-selling EVs in the United States. But what if I told you that the third best-selling electric vehicle in America isn’t a car at all? It’s actually an electric bike!
Yes, you read that right. The Lectric XP 3.0 e-bike is the surprising champion that’s secured its place as the third best-selling EV in the nation.
And to be honest, it’s not even close. As the company explained, “In 2023, Lectric helped electrify more Americans than Ford, Volkswagen, Hyundai, Rivian, Lucid, BMW, and Porsche combined.”
That might sound surprising, but those in the e-bike industry will likely already know that the Lectric XP 3.0 has been a runaway success. While the company doesn’t list exact sales figures, we know that its best-selling model, the XP 3.0, handily secured the spot of third best-selling EV in the US. And of course its significantly more affordable price of just $999 didn’t hurt its placement on the list, either.
“Lectric eBikes is one of the fastest-growing electric bike companies in America, selling more than 400,000 eBikes in its first 4 years,” the company continued. “Most of this growth is powered by the success of Lectric’s most popular electric bike, the Lectric XP, which is the third most popular EV in America behind only the Tesla Model 3 and Model Y.”
Third best-selling electric vehicle in the US is an e-bike
The Tesla Model Y and Model 3 took the two top spots for 2023 at 394,497 and 220,910 units sold, respectively. And while we don’t know exactly how many XP 3.0 electric bikes were sold last year due to Lectric being a private public, it was likely in the high five figures. Lectric’s total of over 400,000 sales from 2019 to 2023 includes its first year with minimal numbers while it was still ramping up production. Those sales figures also include several other models from Lectric, though the XP 3.0 is by far the company’s biggest mover.
For comparison, the fourth spot on the list of best-selling EVs in the US, the Chevy Bolt EV/EUV, sold just over 62,045 units in 2023.
The rise of the Lectric XP 3.0
The Lectric XP 3.0 has quickly become a favorite among Americans, thanks to its impressive features and affordable price point. The folding fat tire e-bike offers a unique combination of power, versatility, and convenience, making it an ideal choice for urban commuters and outdoor enthusiasts alike.
With its 500W motor (outputting closer to 1,000W peak), multiple battery size options, and fat tire design, the Lectric XP 3.0 is well-equipped to handle a variety of terrains and riding conditions.
Why the Lectric XP 3.0 is outselling traditional EVs
Several factors likely contributed to the Lectric XP 3.0’s unexpected rise to the top of the EV charts. First and foremost, its affordability sets it apart from its four-wheeled counterparts. While a new Tesla will set you back tens of thousands of dollars, the $999 Lectric XP 3.0 comes in at a fraction of the cost, making it accessible to a wider range of consumers.
Additionally, the convenience and versatility of electric bikes make them an attractive option for many. The Lectric XP 3.0’s folding design allows for easy storage and transport, making it perfect for city dwellers with limited space. Its ability to tackle both urban streets and off-road trails adds to its appeal, providing riders with a flexible and enjoyable mode of transportation.
The last several years have seen an increasing number of drivers becoming riders as e-bikes have grown in popularity as car alternatives. While some commuters have completely gotten rid of their cars in favor of e-bikes, many more have found that an e-bike can be a great supplement to a car, replacing it for common local trips. That leaves the car for longer journeys or situations with more passengers or cargo needs. Though there too, cargo variants of the Lectric XP 3.0 with a rear passenger bench or cargo baskets have proven popular for both roles.
The environmental impact
Another significant factor driving the popularity of the Lectric XP 3.0 is its positive environmental impact. As more people become conscious of their carbon footprint, electric bikes offer a greener alternative to traditional cars and motorcycles.
By choosing an e-bike, drivers who become riders can reduce their reliance on fossil fuels and contribute to a more sustainable future.
A new era of transportation
The success of the Lectric XP 3.0 and the growth of e-bikes as a whole signifies a shift in the way Americans view transportation. Sure, it may only be a game of catchup to Europe and Asia, but just because America is late to the game doesn’t make it any less important.
As urban centers become more congested and the demand for eco-friendly alternatives grows, electric bikes are poised to play a crucial role in the future of mobility. The Lectric XP 3.0’s impressive sales figures are a testament to the growing acceptance and enthusiasm for this mode of transport.
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If you’re considering going electric, May will be a great time to score a deal on an EV lease. Automakers are slashing lease prices on some of the most popular EVs to move inventory – here are four standouts.
Nissan Ariya SUV
The Nissan Ariya SUV has an MSRP of $41,805. Its lease term is 36 months, with $4,409 due at signing and a mileage allowance of 10,000 a year. Monthly payment? A sweet $129!
Nissan cut the 2025 Ariya Engage’s price by $144 in April, so it now has an effective monthly cost of $251 – that’s seriously affordable for an electric SUV. If you’re already a Nissan driver, then you’re going to get an even better deal, because Nissan is offering a $1,000 loyalty discount on the Ariya, which brings its effective cost down to $224 per month.
CarsDirect, which sniffed out this deal, thinks this Ariya deal will be in place until Memorial Day, so take advantage of tariff-free pricing while you can.
Click here to find a local dealer that may have the Nissan Ariya in stock. –trusted affiliate copy
Honda Prologue SUV
The Honda Prologue SUV has an MSRP of $48,850. Its lease term is 36 months, with $1,399 due at signing and a mileage allowance of 10,000 a year. The monthly payment on the Prologue is $239.
The 2024 Honda Prologue has up to $18,800 in rebates, and the price includes a $1,000 lease loyalty discount or conquest offer. In California and other ZEV states, the EX has an effective cost of just $278 per month; in other parts of the US, pricing will be around $30 higher. This offer ends July 7.
Click here to find a local dealer that may have the Honda Prologue in stock. –trusted affiliate copy
Tesla Model 3
The Tesla Model 3 has an MSRP of $43,880. Its best lease term is 24 months, with $1,044 due at signing and a mileage allowance of 10,000 a year. The monthly payment on the Model 3 is $349.
The 2025 Tesla Model 3 still has the $7,500 federal government EV rebate. Several months ago, Tesla reduced the amount due at signing on all Model 3s. And for those who want to lease a Long Range Model 3, the effective cost can be as low as $393 per month.
You can lease the Model 3 for 36 months, but the folks at CarsDirect found that the better deal will be had on 24-month leases. They compared the Model 3’s MSRP to the 2025 Lexus IS 300 F Sport’s MSRP, which is nearly identical, and the Model 3 was around 30% cheaper to lease.
Acura ZDX
The 2024 Acura ZDX has an MSRP of $65,850. Its best lease term is 36 months, with $4,699 due at signing and a mileage allowance of 7,500 a year. The monthly payment on the ZDX is $299.
The 2024 ZDX is Acura’s cheapest vehicle to lease because it features up to $29,450 in lease cash. However, the best deal is limited to California and ZEV states. If you cash in on a loyalty discount or conquest cash, the effective cost is $430 per month. This offer runs til June 30.
Click here to find a local dealer that may have the Acura ZDX in stock. –trusted affiliate copy
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Ford (F) reported its first-quarter earnings, beating Wall Street’s revenue and EPS expectations. However, with Trump’s auto tariffs, Ford is suspending full-year guidance. Here’s a breakdown of Ford’s Q1 2025 earnings
Ford Q1 2025 earnings preview
After crosstown rival General Motors cut its full-year financial guidance last week, investors are waiting to see if Ford will follow suit.
Ford’s previous 2025 forecast called for EBIT of $7 billion to $8.5 billion and capital expenditures between $8 billion and $9 billion.
The biggest threat is Trump’s new auto tariffs, which include a 25% duty on imported vehicles and many parts. Since Ford builds a greater percentage of vehicles in the US than any other major automaker, outside of Tesla, it isn’t expected to see as big of an impact.
CEO Jim Farley called it “an opportunity for Ford,” during an interview with CNN last week, saying the company has a “different footprint, a different exposure for tariffs.”
Ford imports around 21% of the vehicles it sells in the US, while GM imports around 46%. According to Estimize, Wall St expects Ford to post Q1 EPS of $0.0 on revenue of $38.02 billion.
The company reports earnings for each of its three business units, Ford Blue (gas-powered vehicles), Model e (electric vehicles), and Ford Pro (commercial and software business).
In the fourth quarter, Ford’s EV unit (Model e) lost another $1.4 billion while Pro and Blue each reported an adjusted EBIT of $1.6 billion.
Financial breakdown
Ford beat Wall Street estimates, reporting first-quarter revenue of $40.7 billion with an adjusted EPS of 0.49.
- Q1 2025 Revenue: $40.7 billion vs $38.02 billion expected.
- Q1 2025 Adjusted EPS: $0.49 vs $0.0 expected.
The company posted adjusted EBIT of $1 billion, down 63% from Q1 2024. Ford said its first-quarter EBIT suffered a nearly $200 million hit from added tariff costs, primarily in Ford Blue and Ford Pro.
Ford Pro generated an EBIT of $1.3 billion, Ford Blue $96 million, and Ford Model e reported an EBIT loss of $849 million.
For Model e, the company is focused on improving gross margins and “exercising a disciplined approach to investments in battery facilities and next-generation products.” Although still a nearly $1 billion loss, it’s still a $500 million improvement from Q1 2024.
Ford said higher Model e revenue was driven by new EVs launching in Europe, like the electric Explorer and Capri.
The company said its “Power Promise” promotion, which includes a free home charger and several other benefits, has helped drive demand in the US.
Although it’s tracking within its previous full-year adjusted EBIT guidance of between $7 billion and $8.5 billion, Ford is suspending full-year guidance due to the uncertainty surrounding tariffs.
Ford estimates the full-year gross cost of tariffs to be around $2.5 billion. It expects a tariff-related net adverse adjusted EBIT impact of about $1.5 billion for the full year 2025.
Ford also extended its “From America, For America” campaign last week. The promo includes employee pricing on most 2024 and 2025 models and now runs through July 4.
Check back for more info from Ford’s first quarter conference call. Ford is also hosting its annual meeting on Thursday, May 8, where we should learn more about its EV plans and how it will navigate the new tariffs.
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