Kia’s EV sales in the US doubled in the first half of the year, hitting a new record. After selling over 5,000 EVs for the third straight month, Kia looks to keep the momentum going in the second half of 2024.

Kia’s EV sales hit new record in first half of 2024

Kia is on a roll in the US with affordable, long-range models like the three-row EV9 and EV6, reaching buyers.

After a record-breaking month in May, with EV sales doubling, Kia hit a new record with 29,392 electric cars sold in the first half of 2024.

Kia sold over 5,000 EVs for the third straight month in June, with 1,905 EV9s and 2,171 EV6s sold.

After deliveries kicked off in December, sales of Kia’s three-row EV9 electric SUV reached 9,671 through the first half of the year. Kia kicked off EV9 production in Georgia in May as the first EV built in the state.

Starting under $55,000 (excluding destination fee), Kia calls the EV9 a “wake-up call” to the industry. With the $7,500 federal tax credit, prices fall to as low as $48,995. The long-range EV9 gets up to 320 miles range, starting at $60,695.

Meanwhile, Kia sold 10,941 EV6 models, up from 8,328 at this time last year. The company does not provide a breakdown for Niro EV sales, but it sold at least 924, with over 5K EVs sold last month.

Kia’s EV6 is one of the most affordable and fuel-efficient EVs in the US. The 2024 Kia EV6 starts at just $42,600. For the Light Long Range RWD EV6 with up to 310 miles range, price start at $45,950.

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The growth comes as Kia’s new low-cost EV3 is already off to a hot start in its domestic market.

After opening orders last month in Korea, starting at $30,700 (KRW 42.08 million), Kia’s EV3 has already secured over 10,000 reservations.

Meanwhile, massive new incentives allow you to save up to $12,800 on select EV6 leases in the US.

Have you been eyeing Kia’s new electric vehicles? We can help you find the perfect model at the right price. You can use our links below to find deals on Kia’s EVs at a dealer near you.

Electric vehicle maker Rivian (RIVN) delivered nearly 13,800 EVs in the second quarter of 2024. Although Q2 deliveries remained flat from Q1, Rivian plans to ramp up output in the second half of 2024. Here’s what to expect.

Rivian releases Q2 2024 deliveries

Rivian delivered 13,790 vehicles in Q2, up slightly from the 13,588 handed over in the first three months of 2024. However, it’s down from the 13,972 delivered in Q4 2024.

The slowdown was expected as Rivian shut down its Normal, IL manufacturing plant for upgrades. Rivian expected Q2 deliveries to be in the 13,000 to 13,300 range.

Rivian says the changes will significantly reduce costs while boosting efficiency. In other words, Rivian will be able to get vehicles out quicker, at a lower cost.

CEO RJ Scaringe has already warned investors that the second quarter could be “messy” amid the plant shutdown.

Rivian produced 9,612 vehicles in Q2, down from 13,980 in Q1 and 17,541 in the fourth quarter of 2023. However, it was enough to top its guidance of 9,100 to 9,300 units.

Meanwhile, Rivian said it remains on track to hit its 57,000 production goal in 2024. Rivian will release its Q2 financial results on August 6, 2024, after the market closes.

During its first Investor Day last week, Rivian gave us a glimpse into the EV maker’s future. Rivian reaffirmed it expects its first gross profit in Q4 2024.

Rivian’s stock surged following a new partnership with Volkswagen. The new pact earned Rivian new backing from several analysts, including Dan Ives from Wedbush. Ives said the VW deal could “change the game for Rivian” as it strives for its first profit.

Looking further out, Rivian’s next-gen R2 is expected to significantly expand its market. Following the R2 launch in early 2026, Rivian expects production capacity to reach 215,000, up from 150,000 currently.

The R2 will account for 155,000, while R1T and R1S are expected at 85,000. Rivian’s commercial van will account for the remaining 65,000.

Tesla (TSLA) has officially released its Q2 2024 delivery and production results. The automaker confirmed having delivered 444,000 electric vehicles last quarter.

Tesla Q2 expectations

Wall Street has adjusted its expectation this quarter to a consensus of about 438,000 deliveries, which is down from the 466,000 vehicles Tesla delivered during the same period in 2023.

As we reported last week, the expectation came down over the last few days after they were at ~450,000 deliveries last week.

Tesla Q2 results

Tesla confirmed that it produced 411,000 vehicles and delivered 444,000 vehicles – beating expectations by a slight margin:

In the second quarter, we produced approximately 411,000 vehicles and delivered approximately 444,000 vehicles. We deployed 9.4 GWh of energy storage products in Q2, the highest quarterly deployment yet.

For the first time in a while, Tesla delivered more vehicles than it produced, but that’s partly because tens of thousands of vehicles were in transit at the end of last quarter.

Tesla still doesn’t break down sales by models. It bundles Model 3 and Y together and all other vehicles in the same “other models” category:

Tesla also released its energy storage deployment, which was exceptionally high at 9.4 GWh this quarter.

That’s not only a new record, but more than twice the amount deployed in the last record quarter.

Tesla’s stock (TSLA) is up 5% on the news.