If $50,000 EVs still lose $6,000, when will EVs become profitable?
Legacy automakers are still losing thousands of dollars on many EV sales, according to newly published analysis from the Boston Consulting Group.
Incentives latest news
Electric Car Sales FY24 Vs FY23 – Nexon, Comet, XUV400, eC3, Ioniq5, EV6, Atto3
As per data released by Federation of Automobile Dealers Associations (FADA), the electric car segment March 2024 has recorded a total of 90,996 unit retail sales in FY2024. This was a 91.37% growth over 47,551 units sold in FY2023 relating to a volume growth of 43,445 units. Several factors have led to this astronomical increase. While awareness among buyers has greatly intensified, favourable government incentives coupled with an overall advancement in battery technologies along with the setting up of charging stations at strategic locations, have all played a major part in this growth.
2024 Ford Bronco Sport prices cut by as much as $1,980
Remember not long ago, when some cars were especially hard to get and certain automakers said they wanted to retain the ordering model instead of going back to incentives? Those hopes are coming to nothing, from the look of dealer lots and incentive listings at places like Cars Direct. It appears that Ford might have tired of putting money on the hood of the Bronco Sport and decided to lower the Escape-based crossover's MSRP. This is welcome news to us, as just three months ago, we wrote, "As much as we like the Bronco Sport, it is very pricey for an SUV of its size. It got even worse for 2024 since the base trim level was discontinued, leaving the Big Bend trim as the point of entry."
BMW EV sales surge even as rivals struggle with weak demand
BMW AG’s sales of fully electric vehicles at its core brand surged in the first quarter, outperforming rivals like Tesla and Volkswagen, which have struggled to cope with faltering demand.
Should you buy a used EV? Maybe, but it’s complicated
Electric cars are slowly but surely getting cheaper. Over the past year or so, Ford and Tesla have been discounting their most popular electric cars while other brands, like Rivian, are laying the groundwork for all-new cheaper models.
Ford Is Paying Camaro, Charger, and Challenger Owners $1K To Buy a New Mustang
Given fluctuations in the muscle car market — cancellation of the Camaro, tightening environmental regulations, the potential of muscle-car-styled EVs — anyone invested is likely to try innovative strategies to keep customers engaged. Ford's got a great one: it'll straight up pay owners of Chevy Camaros, Dodge Chargers, and Dodge Challengers $1,000 to switch to a new Mustang.
New Jersey marks up EV ownership with additional $1,000 fee
New Jersey is introducing an additional registration fee for EVs. Starting July 1, drivers will pay an upfront fee of more than $1,000 on top of existing registration fees.
Top 5 highlights of the Mahindra 3XO, Toyota Taisor, and Kia Sonet
The fiercely contested car segment in India is undoubtedly that of the SUVs. Apart from the mid-size ones, the sub-four metre crossovers have always been in the limelight, including the Maruti Suzuki Vitara Brezza, Ford EcoSport, Tata Nexon, Mahindra XUV300, Toyota Urban Cruiser, Nissan Magnite, and the Renault Kiger. The newest additions are the Kia Sonet, Toyota Taisor (based on the Maruti Fronx), and the upcoming Mahindra 3XO (XUV300 facelift). Let's take a look at the common top five highlights of these crossovers.