In January 2024, China's electric vehicle (EV) market saw a significant increase in sales, with reports indicating a 92% year-on-year jump, nearly reaching 600,000 vehicles, and electric cars accounting for 25% of new car sales in China in 2023. Specific Chinese EV manufacturers reported substantial deliveries: NIO delivered 10,055 EVs, XPEV 8,250, and LI 31,165 vehicles. The BYD Group's global sales also increased by 33.9% compared to the previous year, totaling 201,493 units. In contrast, the US EV market is experiencing a slowdown, with new vehicle sales anticipated to drop by 1.5% compared to the previous year, decreasing to 15 million Seasonally Adjusted Annual Rate (SAAR). Ford reported an approximately 11% fall in January sales of electric vehicles amid a shrinking demand, while its hybrid vehicle sales surged. However, California countered the trend with a record number of new electric cars sold in 2023, achieving a 29% increase over the previous year. Used car prices in the US continued to decline for the eighth consecutive month, reaching their lowest levels since June 2021, down 13% from the peak in July 2022. Amidst these market dynamics, BYD signed a land pre-purchase agreement for a passenger car factory in Hungary, indicating a significant expansion into the European market.
Some automakers, like Ford and Tesla, are reducing production of electric cars as sales have dropped. Can California sustain its record pace and meet the state mandate? https://t.co/A3YyNdB1px
Ford hybrid sales jump in January as EVs slide | Fox Business - https://t.co/ddZ2KTMc0y #GoogleAlerts
Here's why US EV, hybrid sales rose year-over-year in 2023 https://t.co/wjx69SU4bi by @michelle0728
While California is meeting its goals for new electric car and truck adoption, sales slowed last year, @AlejandroLazo reports. https://t.co/DqlvI2H4c5
U.S. auto sales softened in January https://t.co/FaMxodjF42
Ford EV sales fall in January amid demand slowdown https://t.co/tNNsLfslED https://t.co/SKqFNlrRm2
Ford's EV sales slip in January as Mustang Mach-E deliveries fall 50% https://t.co/Xup5VBFcka by @EVPeteJohnson
#China’s New Energy Vehicle Sales Are Softening in Early 2024 Shipments to dealers dropped 37% in January from December: PCA Automakers including BYD and Tesla have rolled out price cuts #oott https://t.co/dEuUA8zHuQ
Ford's hybrid vehicle sales surge to offset EV decline in January https://t.co/Wzoe2SmCsI
Ford sales jump in January, topping Toyota's, but EV growth stalls https://t.co/qFSfXXWCwK by @Pras_S
Ford EV sales fall in January amid demand slowdown #oott https://t.co/lvSYPkQaNw
Ford Sales Show EVs Are Struggling While Hybrids Thrive https://t.co/edq0VQIICA
⚠️ FORD EV SALES FALL IN JANUARY AMID DEMAND SLOWDOWN (Reuters) Ford Motor reported an about 11% fall in January sales of electric vehicles (EVs) on Friday, as the industry grapples with a shrinking demand for the cars that are typically costlier than their gasoline-powered… https://t.co/zCToULNSgf
🇺🇸 United States All Car Sales (Jan) $USD Actual: 3.01M Previous: 3.08M
Wards vehicle sales softer in January at 15 million vs. 15.7 million est. & 15.83 million in prior month … lowest since March 2023 but still relatively healthy compared to past couple years @WardsAuto https://t.co/sUeLztgIHL
Chinese EV sales drop in Jan amid decreased demand https://t.co/fQrch9P5sY
US Auto Vehicles Sales Decrease to 15 million SAAR in January, Down 1% YoY and Down 5.2% from December - Wards Intelligence $LAD $ABG $AN $CVNA $KMX $PAG $SAH $GPI $ORLY $AZO https://t.co/ECusgoaYk8
#Chinese #EV makers stage rally on strong deliveries in Jan, led by Li Auto surging up to nearly 9%. https://t.co/haGgRmRP6L https://t.co/fqU0XTEIZz
Wholesale used car prices continued to fall in January 2024. - 1.0% vs prior month - 10.2% vs Jan 2023 https://t.co/6685zwKimf
BYD signed a land pre-purchase agreement with the Szeged City Government in #Hungary on January 30, for a @BYDGlobal passenger car factory, marking a substantial breakthrough in BYD's localization process in Europe. #ElectricVehicle #byd https://t.co/8u8SCIrVhi
Sales of electric cars in California reached record levels last year, with 446,961 sold, up 29% from 2022. But can charging keep up? https://t.co/8MVvmso6KB
Californians bought a record number of new electric cars in 2023, achieving a 29 percent jump over the previous year. https://t.co/YgnMf7VW7i https://t.co/4WdvlcjLxv
🗞️ Driven by slower seasonal sales and reduced demand for EVs, US new vehicle sales are anticipated to drop by 1.5% in January compared to the previous year. https://t.co/LBTWRSbcte https://t.co/nAp4eH2PY7
The BYD Group's global sales increased by 33.9% in January 2024 compared to a year earlier at 201,493 units. Solid gain for the rejuvenated Denza brand. Fangchengbao and Yangwang sales continued their upward trend. @BYDCompany @BYDGlobal @BYD_Europe https://t.co/iP9lY2cM2v
25% of New Car Sales in China Were 100% Electric in 2023! https://t.co/bRkRbzQJZj
Used Car prices in the US declined in January for the 8th month in a row. Now at their lowest levels since June 2021, down 13% from the peak in July 2022. https://t.co/V3e0rSmjti
$NIO delivered 10,055 EV's in Jan, $XPEV 8,250 and $LI 31,165 vehicles. $TSLA $RIVN
Those latest "EV sales are stalling" numbers in full… Caijing reports Chinese "NEV" (mostly EV) sales jumped 92% year-on-year in January, reaching nearly 600k (Side note: Remember how the US was celebrating 1m EV sales in the first 10 months of 2023?) https://t.co/BnfVKRkVHb