Toyota is set to accelerate its production of electric vehicles (EVs) under both its flagship Toyota and upscale Lexus brands, as reported by the Nikkei newspaper. This move reflects Toyota’s commitment to keeping pace with the global shift towards electric mobility. According to the Nikkei report, the Japanese automotive giant is poised to intensify its
The seemingly excessive number of electric vehicles (EVs) on dealership lots isn’t indicative of dwindling demand; instead, it’s a result of the EV market’s rapid growth causing temporary imbalances, as explained by industry experts. While over 91,000 EVs currently sit unsold, this oversupply is a complex phenomenon. EVs represent around 8.6% of retail sales and
Toyota, the world’s largest automaker, has reported an impressive performance in the first quarter, nearly doubling its operating profit. This growth was attributed to increased sales and productivity, as well as the favorable impact of a weaker yen. The company’s operating profit for the three months through June reached 1.12 trillion yen ($7.85 billion), a
Ford’s electric vehicle (EV) ambitions are surpassing the current demand, as indicated by the company’s sales numbers, EV supply, and dealer sentiment. Ford seems to be facing a challenge of having more Mustang Mach-E and F-150 Lightning pickup trucks than it can sell. In the second quarter of 2022, Ford dealers were able to sell
Carvana, a pioneer in the online used car marketplace, has recently released its list of the top ten best-selling electric vehicles (EVs) for the first half of 2023. The rankings are based on the number of units sold, with the Tesla Model 3 leading the pack as the most popular EV. Carvana’s success in the
According to analysts and industry data, the electric vehicle (EV) market in the United States is experiencing growth, but at a slower pace than expected. This has resulted in a buildup of unsold EVs at some automakers’ dealerships and has prompted Tesla to implement new price cuts. The rising inventories and price reductions may indicate
Finding an electric vehicle (EV) for a test drive and purchase can be a challenging task unless you have a clear idea of what you want and are prepared to make a financial commitment and wait. The Sierra Club recently conducted a nationwide study on the electric vehicle shopping experience, and their findings emphasize the
