Automobile, EU (Common Wealth) _ According to a recent Automotive News report based on Experian data, although certain companies are experiencing tremendous sales growth, others are failing. In comparison, new all-electric car registrations in the United States climbed by 72 percent year on year to nearly 350,000 in the first four months of this year.
Tesla, for example, raised its volume by 52 percent year on year to around 212,000 (60.8 percent of total volume). The other 24 brands reported 136,416 (a 116 percent increase year on year).
Cadillac, GMC, Kia, Lucid, Nissan, Porsche, and Rivian are among the promising brands with relatively low numbers, according to Automotive News. Their outcomes were deemed to be lower than expected, and in some cases, lower than a year before.
There are several reasons for this, including parts supply restrictions for some manufacturers and a lack of qualifying for the $7,500 federal tax credit for others. There are also broader variables to consider, such as interest rates, inflation, and economic worries.
Kia, for example, reported a 27% decline in new BEV registrations from January to April. The Kia EV6 and Kia Niro EV are both South Korean imports. The Nissan Leaf, which was once the best-selling electric vehicle, is down 48 percent year on year, while the all-new Nissan Ariya sold 2,650 units.
There were 1,383 Cadillac Lyriq registrations. According to the publication, the brand “is gradually ramping up the Lyriq to ensure quality.” Porsche is down 25% year on year with 2,114 Taycan registrations (all types). The issue appears to be supply limits in this case.
According to Automotive News, there may be a demand issue with the Lucid (2,298 units) due to “weakening demand due to a lack of market awareness. “Nonetheless, the start-up sold more Lucid Airs than Porsche Taycans, which are priced in the six-digit range.
GMC is an intriguing case in point; only 28 units were sold, but we know there was a manufacturing pause. Other brands that sold fewer than 1,000 BEVs were Mini (862), Lexus (394), VinFast (86), Jaguar (81) and Mazda (37).
The Rivian brand (9,302) sold over 2,300 copies per month on average. There were some ramp-up challenges along the road, and growing R1T and R1S manufacturing remains the company’s primary focus. However, we’re not sure we can agree that the brand is failing – at least not in the same manner as the majority of the other companies named are, because Rivian is expanding volume.
