Legacy OEM retrenchment, massive losses, SDV burdens, hybrids rise & select resilience
Key Questions
What were US EV sales in Q1 and how did they change year-over-year?
US EV sales in Q1 dropped 28% to 212k units. This decline reflects broader market challenges including inventory surpluses and discounts.
How did Tesla perform in Q1 US EV sales?
Tesla reported 358k deliveries, missing expectations with a 50k surplus in inventory. The company cut Model 3 prices, amid rumors of Model 2 and promotions for Cybertruck and FSD.
Which legacy automakers saw significant plunges in Q1 EV sales?
GM, Nissan, Mazda, Subaru, and Ford experienced sharp declines in Q1 EV sales. This retrenchment is linked to massive losses and SDV burdens.
Which companies showed resilience or growth in Q1 EV sales?
Toyota and Lexus set Q1 EV records with +79% growth, while Rivian grew +20% alongside VW and Uber. BMW implemented $9k price cuts post-SiC updates.
What discounts were offered by automakers like Ford, Polestar, and BMW?
Ford offered up to $9,000 discounts and free chargers; Polestar targeted Tesla owners with $21,000 off; BMW cut prices shortly after range increases. These moves address softening demand.
Why are used EV prices falling despite market activity?
Used EV prices continue to drop amid a depreciation crisis and high inventory. This occurs even in a busy market, pressuring resale values.
How are hybrids performing amid EV slowdowns?
Hybrids remain resilient as EV growth slows, with automakers diverging in electrification strategies. Quebec is shifting toward hybrids amid EV challenges.
What is the status of Tesla's upcoming models like Model 2 and Cybertruck?
Rumors swirl around the 2026 Model 2 with updates on price and production; Cybertruck is reviewed as an underrated EV. Tesla also promotes FSD features.
Q1 US EV -28% to 212k: Tesla 358k miss/50k surplus/inventory/Model3 cuts/Model2 rumors/Cybertruck/FSD; GM/Nissan/Mazda/Subaru/Ford plunges; BMW $9k cuts post-SiC; Toyota/Lexus Q1 EV records/+79%; Rivian +20%/VW/Uber; Kia lag; dep crisis/used fall; $114B Al; discounts/hybrids/Quebec shift.