Honda U.S. EV pivot & global OEM retreats
Key Questions
What was the overall trend in US EV sales for Q1?
US Q1 EV sales dropped 28%, totaling around 212k units. Tesla maintained a 57.5% market share despite missing targets, while legacy automakers slumped.
How did Rivian compare to Ford in Q1 EV sales?
Rivian delivered over 10k vehicles, surpassing Ford's 7k units which fell 70% year-over-year. This highlights Rivian's stronger performance amid market challenges.
What actions did GM take regarding its EV production?
GM idled its Factory Zero plant and boosted truck production as EV sales fell. Despite rivals pivoting to hybrids, GM is sticking with its EV strategy.
How are Kia EV sales performing in the US?
Kia EV sales are holding steady in Q1 2026, with March sales flat. This contrasts with broader legacy slumps.
What were Toyota's EV sales figures for Q1?
Toyota sold over 25k EVs in Q1 US, surpassing Ford, with 569k total electrified vehicles. Toyota is rising fast in the US EV market.
How did Hyundai perform in Q1 EV sales?
Hyundai saw a 14% increase in EV sales. Highlights include the Boulder NYIAS SUV, IONIQ9, and Elexio models.
What affordability-focused EVs were showcased at NYIAS?
NYIAS featured BMW iX3 win, Kia EV3/EV4, Subaru Getaway, Hyundai, and Mercedes GLC EV as counters to affordability concerns. These aim to address market slumps.
What is the status of Honda's EV strategy in the US?
Honda is pivoting away from aggressive EV plans in the US amid retreats by global OEMs. This aligns with broader legacy challenges.
US Q1 EV -28% (Tesla 57.5%), Rivian 10k+ > Ford 7k (-70%), GM idles Factory Zero/boosts trucks, legacy slumps; Kia EVs holding steady/March flat; Toyota 25k+ (569k total electrified); Hyundai +14%/Boulder NYIAS SUV/IONIQ9/Elexio; NYIAS affordability counters: BMW iX3 win/Kia EV3/EV4/Subaru Getaway/Hyundai/Mercedes GLC EV.