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EV Sales Slide While Hybrids Climb
California, as usual, led the country in EV registrations in the fourth quarter, but the U.S. as a whole saw a 43% year-over-year volume decrease.
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SEARCHMENUSEARCHCalifornia, as usual, led the country in EV registrations in the fourth quarter, but the U.S. as a whole saw a 43% year-over-year volume decrease.
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Rankings based on latest Kelley Blue Book reports.
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The fourth quarter typically accounts for the majority of the yearly depreciation, but this year the declines started in Q3 and are continuing to trend higher than typical for this time of year.
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Tesla is evaluating whether Model 3 and Model Y EVs made in Gigafactory Shanghai could be sold in North America starting in 2023, sources say.
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The Japanese automaker forecasts operating profit for the fiscal year will hit 360 billion yen ($2.5 billion), up 100 billion yen from its July forecast.
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Mitsubishi Corp. has raised its full-year net profit forecast by 21% to a record 1.03 trillion yen ($7 billion).
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The Estimated Average Weekly Sales Rate dropped to 53% last week.
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New U.S. EV tax credit changes are coming under fire as Japan's government warns these credits could thwart further EV investment.
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Volvo Car AB of Sweden reported sales grew 7% year-over-year in October.
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Demand for new vehicles in the United States remains strong despite rising interest and loan rates, reported CEO Tomomi Nakamura.
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New light-vehicle sales in October 2022 totaled a SAAR of 14.9 million units, the second-highest monthly total this year.
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