Count on November to be filled with headlines concerning the presidential election—and record-breaking electrical automobile gross sales. With a nail-bitingly shut race, experiences counsel that automobile patrons are holding again on main life selections. Many are ready for the election end result earlier than driving residence a brand new set of wheels. However Hyundai and Kia appear to have bucked that development, reporting document October gross sales fueled by all-electric and hybrid fashions.
Welcome again to Vital Supplies, your each day round-up of stories and occasions shaping the world of electrical automobiles, software-defined autos and autonomous tech.
Additionally on right now’s dance card: Toyota has partnered with Nippon Telegraph and Phone Company (NTT) in Japan to make use of synthetic intelligence and automatic driving programs to scale back street accidents. It appears like Tesla‘s strategy is catching on. And whereas the Japanese automaker prepares for an automatic future, its present gross sales aren’t wanting all that nice. Toyota reported a giant drop in its world automobile manufacturing for the primary time in 4 years. Preserve studying to search out out why that occurred.
30%: Electrical And Hybrid Hyundai And Kia Fashions Are Having A Second
Each Hyundai and Kia have some momentum going into the ultimate quarter of the yr, unfazed by the turbulent and chaotic presidential election season the place the auto business, and electrical autos particularly, have endured sustained vitriol for no good motive.
Hyundai mentioned its general auto gross sales in October elevated 18% to 71,802 items, whereas Kia gross sales elevated 16% to 68,908. Hyundai mentioned fashions just like the Ioniq 5, Santa Fe Hybrid and Tucson Hybrid helped it obtain these document numbers.
Ioniq 5 gross sales have been up 51%, with Hyundai delivering 4,498 items in October. Sadly Ioniq 6 gross sales skilled a pointy drop of 32%, with solely 837 items bought. That is a disgrace as a result of the Ioniq 6, at the least to this pair of eyes, is among the best-looking automobiles in the marketplace. And it is no slouch on the subject of vary and efficiency. It simply occurs to be a sedan in an SUV-dominated world. (Do not inform the Toyota Corolla I mentioned that.)
Talking of SUVs, Santa Fe Hybrid gross sales have been up 136% and Tucson Hybrid gross sales grew 140%.
Here is what Randy Parker, the CEO of Hyundai Motor America, mentioned in a press launch:
Hyundai has set a complete gross sales document within the month of October for the third consecutive yr. The Santa Fe HEV, Tucson HEV and IONIQ 5 led the best way, showcasing robust demand for our electrified autos that supply cutting-edge expertise and distinctive design.
For Kia, the Sportage, Carnival and EV6 all posted document October gross sales. EV6 gross sales elevated 12% to 1,732 items. The EV6’s greater three-row electrical sibling outperformed it. Kia bought almost 2,000 items of the EV9, which has obtained rave critiques and is in a league of its personal in the intervening time, particularly within the $50,000-$70,000 worth bracket.
We’ll see if that momentum holds previous November 5. In the event you’re an EV fan, buckle up. The following few days might both raise your spirits to new highs, or they may very well be a complete letdown.
A win for Republican presidential candidate Donald Trump would possibly sign a tough street forward for EVs—he’s vowed to roll again the pro-EV insurance policies which have helped corporations like Hyundai and Kia hit document gross sales. However issues might enhance if Vice President Harris wins the race—she is anticipated to proceed (and even develop) Biden’s pro-EV insurance policies.
Both approach, it may be a nail-biting week. If you wish to know the way it’ll have an effect on the auto market, preserve studying InsideEVs.
60%: Toyota Desires To Use AI To Cut back Accidents
Toyota’s newest press launch has buzzwords like “AI platforms,” “knowledge facilities” and “compute sources.” Sound acquainted? That is as a result of—and I hate to say it—Toyota goes the Tesla approach in automating its future automobiles.
I get it. Information is the brand new oil and you’ll hardly blame automakers as of late for leaping on that bandwagon.
Toyota mentioned on Thursday that it was partnering with telecommunications big Nippon Telegraph and Phone Company (NTT) to develop automated driving tech. Similar to Volvo, Tesla and so many others, Toyota mentioned it should construct software-defined automobiles (SDVs) to scale back street accidents.
To realize that, Toyota and NTT will develop what they name a “Mobility AI Platform” with an funding of $3.3 billion by 2030. The initiative contains the “growth of superior driving help/future automated driving programs which might be data-driven, with AI studying by itself primarily based on giant quantities of driving knowledge,” Toyota mentioned.
This information comes as Toyota’s rivals in China and different elements of the world are surging forward with EV gross sales and autonomous automobile testing. Toyota stays the world’s largest automaker by gross sales quantity, and it is making ready for an electrified future with large investments in batteries and new EV fashions. However a lot of these plans are but to materialize.
That is now mirrored in its world gross sales and manufacturing.
90%: Toyota’s International Manufacturing Drops For The First Time In 4 Years
Toyota’s world manufacturing fell by 7% between April and September, marking its first drop in almost half a decade. Native experiences from Japan counsel {that a} high quality scandal and burgeoning competitors in China are placing stress on Toyota’s home and abroad gross sales.
Toyota manufactured 4.71 million autos within the first half of fiscal yr 2024, down from 5.04 million autos produced throughout the identical interval final yr. Its manufacturing dropped by 17.1% in China the place BYD and different native automakers proceed to dominate with inexpensive EVs and PHEVs. Its volumes in North America fell 1.7% whereas Europe noticed small progress of three.2%.
Its world EV gross sales elevated 32.5% to 78,178 items within the six-month interval, in order that’s a powerful indicator of the place issues are going. And Toyota and Lexus do not provide really aggressive electrical SUVs within the U.S. but. That is set to alter within the subsequent couple of years. So I am not counting them out. Not but, at the least.
100%: Will A Trump Victory Damage EV Gross sales?
Picture by: InsideEVs
Hyundai and Kia posted document auto gross sales in October. That is regardless of many patrons holding again on purchases. Do you suppose a Trump victory subsequent week might weaken the robust momentum EVs have in the intervening time?
We reported yesterday that it is going to be exhausting for Trump to completely repeal the Inflation Discount Act, which has supercharged EV gross sales and manufacturing within the U.S. Nonetheless, the IRA funds that haven’t but gone out the door may very well be jeopardized. Depart your ideas within the feedback.
Have a tip? Contact the creator: [email protected]
