Electric vehicle industry leader Tesla is in a comfortable top position as it just fell short of the half-way point of its annual goal of 1.8 million vehicles delivered with about 889,000 sales in the first half of 2023.
The EV maker’s Tesla Model Y sports utility vehicle was the world’s best-selling car with about 267,200 vehicles sold in the first three months of the year and had continued leading the pack into May, after knocking the previous sales leader Toyota Corolla of its top spot.
As Tesla gets ready to deliver its much-anticipated Cybertruck, which is expected in September, the pickup truck competition is fierce with Rivian (RIVN) – Get Free Report holding the title of top selling pickup in 2022 and Ford’s (F) – Get Free Report F-150 Lightning EV in second place.
General Motors (GM) – Get Free Report will begin selling its new Chevy Silverado EV soon, which will offer both 450-mile range and 350-mile range models. And Stellantis (STLA) – Get Free Report will enter the EV truck market with its all-electric 2025 Ram 1500 REV, its first battery electric light-duty pickup truck that will be built in the US, in the fourth quarter of 2024.
Crossover/SUV competition heats up
Aside from the competition for pickups, the crossover/sports utility vehicle market has been heating up, putting pressure on Tesla’s Model Y midsize SUV and the Model X full-size SUV. Volvo (VLVLY) – Get Free Report in July unveiled its smallest SUV, EX30, to complement its all electric compact SUV XC40 and the C40 Recharge.
Mercedes-Benz in May said in 2024 it would deliver its new all-electric GLC crossover, which it hopes will cut into the Tesla Model Y market. The German automaker also said on Aug. 24 that in early 2024 it will deliver its EQB all-electric compact sports utility vehicle with an estimated 245 mile range on a charge with 70.5 kWh battery capacity, 0-60 mph acceleration in 8 seconds and the lowest price of its EVs at a $52,750
Nissan launched its Ariya Crossover/SUV last year hoping it would begin its ramp up of EV production. The company’s subsidiary Infiniti has a newly designed EV sedan, which will be produced at its Canton, Miss., factory, along with a new crossover EV.
When Nissan launched the Leaf in 2010, which was the first mass-produced electric vehicle in the world, the car was the top selling EV on the market in its first four years. But the Tesla Model S got rolling and knocked Leaf off the top spot by 2015.
Nissan, however, has done well with Leaf vehicle sales, selling a total of 650,000 cars by July 2023 since it launched sales in December 2010. However, the Japanese company has said it will phase out the Leaf in the next few years and replace it with a new vehicle by 2026.
Nissan has 3 new EV models coming
Nissan (NSANY) – Get Free Report showcased its electric vehicle future for its dealers this week as it unveiled its lineup of three new EVs that included its next-generation Leaf crossover coupe that would replace its hatchback model that will be discontinued. It also previewed a performance sedan that could replace its internal combustion engine vehicle Maxima, as well as an electric crossover SUV built on the Ariya dedicated CMF-EV platform, Electrek reported.
The Japanese automaker’s EV ramp up is expected to hit the market in 2025. The company targets 27 new electrified models that include 19 new all-electric vehicles by fiscal year 2030, according to its revised electrification plan released in February.
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