Page 5 - Motor Intelligence News Today

Tesla outsold BMW, Mercedes-Benz and Lexus to become the best-selling luxury car brand in the United States in 2022 with its four-model lineup.

The Tesla Model Y and Model 3 were the two best selling vehicles in California last year, while Tesla was number two behind Toyota in total sales.

Ford has announced price reductions for the Mustang Mach-E electric SUV that go into effect immediately and range from $600 to $5,900, depending on the model.

The US will require more than two million electric vehicle chargers by the end of the decade – up from 150,000 now.

Tesla has responded to increased competition in the electric-car segment by cutting into its large profit margins, sending ripples across the auto industry – and delivering customers big savings.

Tesla's exceptional sales record in California shows that, even though many other EV options exist, it is still the ideal choice.

Tesla dropped its prices in the US by huge margins, and it's impacting rival brands, used sales, the stock market, and much more.

Even though the US new car market as a whole shrunk in 2022, more EVs were sold reaching a 5.8 percent market share, up from 3.1 percent in 2021.

Lucid's share price receives a welcome boost on news of America's growing appetite for electric vehicles with over 800,000 sold in 2022.

The basic premise for investments in these early-stage companies is showing good progress.