EVs And Hybrids Catapult Hyundai, Kia October U.S. Gross sales To New File

Count on November to be full of headlines in regards to the presidential election—and record-breaking electrical automobile gross sales. With a nail-bitingly shut race, stories counsel that automotive consumers 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 Crucial Supplies, your day by day round-up of reports and occasions shaping the world of electrical vehicles, software-defined automobiles and autonomous tech.

Additionally on immediately’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 seems 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 automobiles particularly, have endured sustained vitriol for no good cause.

Hyundai stated its total auto gross sales in October elevated 18% to 71,802 models, whereas Kia gross sales elevated 16% to 68,908. Hyundai stated fashions just like the Ioniq 5, Santa Fe Hybrid and Tucson Hybrid helped it obtain these document numbers.

Ioniq 5 gross sales had been up 51%, with Hyundai delivering 4,498 models in October. Sadly Ioniq 6 gross sales skilled a pointy drop of 32%, with solely 837 models offered. That is a disgrace as a result of the Ioniq 6, at the least to this pair of eyes, is among the best-looking vehicles available on the market. And it is no slouch in terms of vary and efficiency. It simply occurs to be a sedan in an SUV-dominated world. (Do not inform the Toyota Corolla I stated that.)

Talking of SUVs, Santa Fe Hybrid gross sales had been up 136% and Tucson Hybrid gross sales grew 140%. 

This is what Randy Parker, the CEO of Hyundai Motor America, stated 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 way in which, showcasing robust demand for our electrified automobiles that provide 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 models. The EV6’s greater three-row electrical sibling outperformed it. Kia offered almost 2,000 models of the EV9, which has acquired rave evaluations and is in a league of its personal in the meanwhile, particularly within the $50,000-$70,000 value bracket.

We’ll see if that momentum holds previous November 5. Should you’re an EV fan, buckle up. The subsequent few days might both elevate your spirits to new highs, or they might be a complete letdown.

A win for Republican presidential candidate Donald Trump may 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 increase) Biden’s pro-EV insurance policies. 

Both manner, it should be a nail-biting week. If you wish to know the way it’ll have an effect on the auto market, hold studying InsideEVs.

60%:  Toyota Desires To Use AI To Scale back Accidents

Toyota’s newest press launch has buzzwords like “AI platforms,” “information facilities” and “compute assets.” Sound acquainted? That is as a result of—and I hate to say it—Toyota goes the Tesla manner in automating its future vehicles.

I get it. Knowledge is the brand new oil and you may hardly blame automakers lately for leaping on that bandwagon.

Toyota stated on Thursday that it was partnering with telecommunications big Nippon Telegraph and Phone Company (NTT) to develop automated driving tech. Identical to Volvo, Tesla and so many others, Toyota stated it should construct software-defined vehicles (SDVs) to scale back street accidents.

To attain that, Toyota and NTT will develop what they name a “Mobility AI Platform” with an funding of $3.3 billion by 2030. The initiative consists of the “improvement of superior driving help/future automated driving programs which are data-driven, with AI studying by itself based mostly on giant quantities of driving information,” Toyota stated.

This information comes as Toyota’s rivals in China and different components 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 stories 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 automobiles within the first half of fiscal yr 2024, down from 5.04 million automobiles 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 models within the six-month interval, in order that’s a powerful indicator of the place issues are going. And Toyota and Lexus do not supply 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 Harm EV Gross sales?

Picture by: InsideEVs

Hyundai and Kia posted document auto gross sales in October. That is regardless of many consumers holding again on purchases. Do you assume a Trump victory subsequent week might weaken the robust momentum EVs have in the meanwhile?

We reported yesterday that will probably be laborious for Trump to completely repeal the Inflation Discount Act, which has supercharged EV gross sales and manufacturing within the U.S. Nevertheless, the IRA funds that haven’t but gone out the door might be jeopardized. Go away your ideas within the feedback.

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