It’s been widely reported that electric vehicle (EV) sales growth has slowed this year, but new data from the third quarter shows continued growth in the sector, as backed by incentive programs and a wider variety of options available to consumers this year than the last few.
According to Kelley Blue Book estimates reported by Cox Automotive in a press release last week, EV sales in the U.S. grew 11 percent year over year in Q3—reaching record highs in both overall market share and total delivery volume.
Total EVs sold in the third quarter reached 346,309, marking a 5-percent jump from Q2. Meanwhile, total EV market share reached 8.9 percent in Q3, which is the highest level recorded yet and marks a jump from 7.8 percent in the same quarter last year.
“While year-over-year growth has slowed, EV sales in the U.S. continue to march higher,” said Stephanie Valdez Streaty, Cox Automotive’s Director of Industry Insights. “The growth is being fueled in part by Incentives and discounts, but as more affordable EVs enter the market and infrastructure improves, we can expect even greater adoption in the coming years.”
Tesla’s share of total EV sales vs. the rest of the industry
Credit: Cox Automotive
Q3 EV Share of Total Brand Sales
Credit: Cox Automotive
Cox says it expects increased growth in the coming months, and it says market share of 10 percent is “well within reach,” especially with increased charging infrastructure and EV options on the market, as well as great incentives and discounts.
EV incentives also reached a high in the third quarter, along with leasing programs that gave automakers access to even more generous government incentives. During Q3, incentives averaged over 12 percent of the Average Transaction Price (ATP) on sales, above that of the industry average of around 7 percent.
Cox reported in July that incentives had reached a three-year high at about 11.54 percent of the ATP on sales, before climbing even higher in August to 13.32 percent. It dropped off again slightly in September, landing at 12 percent of the ATP.
EV Lease penetration of retail sales vs. industry
Credit: Cox Automotive Credit: Cox Automotive
Tesla has remained the clear EV market leader, though consumer options have continued to increase, along with the market share of other automakers attempting to ramp up their EV programs. In Q3, Tesla delivered 166,923 vehicles in the U.S., marking a 6.6 percent increase year over year.
The report also notes that Tesla returned to growth mode in Q3 with sales jumping 6.6 percent, as supported by the increasingly popular Cybertruck. Tesla sold 16,692 Cybertrucks in Q3, outselling every other EV with the exception of the Model 3 (58,423) and Model Y (86,801).
As for individual brands, Tesla was followed by Ford and Chevy in Q3, which sold 23,509 and 19,933 EVs, respectively.
Notably, General Motors (GM) EVs overall saw a 60-percent jump to 32,095 total units across brands, and surpassed Hyundai, which saw sales plateau year over year at 29,609 units.
You can see the full data from Cox Automotive here.
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Starlink rival Amazon’s Project Kuiper invests $20M in Indonesia
Amazon’s Project Kuiper eyes $90M in Indonesia by 2035. With Starlink already active, who will win the race for rural connectivity?
Starlink rival Amazon’s Project Kuiper plans to invest $20 million in Indonesia. Similar to SpaceX’s Starlink internet services, Project Kuiper is Amazon’s low earth orbit (LEO) connection service.
The initial investment will go toward building six gateway stations in the country as Amazon prepares to start Kuiper operations. Amazon plans to invest up to $90 million in Project Kuiper in Indonesia by 2035. The company aims to expand infrastructure and expand internet access in various regions of the country.
Indonesia’s Minister of Communication and Digital Application, Meutya V. Hafid, supported Amazon’s Project Kuiper.
“We want to ensure that every citizen, regardless of location, has equal access to digital technology. With the support of investment and innovation from the private sector, we can accelerate digital transformation and create greater opportunities for the community,” Meutya said.
Amazon has already applied for operational permits in Indonesia for Project Kuiper. The company is in the middle of processing telecommunications licenses and satellite leasing rights. Amazon Kuiper is also seeking to receive a Business Identification Number (NIB) to comply with Indonesia’s latest regulations on operations by foreign companies.
“We understand that connectivity is still a challenge in many remote areas. Therefore, we want to work with the government and local partners to provide wider internet access for the people of Indonesia,” said the Global Head of Licensing and International Regulatory Affairs at Amazon Project Kuiper, Gonzalo de Dios.
Besides Indonesia, Amazon’s Project Kuiper is also competing with SpaceX’s Starlink in the United Kingdom. As of September 2024, Amazon was reportedly close to receiving a license to start Project Kuiper operations in the UK.
SpaceX’s Starlink launched in Indonesia last year. Elon Musk visited Indonesian President Joko Widodo during Starlink’s debut in the Southeast Asian country.
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SpaceX is in talks with another potential Starlink partner in India
Vodafone explores SpaceX Starlink partnership to boost rural internet in India! Rivals Bharti Airtel & Jio are already on board.
SpaceX is in talks with another potential Starlink partner in India: Vodafone Idea Ltd. The Indian telecom company has not confirmed a partnership with SpaceX to offer Starlink internet services to its customers.
“We are in exploratory talks with various Satcom providers, including Starlink,” commented Vodafone.
Vodafone Idea’s share price was up by 4.93% on Wednesday after news spread that the telecom company was talking with SpaceX about Starlink internet services. However, Vodafone clarified that its talks with SpaceX are a routine business strategy to continue enhancing the quality of its services and expand its telecommunication offerings.
Vodafone is talking with multiple Satcom providers at the moment, not just SpaceX. The company’s Chief Technology Officer, Jagbir Singh, noted that satellite services could help Vodafone expand its fixed and mobile networks to areas that traditional infrastructure can not reach. He added that the telecom company aims to offer fixed wireless broadband in rural areas and small towns.
Two of Vodafone’s rivals in India have already inked deals with SpaceX to offer Starlink services, namely Bharti Airtel and Jio Platforms.
Despite the agreements with Bharti Airtel and Jio Platforms, SpaceX’s Starlink has not received regulatory approval to operate in India. As of November 2024, Starlink India had only one box to check in order to receive approval. It needs to fully comply with the Indian government’s security regulations, specifically related to data storage.
Tesla attacks have been deemed a federal crime by the FBI’s Las Vegas Field Office after several Tesla vehicles were shot at and set on fire in Sin City.
“To those who might think that something like this is justifiable or potentially even admirable, we want you to know this is a federal crime,” commented Special Agent Spencer Evans, who is in charge of the FBI’s Las Vegas Field Office.
Surveillance footage from the Las Vegas Tesla attack revealed a person dressed in black clothing shooting at the electric cars and then setting them on fire with Molotov cocktails. One Molotov cocktail, which failed to explode, was found inside a Tesla vehicle and is currently being examined as evidence.
Fortunately, no one sustained any injuries in the Las Vegas Tesla attack. The fire department that responded to the fire was able to extinguish the fires before they could reach the Tesla batteries.
According to Assistant Sheriff Dori Koren from the Las Vegas Metropolitan Police Department, several 911 calls were made at around 2:45 am. The calls reported a fire at a Tesla facility.
“Officers discovered several vehicles on fire as well as the word ‘Resist’ spray-painted on the front doors of the business,” Asst. Sheriff Koren told CNN.
The Tesla Las Vegas fire is the second case under FBI investigation. The FBI Seattle Field Office is investigating Tesla attacks in their area after March 11, when six Tesla Cybertrucks were spray-painted with swastikas and profanity.
Tesla attacks across the United States have become more common and are often tied to Elon Musk’s political activities. While the attacks are meant to hurt Tesla, the company, it has actually hurt people and other car owners more. A few non-Tesla cars have also been damaged in the attacks due to their proximity.
“You’re not hurting Elon, I already purchased the truck. You’re hurting people that work for a living, and that’s extremely wrong. You want to make a political statement? Go and protest in front of dealerships; that’s fine. That’s your right. But to vandalize people’s property with hate symbols?” commented one Jewish Tesla owner, whose Cybertruck was marked with a Swastika.
Starlink rival Amazon’s Project Kuiper invests $20M in Indonesia
SpaceX is in talks with another potential Starlink partner in India
Tesla attacks deemed a ‘federal crime’ by FBI after Las Vegas fire
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