Tag: Honda

Electric Vehicle Market Share Plummets in First Quarter as Consumers Sour

Michigan Star Staff
Tesla Showroom

Growth in sales for electric vehicles (EV) slowed in the first quarter of the year as consumers remained wary of the product even though growth in sales of new vehicles remained strong, leading to a drop in EV market share, according to The Associated Press.

Sales for new vehicles grew 5 percent in the first three months of the year, but EV sales grew only 2.7 percent as more consumers chose traditional vehicles due to cost and product concerns, according to the AP. The average sales price declined 3.6 percent year-over-year to $44,186 in March as dealers looked to offload built-up inventory.

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Bentley Pushes Back Ambitious All-Electric Goals

Michigan Star Staff
Driver getting into his Bently

British luxury carmaker Bentley Motors is pushing back its plans to have an all-electric vehicle (EV) offering by 2030, following other top vehicle manufacturers, according to CNBC.

Bentley had originally planned to transition all of its vehicle sales to EVs by 2030 but announced that it would be looking to delay that change by a couple of years, continuing to offer hybrids through that time, CEO Adrian Hallmark said in a media briefing following the company’s fourth quarter results, according to CNBC. General Motors, Ford, Mercedes-Benz and Honda have all backed off of previously made EV goals in the past year as low demand and high costs have stifled the commodity’s profitability compared to traditional vehicles.

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Honda, GM Partner to Make ‘Affordable’ Electric Vehicles

The Center Square

General Motors (GM) and Honda plan to produce millions of “affordable” electric vehicles (EV) with prices of some popular models starting at around $30,000.

GM Director of Finance and Sales Communications David Caldwell told The Center Square that the collaboration will result in “a series of compact crossover EVs – the most popular vehicle segment globally.”

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