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Study Suggests Automakers Lose $6,000 On Each EV Sold

The Truth About Cars

A new study is claiming that automakers lose an average of $6,000 for every $50,000 electric vehicle they sell. Boston Consulting Group, an American-based global management consulting firm that issued the report, said the figure accounts for customer tax credits — painting a rather bleak picture for the future of EVs.

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If $50,000 EVs still lose $6,000, when will EVs become profitable?

Baua Electric

Legacy automakers are still losing thousands of dollars on many EV sales, according to newly published analysis from the Boston Consulting Group. Tesla is turning a profit on its EVs, but it definitely helps to have the bestselling vehicle on the planet and no legacy internal-combustion business to tend to.

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Hyundai and Kia are gaining a competitive edge ahead of the affordable EV offensive

Baua Electric

Hyundai Motor, including Kia, generated a record over $9 billion (KRW 12.27 According to Goldman Sachs (via Wall Street Journal ), Hyundai sold over 800,000 vehicles, accounting for over 10% of the US market. “For For now, electric vehicles are the top priority,” Hyundai Motor Group CEO Chang Jae-hoon said earlier this month.

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U.S. EV adoption is happening faster than anticipated

Teslarati

The research directly contradicts and challenges a statement by Jack Hollis, the executive vice president of sales at Toyota Motor North America. According to Hollis, consumer demand isn’t sufficient enough for the mass adoption of battery electric vehicles to develop as fast as everyone would like. It’s the Toyota Camry.”

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Electric-Car Fans Rally Around the Volt - Green Inc. Blog - NYTimes.com

Tony Karrer Delicious EVdriven

Electric car supporters are rising to defend General Motors’ development of the Chevy Volt after the Obama Administration’s automotive task force proclaimed that the car was probably too expensive to be commercially successful in the near future. . Supporters of the car say that’s shortsighted. and Chrysler. Whatever B.C.G.’s

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