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Yahoo
03-04-2025
- Automotive
- Yahoo
Rivian Q1 sales fall 36% on weaker van deliveries, L.A. fires
Rivian Automotive reported a first-quarter sales decline of 36 percent, citing fewer commercial van deliveries and weaker demand partially driven by the impact of the L.A. fires in a key EV market. The Irvine, Calif., automaker said April 2 that it delivered 8,640 vehicles in the first quarter compared with 13,588 vehicles in the same quarter a year ago. Rivian's sales fell short of its production pace. The automaker said it produced 14,611 vehicles in the first quarter, which was 4.5 percent higher than the 13,980 vehicles made in the year-earlier quarter. Rivian doesn't break down sales by model. It sells mostly in the U.S. but also has some Canadian sales. Q1 U.S. auto sales live updates For more auto industry data, subscribe to our Data Center. Q1 2025 Q1 2024 Q4 % change 3 mos. 2025 3 mos. 2024 3 mos. % change Rivian Automotive* 9,100 11,950 -23.8% 9,100 11,950 -23.8% *Estimate Source: Automotive News Research & Data Center The automaker reaffirmed its 2025 delivery guidance of 46,000 to 51,000 vehicles. In 2024, Rivian reported sales of 51,579 vehicles. It makes the R1T pickup, R1S crossover and delivery vans for Amazon and for other fleets. Sign up for the weekly Automotive News Mobility Report newsletter for the latest developments at the intersection of transportation and technology. In a press release, Rivian cited comments by CFO Claire McDonough on the automaker's fourth-quarter earnings call Feb. 20 in which she anticipated lower deliveries in the January-March quarter. 'These lower anticipated volumes are due to seasonality coupled with a challenging demand environment, partially driven by the impact of the fires in Los Angeles, which has historically been one of our largest markets,' she said. McDonough also noted that van deliveries were higher than anticipated in the fourth quarter, which led to fewer deliveries in the first quarter this year. Have an opinion about this story? Tell us about it and we may publish it in print. Click here to submit a letter to the editor.
Yahoo
02-04-2025
- Automotive
- Yahoo
Tesla Model Y, Model 3 still top popular EVs but Cybertruck slips
The Tesla Model Y and Model 3 were the most-purchased new electric vehicles in the fourth quarter of 2024 again, according to Experian. The Honda Prologue came in third, helping to push the Tesla Cybertruck out of the top-five-selling new EVs. The Cybertruck came in seventh in the fourth quarter, down from third in the third quarter. Customers bought the most popular new EVs in different ways. For example, 72 percent of Model Y buyers paid for the vehicle with a loan and 18 percent leased their car. Meanwhile, 91 percent of Honda Prologue customers leased and only 5.4 percent financed their vehicle with a loan. Here are the 5 most popular new EVs in Q4 2024. Get extensive auto industry data with a subscription to the Automotive News Research & Data Center. 1 Tesla Model Y 2 Tesla Model 3 3 Honda Prologue 4 Chevrolet Equinox EV 5 Hyundai Ioniq 5 Source: Experian Sign up for the Automotive News F&I Report to get news, ideas and commentary delivered each Wednesday afternoon on how to maximize profits from your F&I products and services. Have an opinion about this story? Tell us about it and we may publish it in print. Click here to submit a letter to the editor.
Yahoo
07-03-2025
- Automotive
- Yahoo
Canadian vehicle sales declined 8.2% in February amid EV market ‘collapse': DesRosiers
New-vehicle sales in Canada fell close to 10 per cent in February, driven in part by a 'stunning' decline in battery-electric vehicle sales and a record comparable month last year, according to DesRosiers Automotive Consultants (DAC). Despite the year-over-year slide, DAC Managing Partner Andrew King said estimated February sales of 122,000 vehicles was 'solid.' Monthly sales figures are estimates because most automakers report only on a quarterly basis. Ford only reports annually. 'While a decline of 8.2 per cent sounds concerning, it should be remembered that February 2024 was easily the strongest February of all time — as finally a plentiful supply of vehicles was available after 30 months of shortages,' King said. Sign up for the Automotive News Canada Daily to get the top news of the day in your inbox each business weekday afternoon. Toyota recorded the biggest February decline among manufacturers that report monthly, with sales falling nearly 25 per cent year over year to 11,660 vehicles, according to the Automotive News Research & Data Center in Detroit. Sales dropped 10.9 per cent at Kia; 6.4 per cent at Honda; 4.3 per cent at Volvo Cars; and 1.8 per cent at Subaru. Hyundai, meantime, stayed ahead of its pace last year, with sales of 9,200 topping February 2024 by 6.5 per cent. Mazda also bucked the downward trend, thanks mainly to strong sales of its CX-50. The company sold 988 of the compact crossovers in February, close to double the 546 it sold a year earlier. Relatively small declines in sales of the CX-30 and CX-5 were offset by comparable gains by the Mazda 3 and CX-90. Across its entire lineup, the brand sold 4,559 vehicles in February, up 11.9 per cent from the same month a year earlier. Unlike the relative steadiness of the overall market, EV sales faced an 'astonishing' collapse during the second month of 2025, DAC said. After the chaotic end to the federal Incentives for Zero-Emission Vehicles program in January and a pause to Quebec's rebate program, February was the first full month that EV buyers in Canada lacked access to either incentive. 'Stunning declines were witnessed by a plethora of BEVs, as sales plummeted across the segment,' DAC said. According to the Automotive News Research & Data Center, exclusively electric models experienced sales declines of as much as 85 per cent in February. Hyundai's Ioniq 5 and 6 posted year-over-year declines of 37.9 per cent and 81.4 per cent, respectively, in February. Toyota BZ4x sales slid 73.2 per cent to 107 vehicles from 399. And sales of the Kia EV5 declined 85.8 per cent to 65 vehicles from 457 last February. The dramatic decline in EV sales extends the negative trend in January flagged by S&P Global Mobility, when the federal and Quebec rebates were still in play for a portion of the month. While the February sales total signals a 'healthy' auto retail market in Canada, with the seasonally adjusted annual rate coming it at two million vehicles, tariffs threaten to upend the momentum, DAC said. American tariffs of 25 per cent on most imports from Canada and Mexico came into force at 12:01 a.m. March 4. President Donald Trump issued a one-month exemption for automotive 36 hours later, but further U.S. tariffs on imports of steel and aluminum are expected March 12, as well as global reciprocal tariffs in April. The Canadian government's response could also influence sales. Ottawa retaliated to Trump's salvo immediately with 25-per-cent tariffs on $30 billion worth of U.S. goods. A second tranche of retaliatory tariffs on $125 billion of U.S. imports, likely to include vehicles and auto parts, will kick in if U.S. tariffs return April 2. 'Whether we will see another month in 2025 reach a SAAR of two million depends greatly upon how the tariff situation unfolds,' DAC said.
Yahoo
04-03-2025
- Automotive
- Yahoo
2025 Honda Prologue gets ever so slight uptick in power, range
The Honda Prologue midsize electric crossover, now in its second model year, is getting a slight boost in range and muscle thanks to an upgraded front power unit. The improvements are across the Prologue lineup. Honda said the single-motor, front-wheel-drive 2025 Prologue will now have a 308-mile base range, up 12 miles. Power is now 220 hp, an increase of 8 hp, and 243 pound-feet of torque, up 7 pound-feet. Sign up for our daily First Shift morning newscast email for a quick video to start your day. Prologues with awd now have a 294-mile range, up 13 miles, for the EX and Touring trims, and 283 miles, up 10 miles, for the Elite trim. Awd models now have 300 hp, a 12 hp increase, and 355 pound-feet of torque, an improvement of 25 pound-feet. Honda said all Prologues qualify for the $7,500 EV federal tax credit. The starting price for all Prologues remains the same as the 2024 model year. However, shipping charges rose $55. Pricing starts at $48,850 including shipping but before the tax credit. Prologue sales began in March 2024. Honda sold 33,017Prologues in 2024. Over half of those, 18,838, came in the fourth quarter, according to the Automotive News Research & Data Center. Have an opinion about this story? Tell us about it and we may publish it in print. Click here to submit a letter to the editor.
