The company benefited from a surge in U.S. demand for electric vehicles after Republicans in Congress voted to end a $7,500 incentive at the end of September. But other carmakers benefited more.
The end of a federal tax credit is expected to push sales of battery-powered cars down but auto experts believe the market will eventually recover.
Electric vehicles on the used market often cost less than comparable gasoline models, making the technology affordable to many more buyers.
Electric vehicles on the used market often cost less than comparable gasoline models, making the technology affordable to many more buyers.
Electric models from the luxury car brand have been very successful, but they may struggle once a $7,500 federal tax credit ends next month.
Ford, which once had a lead on other established automakers, said on Monday that it will use new materials and methods to lower the costs of electric vehicles.
But automakers can’t absorb the cost forever and will soon begin to raise new car prices, analysts say.
Shares in Tesla were down in premarket trading as the carmaker lays out the risks from President Trump’s tariffs and his scrapping of tax credits.
General Motors was the second auto company this week, after Stellantis, to show the toll that President Trump’s trade policies are taking on the industry.
As the likes of Ford and Mercedes retreat, Great Wall Motor and BYD are building factories and bringing affordable EVs and hybrids to one of the world’s biggest markets.
The Commerce Department plans to impose a 93.5 percent levy on Chinese graphite, an essential ingredient in the batteries that power electric vehicles.
China’s national champion carmaker BYD embodies a state-led industrial model that America may no longer be able to compete with.
China’s lead in electric vehicle technology, which is already huge, could become insurmountable if incentive programs are slashed, auto experts and environmentalists say.
Automakers and car buyers are taking a second, harder look at hybrids after leaving them behind for electric vehicles.
It is becoming easier to find fast chargers for electric vehicles, and they are more likely to work — and not just for Teslas.
A House Republican bill introduced this week would do away with tax credits that had encouraged Americans to buy electric vehicles and automakers to invest in new factories.
A House Republican bill introduced this week would do away with tax credits that had encouraged Americans to buy electric vehicles and automakers to invest in new factories.
Tariffs on imported parts will have a broad impact because all vehicles use components made abroad.
General Motors also said its profit in the first three months of the year fell 7 percent from a year earlier.
Overall sales of electric vehicles rose almost 11 percent in the first three months of the year as traditional carmakers offered new models.
