#electric-vehicle-sales

#electric-vehicle-sales

According to Mitchell, claims frequency for repairable, collision-damaged EVs reached 3.21% in the U.S. in the previous quarter, an all-time high and a 4.2% increase year-over-year. Despite all of this, the average cost for collision repair went down 2.4% compared to the second quarter and is now at the lowest level since the beginning of the year. That's great news for anybody who was apprehensive about getting an EV because of high repair costs.

Lucid Group marked a milestone yesterday with the grand opening of its first San Jose studio and service center at 250 Stockton Avenue. This facility expands the company's Bay Area presence, joining existing studios at Westfield Valley Fair Mall and in Newark, near headquarters. The event drew attention with appearances from company executives, a ribbon cutting ceremony, and demonstration drives of the Lucid Air sedan and Lucid Gravity SUV, allowing attendees to experience these electric vehicles firsthand.

The uncertain future will affect U.S. emissions, the strategies of legacy automakers, and maybe the very survival of some EV startups. Driving the news: U.S. EV sales smashed records in Q3, new Cox Automotive data shows, as consumers rushed to tap credits and dealers rushed to move cars. "EV sales volume in Q3 was up 40.7% from the previous quarter and higher by 29.6% year over year," it found.

The Republican tax and spending package that passed in early July brought an early end to federal EV tax credits, which are worth up to $7,500 for new electric vehicles and up to $4,000 for used ones. The credits end on September 30. Specifically, buyers need to have a binding contract in place by that time the vehicle itself can be delivered later. Anybody who was thinking of getting an EV soon-ish suddenly had a four-figure incentive to get one fast.