U.S. used electric vehicle sales surged recently as the September 30 deadline for the $7,500 federal EV tax credit puts the industry on high alert.Used EV Sales Jumped 59% In AugustPre-owned EVs are almost as affordable as their ICE-driven counterparts, with the average transaction price for a used EV in the U.S. reaching $34,700, according to Bloomberg on Saturday. The same data suggests 40,960 used EV units were sold in August, up 22% month over month and 59% YoY."It was just a matter of time until people ...

Xpeng Inc. (NYSE: XPEV) surged over 4.36% in Friday’s premarket and recorded a 5.4% spike in its Hong Kong-listed shares. It's currently trading at $22.90 in pre-market, according to Benzinga Pro data.European ExpansionThe surge in share price comes as the company officially announced its entry into 5 European markets — Switzerland, Austria, Hungary, Slovenia and Croatia — after partnering with Magna International Inc. (NYSE: MGA) to build two EVs in Austria at one of Magna's manufacturing facilities. The p ...

Wall Street is excited about Lucid Group's potential.Wall Street analysts appear very bullish on Lucid Group's (LCID 0.20%) ability to boost sales over the next 18 months. This fiscal year, sales are expected to rise by 61%. Next year, another 93% growth in revenue is expected. In total, that means sales could jump by 211% in under two years.Why are sales expected to rise so much? And does this rapid sales growth make the stock a buy?You may be surprised by the answer to these questions. Lucid Group is bett ...

Xiaomi 17 phones Xiaomi Corp.’s billionaire co-founder unveiled a $630 smartphone designed to take on the just-released iPhone 17, underscoring the Chinese company’s broader ambitions to take on US rivals from Apple Inc. to Tesla Inc. Most Read from Bloomberg The Xiaomi 17, which will be offered in Pro and Pro Max models just like Apple’s marquee series, starts at 4,499 yuan ($631.20) for the most basic model, rising to 5,999 yuan at the top end, co-founder and Chief Executive Officer Lei Jun said via a ...

BYD has said that profits have fallen in the second quarter of this year, down 30pc from the same period in 2024 - Chan Long Hei/Bloomberg Warren Buffett’s investment giant has sold off its entire stake in BYD as investors lose faith in China’s Tesla rival. Berkshire Hathaway revealed in its latest filings that its shareholding in BYD fell to zero in the second quarter, down from $415m (£308m) at the end of last year. Mr Buffett’s exit led to the carmaker’s shares falling by 3.4pc in Hong Kong on Monday, ...

China’s giant electric vehicle insurance market is flailing. Losses are piling up, as companies’ risk models haven’t kept up with changes in vehicle economics and driver behaviors.The country now has tens of millions of electric cars on its roads, and sales are rising at a rapid clip. Chinese insurers have found that new energy vehicle owners — which tend to be younger on average — are about twice as likely as owners of gasoline-powered cars to file claims. The repair costs are also significantly higher. Bu ...

Next year could transform Rivian's entire business.Rivian Automotive (RIVN -1.84%) stock trades at a sizable discount to electric-vehicle (EV) competitors like Tesla and Lucid Group. That discount is due to the company's lackluster growth rates in recent quarters. But looking ahead to 2026, Rivian's growth rates should skyrocket. And there's one major reason for this impending growth spurt.Why does Rivian trade at a discount to Lucid Group and Tesla?According to many valuation metrics, Rivian trades at a si ...

Chinese automaker Xpeng Inc.'s XPEV sales surged over 137% YoY in overseas markets from January to August 2025.Xpeng Delivered More Than 24,000 Units OverseasThe automaker recorded over 24,702 units delivered across 46 countries and regions across the globe, CnEVPost reported on Friday. The delivery figures indicate a 137% surge, with Xpeng also having increased the number of overseas outlets to 275, the report said.Xpeng's total deliveries from the beginning of the year to August clock in at 271,615 vehicl ...

Tesla has avoided another jury trial over a deadly crash involving the electric carmaker's Autopilot driver-assist system. Elon Musk's company reached a deal this week to settle a lawsuit with the family of a 15-year-old boy who was killed in a 2019 California highway collision after a Tesla Model 3 slammed into the teen's father's pickup truck.Notice of settlement documents were filed in Alameda County Superior Court on Monday, just four weeks before the case was scheduled to go to trial. The documents sa ...

Tesla Inc. reached a confidential deal to resolve a lawsuit by the family of a teenager who was killed in a 2019 California crash involving a Model 3 on Autopilot.The settlement disclosed in court filings marks the latest move by the electric-vehicle maker to avoid a jury trial over a fatal wreck. A trial was scheduled to start in about a month in Alameda County Superior Court. The accord comes after after the automaker has struck secret settlements in several other cases that blamed defective technology fo ...