Mercedes sold 117,800 battery electric vehicles in 2022, up from 42,400 sold in 2021. The company, and its European peers, plan to sell a lot more.
Author: Al Root
For the full year, the auto maker delivered 2,274,088 vehicles in the U.S., including 39,179 electric vehicles.
Lithium miner Piedmont amended an agreement to supply Tesla with ore of the metal that goes into electric-vehicle batteries.
NIO, Li, and XPend delivered a combined 48,340 vehicles in December, up about 19% year over year.
Wall Street expects Tesla to deliver about 425,000 vehicles in the fourth quarter of 2022. Next year's production means a lot more, however.
It isn't easy to forecast 2023 auto sales. Global production has been constrained by supply-chain disruptions thanks to Covid, a shortage of chips, and the war in Ukraine.
Faraday Future Intelligent Electric says it wants to start production of its ultraluxury vehicles in March of 2023, but it needs another $150 million to $170 million to make that happen.
Wait times for new EVs have been falling more recently, along with prices.
Li Auto posts weak third-quarter profit margins. But deliveries guidance for the fourth quarter looks strong.
An upside for investors: High used vehicle pricing is a sign of strong demand.