Business
Tesla, GM lead record U.S. EV sales this year as federal incentives end
DETROIT – Tesla and General Motors are leading the U.S. automotive industry this year in record domestic sales of all-electric vehicles, as consumers hurried to buy EVs before up to $7,500 in federal incentives for each purchase ended in September.
New data provided to CNBC from Motor Intelligence shows U.S. sales of EVs, excluding hybrids, topped 1 million units through the first nine months of the year and set a new quarterly record of more than 438,000 units sold during the third quarter — achieving market share of 10.5% for the period.
That record market share is up from 7.4% during the second quarter and 7.6% during the first three months of the year, according to Motor Intelligence. Sales of all-electric models were estimated to be 1.3 million in 2024, with a roughly 8% market share.
U.S. EV industry leader Tesla, which does not report sales by region, is estimated to have retained its leadership position with a 43.1% market share through September, according to the data. That’s down from 49% to end last year, as competitors continue to release new EVs.
GM, which offers the most EV models in the U.S., has made significant gains this year. Motor Intelligence reported that the Detroit automaker went from an 8.7% market share to begin this year to 13.8% through the third quarter – topping Hyundai Motor, including Kia, at 8.6% through September.
The sales data comes two days after GM estimated it leads the U.S. industry in EV market share growth so far in 2025, with the lowest incentives of any major automaker. It sold 144,668 EVs through September, which still only represented 6.8% of its total U.S. sales.
“No one is in a stronger position for a changing U.S. market than GM,” Duncan Aldred, GM president of North America, said in a release. “We have the best lineup of ICE [internal combustion engine] and EV vehicles we’ve ever had. Our brands have grown market share with consistently strong pricing, and low incentives and inventory.”
Following Tesla, GM and Hyundai, Motor Intelligence data shows Ford Motor’s EV market share was 6.6% through the third quarter, followed by Volkswagen at 5.4%; Honda Motor at 4.6%; and BMW at 3.6%.
A Tesla Cybertruck and GMC Sierra Denali EV First Edition next to one another.
Michael Wayland | CNBC
Despite sales increasing each quarter of this year, EV startups Rivian Automotive and Lucid Group continue to have a relatively small EV market share. Lucid remains under 1%, while Rivian was at 3% through September.
Major automakers reported third-quarter results this week that were led by EV sales. The rush to buy electric cars came ahead of the federal incentives for those vehicles ending as a result of the Trump administration’s “One Big Beautiful Bill Act.”
Industry analysts and executives believe the incentives ending will create a boom-and-bust cycle for the sale of EVs in the U.S.
Ford CEO Jim Farley on Tuesday said he “wouldn’t be surprised” if sales of EVs fell from an industry market share of around 10% to 12% in September to 5% after the incentive program ends.
The end of EV credits for the U.S. comes as the country continues to trail other major automakers in the adoption of zero-emission vehicles. The International Energy Agency reports China continued to lead EV adoption globally last year, with sales of 6.4 million all-electric vehicles, not counting hybrids, followed by Europe at 2.2 million units.
— CNBC’s Phil LeBeau contributed to this report.
Business
Govt keeps petrol, diesel prices unchanged for coming fortnight – SUCH TV
The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.
This decision was notified in a press release issued by the Petroleum Division.
Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.
Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.
Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.
The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.
Business
Serial rail fare evader faces jail over 112 unpaid tickets
One of Britain’s most prolific rail fare dodgers could face jail after admitting dozens of travel offences.
Charles Brohiri, 29, pleaded guilty to travelling without buying a ticket a total of 112 times over a two-year period, Westminster Magistrates’ Court heard.
He could be ordered to pay more than £18,000 in unpaid fares and legal costs, the court was told.
He will be sentenced next month.
District Judge Nina Tempia warned Brohiri “could face a custodial sentence because of the number of offences he has committed”.
He pleaded guilty to 76 offences on Thursday.
It came after he was convicted in his absence of 36 charges at a previous hearing.
During Thursday’s hearing, Judge Tempia dismissed a bid by Brohiri’s lawyers to have the 36 convictions overturned.
They had argued the prosecutions were unlawful because they had not been brought by a qualified legal professional.
But Judge Tempia rejected the argument, saying there had been “no abuse of this court’s process”.
Business
JSW Likely To Launch Jetour T2 SUV In India This Year: Reports
JSW Jetour T2 Launch: JSW Motors Limited, the passenger vehicle arm of the JSW Group, is reportedly preparing to enter the Indian car market this year. It has partnered with Jetour, a China-based automotive brand owned by Chery Automobile, and the Jetour T2 SUV could be the company’s first product, according to the reports.
Media reports suggest that the launch will happen independently and not under the JSW MG Motor India joint venture. The SUV will wear a JSW badge and name, instead of the Jetour branding. The upcoming SUV will be assembled at JSW’s upcoming greenfield manufacturing facility in Chhatrapati Sambhaji Nagar, Maharashtra.
According to the reports, the company plans to have the vehicle on sale by the third quarter of this year. With this move, JSW aims to establish itself as a standalone carmaker in India.
Expected Powertrain
The SUV is likely to arrive with a 1.5-litre plug-in hybrid setup. Internationally, this hybrid powertrain is offered with both front-wheel drive and all-wheel drive options. It is still unclear which version will be introduced in India.
Design
In terms of design, the T2 is a large and rugged-looking SUV. It has a boxy and upright stance, similar to vehicles like the Land Rover Defender. Despite its tough appearance, it uses a monocoque chassis instead of a ladder-frame construction.
Size
The SUV measures around 4.7 metres in length and nearly 2 metres in width. This makes it larger than the Tata Safari, even though it is a five-seater. A longer 7-seat version is also sold in some markets.
Price
Pricing details for India are yet to be announced. For reference, the front-wheel-drive five-seat T2 i-DM is priced at AED 1,44,000 (around Rs 35 lakh) in the UAE.
Jetour
Jetour is a brand owned by Chinese automaker Chery. Launched in 2018, it focuses mainly on SUVs and is present in markets across China, the Middle East, Africa, Southeast Asia and Latin America.
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