Shift Key with Robinson Meyer and Jesse Jenkins
Climate-o-Rama: EVs, Oil, Trump, and More
Oct 30, 2024
The discussion dives into the rebound of electric vehicle sales in the U.S. and the buzz around the Cybertruck. Attention is given to political influences affecting decarbonization, including recent permitting reforms. The urgency of climate change is underlined by a recent report, revealing how EVs are reshaping global oil demand. The hosts explore the significance of local elections on clean energy policies and the impact of the Inflation Reduction Act on investments. They also touch on the EPA's new powers to enforce emissions regulations, paving the way for a greener future.
59:24
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Quick takeaways
- Electric vehicle sales in the U.S. rebounded in Q3 with an 11% year-over-year increase, highlighting a diversifying market landscape and Tesla's recovery.
- GM's strategic shift towards higher-priced vehicle sales resulted in a $3.4 billion profit amid ongoing investments in electric vehicle production and profitability efforts.
Deep dives
Q3 Electric Vehicle Sales Surge
Electric vehicle (EV) sales in the U.S. saw an 11% increase year-over-year in the third quarter, reaching a market share of 8.9%. This growth marks a recovery from a stagnant first half, primarily bolstered by Tesla's resurgence, as their sales rose 6.6% during the same timeframe. Despite Tesla's significant presence in the EV market, competitors like Honda and Ford also reported strong sales, contributing to a healthier and more diverse EV landscape. The ongoing shift appears to reflect a stabilization and expansion in the overall EV market as other automakers gain traction.
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