We’re constantly hearing about an EV downturn and how automakers are changing their electrification strategies because consumers aren’t consuming. And sure, sales of electric cars are down in countries like Germany, but in the US people are still buying EVs, and they’re buying more of them than they did 12 months ago.

EV registrations climbed 5 percent in October versus the same month in 2023, topping out at 101,403, according to data from S&P Global Mobility. And it wasn’t Tesla driving that growth, but legacy automakers.

Related: Global EV Sales Shatter Records In November Thanks To China’s Unstoppable Growth

Chevrolet’s EV sales jumped 38 percent to 6,741 helped by demand for the Blazer and Equinox, while Cadillac Lyriq registrations grew threefold to 2,489 and the Hummer shifted 1,015 electric trucks, four times as many as it did last October. 

Like the Equinox, Honda’s Prologue, which is built on the same GM platform and in the same Mexican GM plant, wasn’t available in 2023, but made its presence felt this year. It found 4,168 homes, only 12 fewer than Chevy did of its version. Hyundai’s Ioniq 5 facelift also gave its sales numbers the desired nip and tuck, boosting registrations from 3,555 to 4,485.

Although the overall number of EV sales is up, the rate of growth has slowed and some models registered fewer deliveries than previously. The Ford Mustang Mach-E, for instance, was down from 3,949 to 3,479 according to S&P Global Mobility’s spreadsheet and Rivian R1S sales dropped by more than 500 to 2,456. There are also fears that the EV segment relies heavily on tax credit availability to boost demand, and public interest could wane if Trump pulls the plug on the incentives when he takes office.

BEST SELLING EVs USA

Tesla’s registration numbers actually fell by 1.8 percent, and if you remove Tesla from the equation, EV sales increased not by 5 percent, but by 11 percent. And this isn’t a blip for Tesla: the automaker’s numbers have fallen in seven of the first 10 months of 2024, Auto News reports, and that’s despite the facelifted Model 3 and Cybertruck being new for this year. While the Model 3 gained ground, the Model Y fell back, sales tumbling from more than 25,000 to under 22,000.

But before anyone gets the idea that Tesla is falling behind in the EV race, we should make clear that it still outperformed the second best-selling brand’s EV models six times over. Or every single brand in the 2nd to 12th spots combined.

EV REGISTRATIONS USA

Depreciation is a fact of life, but what you buy has a big impact on resale values down the line. To help consumers, J.D. Power has released their 2025 U.S. ALG Residual Value Awards which highlight the vehicles that are projected to hold the highest percentage of their manufacturer’s suggested retail price after three years of ownership.

The winners aren’t exactly a surprise as Honda and Lexus walked away with top honors for the fourth consecutive year. J.D. Power’s Danny Battaglia credited part of this success to Honda’s pricing discipline as well as Lexus’ restraint on incentives, which can negatively impact resale values of older vehicles.

More: 2024 Dodge Charger Daytona Starts At $59,595

Besides being named the best premium brand, Lexus picked up the most model-level awards. Class honors went to the IS, LS, NX, RX, and TX. Their mainstream counterpart, Toyota, also picked up awards for the Camry and GR Supra as well as the Tundra and Land Cruiser.

Japanese models dominated the rankings as Honda scored wins for the Civic, Passport and Odyssey, while Subaru picked up accolades for the Crosstrek, Forester, and WRX. Other awards went to the Acura Integra and Nissan Kicks.

American brands might have played second fiddle, but GM racked up five wins. The Chevrolet Corvette was named the best “midsize premium sporty car,” while the Cadillac Escalade was the best large premium SUV. GMC also picked up awards for the Sierra 3500 HD as well as the Hummer EV Pickup and SUV.

Interestingly, the soon to be launched Dodge Charger Daytona was named the best electric car. While it remains to be seen what resale values will look like three years from now, electric coupes are virtually unheard of in America so the Charger Daytona doesn’t really have any competition.

Sticking with EVs, the Tesla Model 3 was dubbed the best premium electric car. The Hyundai Kona EV, on the other hand, was named best electric SUV.

Awards were also given to the BMW X1 and 5-Series, Jeep Gladiator and Wagoneer, and Kia Telluride. Mercedes’ only win was for the Sprinter, which took the commercial van class.

Hertz wants to shift some of its all-electric inventory and, after a $1.3 billion loss in Q3 and a $1 billion impairment charge due to the lost value in its EV fleet, it can’t do it soon enough. However, Hertz’s missteps in the EV market could be a win for you (or a friend), as the rental car giant is clearing out older EVs for under $20,000—and in many cases, for less than $15,000.

More: Hertz In A Hole After EV Gamble, Will Sell 30,000 EVs By Year’s End

On the surface, these discounts might seem tempting, but as always, the devil’s in the details. As of this writing, Hertz has over a dozen Teslas on sale for under $30,000. The vast majority sit below $25,000, and four are beneath $20,000. The deals appear to be in that middle ground though.

High Mileage, High Risk

For instance, among the cars under $20k, all have over 120,000 miles on the odometer. That places them well outside Tesla’s 8-year/100,000-mile limited warranty for the battery and drive unit (for RWD models). What might look like a bargain at first glance could quickly spiral into an expensive nightmare if the battery decides to call it quits. Battery replacements for EVs and PHEVs are notoriously expensive. Proceed with extra caution, as we’ve heard that battery replacements for the RWD Model 3 typically start at $13,000.

A Question of Value

The sweet spot in Hertz’s clearance fleet seems to be Teslas priced between $20,000 and $25,000. Many of those have around 60,000 miles and some have as little as 27,583 miles. These cars should still fall within Tesla’s battery warranty, but you’ll want to verify specifics before signing on the dotted line. In addition, Hertz sells them with a 12-month, 12,000-mile powertrain warranty. Elon Musk might think that a $25,000 Tesla is “pointless” but we see some value in these used examples.

Why A New Tesla Might Be Smarter

Above that point, however, and especially when you hit the $30,000 price mark, you might be better off just getting a new one if you qualify for all federal and state tax rebates. These incentives vary based on your location, income, and vehicle choice. For instance, in Massachusetts, qualifying buyers can benefit from the $7,500 federal tax credit combined with an additional $3,500 state EV rebate (both subject to income and MSRP limits) for a total of $11,000 in savings.

On top of that, Tesla is currently offering a 0% APR financing deal for up to 60 months with a minimum down payment of 20%—and the $7,500 federal tax credit can be applied upfront, if eligible.

This means you could drive away in a brand-new Tesla Model Y Long Range for $37,000 before taxes and fees, not to mention paying most of it off with zero interest over 60 months. Compare that to Hertz’s offer of a 2022 Tesla Model Y Long Range with 46,883 miles priced at $29,364 before taxes and fees, and the decision becomes a bit more nuanced. Depending on your circumstances, the price gap may justify going for new over used—or at least give you pause before committing to Hertz’s clearance inventory.

Budget EVs Galore

Should one not love the idea of picking up a used Tesla, Hertz has a few other inexpensive EVs on offer. There are so many Chevrolet Bolts that it’s impossible to pick just one out of the crowd of over 100. The good news is that just about any trim or options are available. Most of them are on offer for under $15,000 too.

That’s not all though. For those with a taste for something a little more upscale, Hertz also has some Volvo C40 Recharge models for under $30,000 with under 20,000 miles in most cases, and several Mercedes-Benz EQBs with under 15,000 miles for less than $30,000 too.

Don’t feel convinced yet? For the true bargain hunters, how about two Hyundai Kona Electric crossovers priced under $13,000 right now? Sure, they have over 100,000 miles each but they could also qualify for tax credits too. The deals are out there right now for interested parties. 

Due Diligence Required

The bottom line? Hertz’s loss could be your gain, but it’s crucial to tread carefully and do your homework, particularly when it comes to battery warranties. These cars might save you money upfront, but as with any used vehicle—especially an EV—future maintenance and battery life should weigh heavily in your decision. Deals like these can feel like a steal, but only if you know exactly what you’re buying into.

Additional reporting by John Halas

A next-generation Chevrolet Bolt is on the horizon, but GM can’t seem to escape the shadow of its troubled past with the model. The automaker has just issued yet another recall for the older Bolt, a reminder that the headaches of its earlier EV experiment are far from over.

You’ll no doubt remember that three years ago, GM recalled more than 140,000 Bolts across the United States because there was a risk they could catch fire. The issue was traced back to a problem with the battery pack, which was sourced from LG. Now, GM has revealed that some of the 2020-2022 Bolt EV and Bolt EUV models repaired under the previous recall are still at risk of catching fire.

Read: Chevy Bolt Owners Could Be Compensated Up To $1,400 For Battery Fires

As part of a prior recall, GM dealers were instructed to install advanced diagnostic software that alerts drivers to faults within the battery. However, it’s been revealed that in some Bolts, this software was not properly installed, and the vehicle may fail to identify defective battery modules that require replacement. GM says this increases the risk of a vehicle fire.

This is bad news for GM, which has already been severely embarrassed by previous Bolt issues. Fortunately, this latest fault is not widespread and impacts just 107 vehicles in the US. These consist of 2020-2022 Bolt EV models manufactured from November 8, 2019, to May 19, 2021, and 2022 Bolt EUV models built between March 30, 2021, and July 23, 2021.

The carmaker became aware of the issue on July 23, 2024, after a brand quality manager discovered an incorrect software update had limited a customer’s Bolt EUV to 80% state of charge, despite exceeding the prescribed ~6,200 mile (~10,000 km) evaluation period.

GM will notify owners by December 16, 2024, and instruct them to take their EVs to a dealer where the diagnostic software will be installed correctly. In the interim, GM is asking owners to set a 90% charge limitation on their vehicles, encouraging them to charge more frequently and to avoid draining the battery to below 70 miles (113 km) of remaining range. Additionally, owners should park their vehicles outside immediately after charging and should not leave them charging indoors overnight.

Chevrolet introduced the 2025 Silverado EV last month, and now they’re getting, well, crabby—in a good way. Taking a page from GMC’s playbook, they’ve decided to add their own version of the Hummer’s famed CrabWalk.

Known in bowtie lingo as Sidewinder, the new drive mode is engaged via the infotainment system and allows all four wheels to turn in the same direction. This enables the electric pickup to drive diagonally at speeds up to 20 mph (32 km/h).

More: Chevy Expands 2025 Silverado EV Range With New LT And Battery Options

Since this isn’t something drivers will use every day, it’s slightly buried. However, Chevrolet said owners can access the new drive mode by tapping the Controls icon and then navigating to Rear Steering. They can then select Sidewinder mode, which is verified by splash scene graphics on the infotainment system as well as a message in the instrument cluster.

Once activated, the Silverado EV RST can be driven diagonally. Chevrolet said this proves helpful in a variety of situations ranging from “tight parking spots to rugged terrain.” During testing on the GMC Hummer EV, we thought it felt gimmicky and a tad unnatural, although effective.

Sidewinder mode comes standard on all 2025 Silverado EV RST pickups. It will also be added to existing Silverado EV First Edition RSTs via an over-the-air update early next year.

Besides the new drive mode, the 2025 Silverado EV gains a new LT trim that starts at $75,195 and offers up to 408 miles (657 km) of range. They’re joined by new battery packs as the RST offers Extended and Max Range batteries, while the fleet-focused WT has Standard, Extended, and Max Range options. The latter gives the Work Truck an EPA-estimated range of 492 miles (792 km).

General Motors has released their third quarter results and investors were loving it as the company’s stock shot up nearly 10% to close at $53.73 per share. That’s nearly a 52-week high and the strong performance was fueled by an assortment of positive developments.

Jumping right into the numbers, the automaker reported third quarter revenues of $48.8 billion as well as a net income attributable to stockholders of $3.1 billion. This impressive performance pushed the company to raise their full year guidance as they’re now expecting diluted earnings per share in the range of $9.14 – $9.64, which is up from the previous estimate of $8.93 – $9.93. The company also expects their full year net income attributable to stockholders to be $10.4 billion – $11.1 billion, instead of $10.0 billion – $11.4 billion.

More: 2025 GMC Yukon Gets A Much-Needed Interior Overhaul And Beefier Diesel

In a letter to shareholders, GM CEO Mary Barra said they grew U.S. retail market share in the third quarter with “above-average pricing, well-managed inventories, and below-average incentives.” The executive also pointed to improved sales in China as well as continued progress on EV production and profitability targets. Speaking of the latter, she said “we are focused on optimizing our ICE margins and working to make our EVs profitable on an EBIT basis as quickly as possible.”

Since most of the financial stuff is a snooze fest, let’s look at some interesting tidbits. Among the key points GM wanted to hammer home was leadership in full-size trucks and SUVs. They’re “#1 in full-size pickups” and are enjoying the best year-to-date total sales since 2007. GM’s position is pretty dominant as they have a 44% share of the full-size truck retail market.

That pales in comparison to their commanding lead in full-size SUVs as the company controls 64% of the market. Their position is about to get even stronger as facelifted versions of the Chevrolet Tahoe / Suburban, GMC Yukon, and Cadillac Escalade will begin arriving at dealers in the fourth quarter.

The company went on to credit a fresh product lineup that has higher profit margins than their predecessors. These vehicles include the Chevrolet Equinox and GMC Terrain as well as the larger Buick Enclave, Chevrolet Traverse, and GMC Acadia. Consumers have also embraced the value-focused Buick Envista and Chevrolet Trax.

Barra went into more detail during an earnings call, where she said “We are on track to produce and wholesale about 200,000 EVs in North America this year and make our portfolio … profit positive this quarter.” She added the ICE-powered Equinox has been a hit as average transaction prices have shot up around $6,000 and the model is attracting younger consumers.

The executive also mentioned things are heating up on the Hyundai front as the two companies are making “good progress” on specific areas of cooperation. She went onto say they’re “nearing the completion of our first definitive agreement and we expect to have something to share soon.”

Hundreds of 2025 Chevrolet Blazer, Blazer EV, and Equinox EV models a part of a recall across the U.S. over a critical safety issue: doors that could unexpectedly open while driving or during a crash. Safe to say, having your doors swing open mid-commute isn’t exactly a feature anyone’s asking for. The good news? GM reports that none of these vehicles have left dealership lots yet.

GM has confirmed that the vehicles in question were fitted with door strikers sourced from Brano Group A.S., which were not properly heat-treated to meet the carmaker’s hardness specifications. The result? These strikers could crack under pressure, allowing the doors to swing open when you least expect it, significantly raising the risk of injury to anyone inside.

Read: 2024 Chevy Blazer EV And Other GM SUVs Recalled Over Unexpected Door Openings

A total of 731 vehicles in the U.S. are affected by the recall. That breaks down to 513 Blazers built between August 30, 2024, and September 6, 2024, 215 Blazer EV models from the same production window, and 3 Equinox EVs manufactured between September 4, 2024, and September 5, 2024. If you’ve got one of these on order, you might want to double-check that delivery date.

Chevrolet was first alerted to a potential issue on September 6, 2024, when a quality engineer at GM’s Ramos Arizpe plant in Mexico saw a door striker fracture during routine side door adjustment.

This isn’t GM’s first rodeo with faulty door strikers on these models. Back in late December 2023, the Blazer, Blazer EV, and Equinox EV were also recalled over the same issue. At the time, GM thought that it had purged all of the faulty door strikers from their supply. However, it turns out not all of the suspect stock was removed from a warehouse used by the Mexican plant, leading to the installation of several hundred faulty strikers in new vehicles.

Fortunately, GM is not aware of any field incidents related to the defect. None of the 731 affected vehicles in the U.S.—nor the additional 124 units in Canada and Mexico—have been delivered to customers yet. Dealers have been instructed to replace all four side door strikers and attaching bolts with new properly treated parts before these vehicles ever reach showrooms.

The Chevrolet Bolt is going back into production next year as a 2026 model and GM plans to make money with it. Although it won’t be built on the now, not-called-Ultium platform, it will still offer several new features, according to GM President Mark Reuss, who shared updates during GM Investor Day.

The meeting, which took place in Spring Hill, Tennessee, and Reuss wasted no time in highlighting the Bolt. For one thing, the pricing will be “only slightly higher than the 2023 Bolt”, he said. That’s good news since the cheapest electric car on sale from Chevrolet today is the Equinox EV at $34,995. The 2023 Bolt started at $28,795.

More: Forget The Charger Daytona, Mopar Teases Hot Electric Muscle Car For SEMA

Moreover, he expects it to provide a better overall value to customers when compared to the 2023 edition. According to Autonews, he even threw in a tiny dig at Ford and its unique team tasked with developing a low-cost EV.

“The 2026 Bolt will offer the same value as the original Bolt and much more, and it will be a moneymaker for us,” Reuss said. “It’s a direct result of the investment in the next-gen EV platform, and we don’t need to create a skunkworks to create affordable electric vehicles. We know how to do this.”

We also know that it’ll be built in Kansas at GM’s Fairfax Assembly plant. Expect it to feature an updated interior not all that far from what we see in the Trax. And in what might be the biggest news for Bolt fans, charging speeds are about to get a serious boost—something long overdue for a car that’s already carved out a loyal niche in the U.S. EV market.

But here’s where things get really interesting. GM President Mark Reuss revealed that the new Bolt won’t be rolling solo. “It will just be one member of a family on the Bolt, including an even lower-cost option,” Reuss said. So, we’re looking at a Bolt family—and yes, that includes an even cheaper model.

The details? Well, they’re annoyingly sparse. No word yet on whether we’ll see a return of the original Bolt EV’s more hatchback-like form, or if GM will lean further into the crossover vibe of the EUV. Or maybe they’ll hit us with something totally new as the budget option. One thing’s for sure, GM seems to be getting serious about expanding the Bolt lineup beyond its quirky niche.