Core Insights - Electric vehicle (EV) sales reached a record high in Q3, totaling 438,487 units sold, which accounted for 10.5% of total vehicle sales, up from 8.6% in the same period last year [3][4] Industry Overview - Major automakers such as Ford, Hyundai, and Kia reported record EV sales in September, with Ford achieving its best quarter for EVs [4] - General Motors (GM) anticipates a "choppy" EV market due to the end of the $7,500 federal tax credit for EVs, but expects stabilization in the market once demand normalizes [6] Company Strategies - Ford's CEO Jim Farley indicated that the end of the federal tax credit could reduce EV demand by approximately 50%, suggesting a shift towards hybrid vehicles [4] - Tesla is introducing new, more affordable models to boost sales amid rising competition and profitability concerns [5] - GM has reduced its EV inventory by about 30% since the end of Q2 and is focusing on improving EV profitability through material cost reductions and new battery technologies [6]