Toronto, Ontario -- In this week's EV/AV report, the autonomous vehicle market appears set to explode, Kia's EV3 wins big at the New York Auto Show and Nottingham residents discover a fleet of abandoned electric vehicles on the side of a road.
Autonomous Explosion
A new report on the autonomous vehicle market estimates the value of the sector will grow by 24.3 percent each year until 2032.
The new report from SNS Insider found the sector was worth $3.44 billion in 2023. It is expected to reach $24.29 billion by 2032. This growth is being propelled by improvements in AI technology and the increased penetration of autonomous vehicles.
The report also found that individuals rather than businesses are driving demand for autonomous vehicles. Passenger vehicles account for 78 percent of revenues, with commercial ones responsible for just 22 percent.
Despite this, the authors concluded growth in the commercial space could outstrip the rest of the market, growing by about 26.85 percent each year until 2032.
Electrifying Interest
The Kia EV3 was named the 2025 World Car of the Year at the New York International Auto Show.This is the third time the top prize has been claimed by the South Korean OEM. Kia’s EV9 took the honour in 2024 and it’s Telluride model won in 2020.
A new report on the autonomous vehicle market estimates the value of the sector will grow by 24.3 percent each year until 2032.
The new report from SNS Insider found the sector was worth $3.44 billion in 2023. It is expected to reach $24.29 billion by 2032. This growth is being propelled by improvements in AI technology and the increased penetration of autonomous vehicles.
The report also found that individuals rather than businesses are driving demand for autonomous vehicles. Passenger vehicles account for 78 percent of revenues, with commercial ones responsible for just 22 percent. Despite this, the authors concluded growth in the commercial space could outstrip the rest of the market, growing by about 26.85 percent each year until 2032.
“It is an immense honour for everyone at Kia that the EV3 has been awarded the 2025 World Car of the Year title,” said Ho Sung Song, Kia’s president and chief executive officer.
“This award highlights Kia’s global leadership in providing design-led, technologically advanced, sustainable mobility solutions and how the EV3’s class-leading attributes redefine the user experience for customers worldwide.”
The EV3 has a range of up to 605 km and can charge from 10 to 80 percent in 31 minutes. According to the company, the innovative interior design optimizes space, comfort and accessibility.
It seems the judges agreed. The EV3 was selected by a jury of 96 international automotive journalists from 30 countries. It beat out the BMW X3 and Hyundai Inster/Casper Electric in the final round. The evaluation process, managed independently by KPMG, involved test drives and professional assessments conducted over the past year.
Unexpected Interlopers
Nine new, luxury EVs were found abandoned on the side of a U.K. road.
The small fleet of Ocean SUVs, which were found in Nottingham, were manufactured by the Fisker Group, a now-defunct U.S. vehicle manufacturer. The company filled for bankruptcy in 2024 and went into liquidation later in the year.
According to reports, the vehicles had been in the custody of a local dealership that had reached an agreement to distribute the vehicles before Fisker’s collapse
After their discovery, the vehicles were recovered by an auction house that is seeking to recover funds on behalf of Fisker investors.
Based on the results of similar auction conducted in the U.S., the Ocean EVs are likely to collect between $3,500 and $22,000 each when they go under the gavel.
