Ford's US auto sales rise 16% in May
Sales of the company's F-Series trucks were up 15% at 79,817 vehicles during the month.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
32 minutes ago
- Daily Mail
Elon Musk hit with stunningly bad news for the second day in a row… at hugely important moment for Tesla
Tesla sales have slipped again, falling short of Wall Street expectations. The EV maker delivered just over 384,000 vehicles to customers between April and June — a 14 percent drop from the same period last year, when 444,000 customers put new Teslas in their driveways. Analysts had expected Tesla to deliver closer to 387,000 vehicles this quarter, marking the second consecutive quarter the company missed delivery targets. It comes after Tesla shares tumbled on Tuesday after Musk reignited his social media war with President Donald Trump, criticizing his proposed tax and spending bill. Unlike most automakers, Tesla doesn't break down sales by model. For example, Ford tells investors how many F-150 pickups rolled off dealership lots. Tesla keeps its sales data vague — reporting total deliveries and picking larger sales data to share with the public. This was a crucial quarter for some of Tesla's top-selling vehicles. The refreshed Model 3 and Model Y — its most popular cars — recently hit the American roadways with updated designs. Tesla said it produced 396,835 units during the three-month period and sold a combined 373,728 of the two, though it didn't specify how many of each model made it to customers. Higher-end Model S and Model X vehicles received modest updates this past quarter. Despite the sales miss, Tesla stock rose between 3.5 and 5 percent in pre-market trading, before settling closer 2 percent after Wall Street opened. The modest rally followed a rough Tuesday, when CEO Elon Musk stirred controversy after clashing with President Donald Trump. Musk, who recently left his role as White House advisor, took to social media to criticize Trump's proposed tax and spending bill. On X, formerly known as Twitter, Musk said the bill's reported $3 trillion price tag would send the country into 'DEBT SLAVERY,' and threatened to fund primary opponents to Republicans who supported the bill. Trump hit back with a series of threats, suggesting the federal government could launch investigations into Musk's companies. He even hinted at deporting Musk, who was born in South Africa. 'Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa,' Trump posted on Truth Social. 'No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this?' Tesla's stock took a dive right after the barbs, dropping from $311.19 a share to $298.19 between 8:30am and 9am. The stock is down just over 19 percent since January. But investors have gotten used to the company's wild roller coaster ride, analysts said. 'For Tesla investors, volatility is a way of life,' Bret Kenwell, a US investment analyst with eToro, told 'While the path has been bumpy, it's been rewarding, with Tesla still sporting a market cap of almost $1 trillion.' Right now, investors are largely betting on Tesla's ability to deliver self-driving taxis. The company launched a modest pilot program in Texas in June after promising the tech was coming to American vehicles for year. Self-driving advancements were supposed to put Tesla in a class of its own. But there is increasing competition in the space. Waymo already has thousands of vehicles on American roads without an occupant in the driver's seat.
Reuters
32 minutes ago
- Reuters
Exclusive: Google makes new proposal to stave off EU antitrust fine, document shows
BRUSSELS, July 2 (Reuters) - Google (GOOGL.O), opens new tab has proposed fresh changes to its search results in an attempt to fend off growing criticism from rivals, a week before a key meeting that could lead to yet another EU antitrust fine, according to a document seen by Reuters. The U.S. tech giant has been under pressure after being hit in March with European Union antitrust charges of unfairly favouring its own services such as Google Shopping, Google Hotels and Google Flights over competitors. The company, owned by Alphabet, will meet its rivals and the European Commission to discuss its proposals during a July 7-8 workshop in Brussels, the document said. The EU's landmark Digital Markets Act, under which Google has been charged, sets out a list of dos and don'ts for Big Tech aimed at curbing their power and giving rivals more room to compete and consumers more choice. Last week, Google offered to create a box at the top of the search page for a so-called vertical search service (VSS) which would contain links to specialised search engines as well as to hotels, airlines, restaurants and transport services. The latest offer, called Option B, is an alternative to last week's proposal, according to a Google document sent by the Commission to involved parties and seen by Reuters. "Under 'Option B', whenever a VSS box is shown, Google will also show a box that includes free links to suppliers," the document said. The box for suppliers - in essence hotels, restaurants, airlines and travel services - would be below the VSS box, with Google organising the information about the suppliers. Option B "provides suppliers opportunities while not creating a box that can be characterised as a Google VSS", the document said. "We've made hundreds of alterations to our products as part of our DMA compliance," a Google spokesperson said. "While we strive for compliance, we remain genuinely concerned about some of the real world consequences of the DMA, which are leading to worse online products and experiences for Europeans." Google risks a fine as much as 10% of its global annual revenue if found in breach of the DMA.
Reuters
36 minutes ago
- Reuters
Glencore announces $1 billion share buyback
July 2 (Reuters) - Glencore (GLEN.L), opens new tab said on Wednesday it will buy back shares worth $1 billion starting next week following the merger of global agribusiness Bunge Global (BG.N), opens new tab with its grain handler Viterra. The miner, which will hold 16.4% of the enlarged company and $900 million in cash, considers NYSE-listed Bunge shares as surplus capital.
