New Tesla sales in Spain rise 27% in July, other EV sales more than double
Sales of Tesla cars in Spain were up 1.1% in the first seven months of 2025 from the same period a year earlier, while total sales of electrified vehicles, a category that includes both fully electric vehicles and hybrids, were up 93%.
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Reuters
27 minutes ago
- Reuters
Indexes up 1%; investors ramp up rate-cut views after weaker payrolls
NEW YORK, Aug 4 (Reuters) - Major U.S. stock indexes rose 1% on Monday as investors sought bargains after the previous session's selloff and increased bets for a September rate cut in the wake of Friday's weaker-than-expected jobs data. Tesla (TSLA.O), opens new tab shares rose 2.1% after the electric vehicle maker granted CEO Elon Musk 96 million shares worth about $29 billion. Odds for a September rate cut now stand at about 84%, according to CME Fedwatch. Market participants see at least two quarter-point cuts by the end of this year. Friday's bleak July jobs data also accompanied steep downward revisions for May and June. "Today is just a little bit of dip-buying. It does show a pretty healthy sign of folks out there looking for an opportunity to get in," said Mike Dickson, head of research and quantitative strategies at Horizon Investments in Charlotte, North Carolina. "It's a little concerning in the sense the labor market ... definitely appears to be weaker than people expected. A bit of an offset to that is the renewed rate cut expectations. There's a high probability we're getting a September cut." The S&P 500 and Nasdaq had hit a string of record highs recently. The S&P 500 is now up about 7.5% for the year to date. The Dow Jones Industrial Average (.DJI), opens new tab rose 489.91 points, or 1.12%, to 44,078.39, the S&P 500 (.SPX), opens new tab gained 81.33 points, or 1.30%, at 6,319.34 and the Nasdaq Composite (.IXIC), opens new tab climbed 377.21 points, or 1.83%, to 21,027.34. Investors were still digesting Trump's firing of the Bureau of Labor Statistics Commissioner Erika McEntarfer on Friday, accusing her of faking the weak jobs numbers. Also on Friday, Fed Governor Adriana Kugler unexpectedly resigned, which could open the door for U.S. President Donald Trump to reshuffle the central bank's leadership in his favor. Trump has been pushing the Fed to cut rates. Among rising shares, Spotify (SPOT.N), opens new tab gained 6% as the music streaming platform announced plans to raise the monthly price of its premium individual subscription in select markets from September. Joby Aviation (JOBY.N), opens new tab jumped 21% after Bloomberg News reported that the company was exploring the acquisition of helicopter ride-share operator Blade Air Mobility (BLDE.O), opens new tab. Blade Air's shares surged 22%. Advancing issues outnumbered decliners by a 4.23-to-1 ratio on the NYSE. There were 103 new highs and 45 new lows on the NYSE. On the Nasdaq, 3,322 stocks rose and 1,126 fell as advancers outnumbered decliners by a 2.95-to-1 ratio.
Reuters
30 minutes ago
- Reuters
McLaren must also deal with disappointment amid runaway success
LONDON, Aug 4 (Reuters) - McLaren boss Zak Brown is preparing to deal with disappointment at the end of the Formula One season, even as the team enjoy one of their most dominant years and a 200th grand prix win at the weekend. As the title battle between Oscar Piastri and teammate Lando Norris heats up, the McLaren pair separated by just nine points after Sunday's Hungarian Grand Prix, the American conceded he was thinking also about how to handle the aftermath. Red Bull's reigning champion Max Verstappen, the McLaren drivers' closest rival, is now 97 points off the pace and told reporters at the weekend that he may not win again this year given his car's issues. Even before the weekend, both Piastri and Norris cast caution aside and called it a two-horse race. One of them will surely end the year celebrating a dream come true. The other will rue what might have been, with a new engine era next season shaking everything up again and chances potentially disappearing. Losing always hurts, doubly so when it is to a teammate with the same car, and Brown said McLaren would have to deal with the situation sensitively when -- although he still insisted on saying if -- the time came. "Eventually... we'll just sit down and actually have a conversation and go 'right, one of you is going to win and it's going to be the best day of your life. One of you is going to lose. How do you want us to handle that?'," he told a select group of reporters. "We'll actually sit down and go 'Right, you want us to jump up and down and celebrate? This guy won'. So we're fully aware and sensitive to 'how do you celebrate that situation?'." Australian Piastri has won six races to Norris's five but the Briton has momentum going into the August break, with three wins from his last four starts. The pair have had seven one-two finishes from 14 races, including the last four, and have left rivals trailing. McLaren are so far ahead in the constructors' standings -- 299 points over Ferrari -- that the crown is a given. Much has been made of the potential for a falling out between friends, for clashes on track given what is at stake, but Brown was sanguine and said the relationship was only growing stronger. When Norris ran into the back of Piastri as he challenged for the lead in Canada in June, the Briton defused the situation by immediately taking responsibility. Piastri locked up behind Norris in Hungary on Sunday, in what could have been a repeat of that Montreal accident, but no contact was made. Brown said there was no 'elephant in the room' at McLaren, with the drivers having complete transparency on strategy and how the team go about racing, and he expected more close calls in future. "There's competitiveness brewing... as the championship builds, I'm sure that tension will grow," said the boss. "We're fully anticipating them 'swapping paint' again at some point, I'm very confident it won't be deliberate, which is where you then get into the problems. "They will have racing incidents in their further time here at McLaren, we know that and they know that, so we're not afraid of that. "I'm positive they're never going to run each other off the track, and that's where you get into bad blood. So they're free to race... there are rules around our racing, which is respect your teammate, they know that."
Auto Blog
an hour ago
- Auto Blog
Never-Before-Seen Sketches Show How Cool Volkswagen Wanted To Be
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. A Familiar Alien If you're a hardcore Volkswagen fan, you're probably aware of and interested in cars that the German automaker sold outside your home country. For such individuals, the shape in these never-before-published sketches shared to LinkedIn looks incredibly familiar, calling to mind Brazil's Volkswagen SP2, an air-cooled coupe produced from 1972 to 1975 on the widened bones of a Karmann Ghia VW Type 14 with a Type 3 'pancake' (boxer/horizontally opposed/flat) engine. Indeed, the SP2 inspired Volkswagen designer Tibor Juhasz back in 2017, when Volkswagen was evaluating various ways of offering EVs to the public. Why The Concept Was Considered 'Back in 2017, my SP2 proposal was born from pure intuition. It envisioned an electric future powered by progress, yet deeply rooted in classic values,' explained Juhasz on LinkedIn. 'My goal was clear: build forward without losing what defines us. Emotion, energy, and vision came together to create something that still resonates today.' According to his colleague, Stepan Rehak, who shared the sketches first spotted by Top Gear, the 'sporty concept proposal' would have been built on the MEB platform, so it might have been relatively cost-effective to build. But the whole reason Volkswagen was working so fervently on all-electric vehicles at this time was to try to salvage its reputation following the immensely expensive Dieselgate scandal; the last thing VW needed was a sporty EV that would almost certainly sell in low volumes, even if it were offered globally, so it's no wonder management passed on the retro coupe. By providing your email address, you agree that it may be used pursuant to Arena Group's Privacy Policy. Just Get The Original A little over 10,000 of the original SP2 were made, so they're rare. But not necessarily expensive. According to the average value over the last five years has hovered around $24,000. Very few examples are on sale in America, but a resprayed 1975 model with around 41,000 miles is selling for $21,000 on Bring a Trailer, with four other examples on each different model years and different colors, ranging in price from $39,990 to $53,500. As an air-cooled Volkswagen from the 1970s, it'll need babying and lots of rust prevention, but I guarantee you'll draw more attention than the average Lambo. About the Author Sebastian Cenizo View Profile
