Tesla's China EV sales rise 3.7% y/y to 61,000 vehicles in June
The U.S. automaker's EV sales rose 59% from May to 61,000 vehicles in China last month.
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Reuters
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- Reuters
Louis Vuitton Korea says systems breach led to customer data leak
SEOUL, July 4 (Reuters) - A systems breach at Louis Vuitton ( opens new tab Korea in June led to the leak of some of customer data including contact information, but did not involve customers' financial information, the luxury brand's South Korea unit said on Friday. "We regret to inform that an unauthorized third party temporarily accessed our system resulting in the leak of some customer information," the unit said in a statement. The company became aware of the breach on Wednesday and had notified government authorities, the statement said. Measures had been taken to contain the breach and to boost system security, it added. The South Korean units of two other labels, Christian Dior Couture and Tiffany, under the world's largest luxury group have been under government investigations since May for customer data leaks they reported earlier in the year, according to the country's Personal Information Protection Commission.
The Independent
an hour ago
- The Independent
Tesla sales grow again as EVs account for a quarter of car sales in June
Latest new car sales figures show a sharp increase in the take-up of electric cars with 46,354 new EVs registered during June, an increase of 39.1 per cent on June 2024. That means a quarter of all cars sold in June were fully electric. So far in 2025, 224,841 electric cars have been registered, accounting for 21.6 per cent of the entire car market. Even though that represents over 34.6per cent growth year-on-year, that still falls short of the government target of 28 per cent market share for EVs in 2025. Tesla returned to the top of the EV sales charts with sales up 14 per cent year-on year. Deliveries of the new Tesla Model Y have started to come on stream with 4,181 of them delivered to new owners in June. Deliveries of the Tesla Model 3 also picked up with 3,538 sold. Although the overall van market has declined so far in 2025, demand for electric vans has grown by a massive 52.8 per cent. However, that also falls well behind the government's ZEV Mandate target for vans of 16 per cent for 2025. Mike Hawes, SMMT Chief Executive, said, 'A second consecutive month of growth for the new car market is good news, as is the positive performance of EVs. That EV growth, however, is still being driven by substantial industry support with manufacturers using every channel and unsustainable discounting to drive activity, yet it remains below mandated levels. As we have seen in other countries, government incentives can supercharge the market transition, without which the climate change ambitions we all share will be under threat.'
The Independent
an hour ago
- The Independent
China warns Trump's tariff war will have ‘no winners' as deadline looms
Han Zheng warned, in an apparent jab at Donald Trump, that tariff and trade wars would have no winners even as Beijing and Washington stepped up efforts to resolve their disputes. Addressing the World Peace Forum in Beijing, Mr Han said the multilateral trade system was key to avoiding disruptions in global supply chains. He made the remarks just days ahead of the 9 July deadline for countries on Mr Trump's tariffs list to negotiate trade deals with the US. The Chinese commerce ministry said this week that it hoped the US would continue to meet it halfway and maintain the stability of bilateral trade and economic relations, which nosedived earlier this year when Mr Trump imposed punishing import levies on the country. 'We hope the US side will deeply understand the mutually beneficial and win-win nature of China -US economic and trade relations," the ministry said. It called on Washington to preserve the positive momentum on talks to resolve disputes while warning third countries against "making a deal at the expense of China 's interests' with the US. China had retaliated against the Trump levies by suspending exports of a wide range of critical minerals and magnets. During a round of trade talks in Geneva in May, Beijing committed to removing the restrictions imposed since 2 April but the US said the critical materials were not moving as fast as agreed. A breakthrough came during talks in London the following month when the two sides agreed a framework to implement the Geneva agreement. 'China is currently reviewing and approving eligible export licence applications for controlled items," the commerce ministry said, referring to the rare earth export curbs. In response, the US took actions "to lift a series of restrictive measures against China' and 'informed Beijing about the relevant situation", the ministry said, confirming reports that Washington had resumed exports of chip design software, ethane and jet engines to the Asian giant. "Teams on both sides are stepping up efforts to implement relevant outcomes of the London framework," the ministry said, calling the framework "hard-won". US commerce secretary Howard Lutnick told Bloomberg last month that China was 'going to deliver rare earths to us" and, once they did, the US would 'take down our countermeasures". Thanks to this trade truce, China is not at risk of being hit with higher levies when the 90-day pause on the implementation of Mr Trump's tariffs ends next week. But Mr Trump's trade deals with the UK and Vietnam suggest China may remain an indirect target, according to China Economics head Julian Evans-Pritchard. "It seems that Trump is keen to crack down on the rerouting of Chinese exports via third countries, which has diminished the effectiveness of US tariffs," Mr Evans-Pritchard told Reuters.
