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The Independent
2 hours ago
- The Independent
Top executives depart Tesla after months of turmoil and sales slump
Top executives have recently departed Tesla after months of turmoil caused by CEO Elon Musk 's stint in politics and a sales slump at the electric car company. Troy Jones, vice president of sales, service and delivery in Tesla's North American market, left the firm after 15 years, The Wall Street Journal reported Tuesday, citing people familiar with the matter. Several other Tesla higher-ups have left the company in the past year. Milan Kovac, a vice president of engineering who oversaw Tesla's development of its humanoid robot Optimus, announced his departure in June. 'This week, I've had to make the most difficult decision of my life and will be moving out of my position. I've been far away from home for too long, and will need to spend more time with family abroad,' Kovac, who had worked at the company for more than nine years, wrote on X at the time. He added: 'I want to make it clear that this is the only reason, and has absolutely nothing to do with anything else. My support for @elonmusk and the team is ironclad - Tesla team forever.' Jenna Ferrura, Tesla's director of human resources for North America, has also left. Bloomberg reported in June, citing people familiar with the matter, Ferrura no longer appeared in the company directory. Omead Afshar, who oversaw sales and manufacturing operations in North America and Europe, has departed the company as well. Forbes reported in June, citing people familiar with the matter, Afshar was fired by Musk after being promoted to his position in October. Bloomberg called Afshar one of Musk's 'closest confidants,' working at the company since 2017. The E-suite shakeups come during a rough few months for Tesla. Musk made waves among a key demographic of EV buyers when he led President Donald Trump 's Department of Government Efficiency. Musk left the White House in late May, and his relationship with Trump quickly soured. There have been protests at Tesla dealerships and even some cases of attacks on property at car showrooms and lots, charging stations and involving privately owned Tesla cars. Against this backdrop, Tesla's global vehicle sales dropped 13.5 percent in the second fiscal quarter of 2025, the Journal reported earlier this month. The company reported worse-than-expected Tesla deliveries. There were 384,122 Tesla vehicles delivered in the second quarter, off the 387,000 estimate from analysts, according to FactSet. Tesla's stock has also significantly decreased over the past six months. The stock was at around $413 per share on January 16, compared to about $308 per share on Tuesday, according to MarketWatch. The company has been trying to entice customers with an updated Model Y midsize SUV and a cheaper version of its Cybertruck. June was a particularly big month for Tesla as the company unveiled new versions of its Model S and Model X luxury cars and launched a pilot of its robotaxi service in Austin.
Auto Blog
2 hours ago
- Auto Blog
Will Tariffs Bring Volvo's Popular SUVs to American Factories?
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. View post: Walmart is selling a 'lightweight' $75 mini chainsaw for just $33, and shoppers say it's a 'little powerhouse' Your next Volvo might be made in the USA According to a new report by Automotive News, Swedish automotive powerhouse Volvo may be considering shifting production of two of its most popular models to its U.S. production facilities to mitigate the most severe effects of President Trump's tariffs on its imported models. Two people familiar with the plan told AutoNews that the Swedes plan to build two of their popular crossovers, the midsize XC60 and the full-size XC90, at their factory outside of Charleston, in Ridgeville, South Carolina. They state that production of the smaller XC60 would commence first in January 2027, with the larger XC90 to follow in October 2028. Honda may move the next-generation Civic production from Mexico to the U.S. Watch More According to one of the sources who spoke with AutoNews, Volvo expects to build about 60,000 XC60s and 50,000 XC90s annually in the U.S., which would take advantage of the factory's 150,000-vehicle capacity. Currently, the brand makes just two cars at the South Carolina factory: Volvo's own EX90 electric full-size SUV and the Polestar 3 for its sister EV brand. June 2025 Volvo Car USA sales numbers reveal that the two bestselling Volvo vehicles in the States are the cars that are alleged to be localized. In the first half of the year, Volvo sold 21,907 units of the mid-size XC60 and 19,748 units of the full-size XC90. In total, the two crossover SUVs made up a whopping 64% of the 64,680 cars it moved in the U.S. through June. Volvo is currently shuffling its cards Source: Volvo The news of the alleged plans comes amid the news of some significant financial speed bumps for the Swedes. According to a July 14th report by Bloomberg, Volvo's car division is taking an impairment charge (a Wall Street and accounting term used to describe the diminishing in quality, strength, amount, or value of an asset) of 11.4 billion Swedish kronor (~$1.2 billion) due to delays to some of its electric models and the escalating cost of tariffs. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple 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. Specifically, Volvo is pinning the charges on hiccups related to the electric EX90 SUV and its electric sedan counterpart, the ES90. In a statement, they note that increased development costs have cut into potential profits from the EX90. Additionally, Volvo has raised concerns that tariffs have made the ES90 unfeasible for sale in the U.S. and threaten any EU sales profits. 'Given market developments such as import tariffs in the US, development and launch delays for the EX90, and strategic investment prioritizations, we have reassessed volume assumptions for these two cars. This has resulted in a lower than planned lifecycle profitability,' Volvo Cars CFO Fredrik Hansson said in a statement. Source: Volvo Recently, Volvo Cars CEO Hakan Samuelsson shared that the company would be taking a page from Nissan's book and starting its own austerity program, aiming to save over 18 billion kronor (about $1.85 billion). Part of this plan includes cutting 7% of the global workforce, which means around 3,000 jobs. These changes come after Volvo saw a 60% drop in operating income for the first quarter, and they're meant to help steady the company as it deals with tougher trade tariffs and slowing demand for EVs. However, since rejoining the company on April 1, Samuelsson has hinted at significant plans for the South Carolina factory, stating in a May Bloomberg interview that the company wants to 'bring in something rather fast, and something selling in good numbers,' adding that 'something midsize core is a good guess. Source: Volvo Additionally, the Volvo CEO has publicly expressed that he sees the situation with Trump's tariffs as an opportunity to boost and localize U.S. production. During Volvo's annual general meeting on April 3, Samuelsson told shareholders that globalization is being 'dismantled,' adding that they need to 'learn from the Chinese how to localize.' 'To get around these high 25 percent import tariffs, we need to look at localizing more, increasing the volumes in the factory, and getting the volumes up to get the cost down,' he said. Final thoughts Volvo is not alone in its resilience against the current tariff agenda set by the administration. However, the company has faced some unfortunate decisions in the past regarding its South Carolina plant. For example, the factory opened in 2018 to produce the S60 sedan, just as the sedan market began to shift toward crossover SUVs. Last year, Volvo started assembling the EX90 SUV at this plant and later introduced the Polestar 3, but demand for electric vehicles (EVs) has since slowed down. However, Volvo CEO Samuelsson seems committed to revitalizing Volvo after a period of unstable leadership. Although he is determined to increase American production of high-volume models amidst challenging trade discussions between nearly every nation, any decisions about the company's future must be carefully calculated. About the Author James Ochoa View Profile
Auto Blog
5 hours ago
- Auto Blog
Amazon is selling an ‘sturdy' $30 car phone holder for just $15, and shoppers say it's ‘the best'
View post: Walmart is selling a 'lightweight' $75 mini chainsaw for just $33, and shoppers say it's a 'little powerhouse' Autoblog aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission. If your vehicle doesn't have an integrated infotainment system, a good phone holder is essential for enjoying hands-free control over navigation, music, and other apps. It's not only a matter of convenience and safety, but in some places it's outright illegal to hold your phone while driving, making a dash mount something you can't drive without. To that end, we suggest considering the Lisen Car Phone Holder, which is on sale now at Amazon for 49% off. That's not only a great deal, but reviewers have declared that the holder is 'outstanding' with over 3,000 five-star ratings. Lisen Car Phone Holder, $15 (was $30) at Amazon While different car phone holders affix to your dashboard in different ways, this mount specifically attaches at your vehicle's existing CD player or vents, resulting in a sturdy connection that doesn't clutter up other parts of the dash. It can support phones of any size, holding them in locking arms to ensure security. It's highly adjustable so that you can find the exact right positioning, and it allows you to swivel the phone to any direction thanks to its 360-degree mobility. According to shoppers, this 'excellent,' car phone holder is 'a must' thanks to the fact that it's 'very adjustable,' and 'sturdy.' As one put it, it's 'the best phone holder I've found,' saying it's a 'great product, easy to install.' 'This is one of the best phone holders,' said one reviewer. 'I can lock it into place in my CD slot and adjust it to my liking and lock. It has an easy release button and notch [on the] bottom for a charging cord. It fits both large Samsung and small iPhones. I really like that the head can swivel from driver to passenger, so they can input addresses while driving. You can also use it vertically or horizontally.' Ready to upgrade your dash mount? Order the Lisen Car Phone Holder today, because this 49% off deal is only available for a limited time. Buy now, save money, and secure your phone. About the Author Nick Hilden View Profile
