Latest news with #EVincentives
Yahoo
2 days ago
- Automotive
- Yahoo
Why Tesla Deliveries Could Hit Yet Another Speed Bump
Key Points Tesla is facing another lawsuit regarding its self-driving claims. The California DMV is trying to suspend Tesla's dealer license for 30 days. The EV maker has also launched a new round of buyer incentives. These 10 stocks could mint the next wave of millionaires › Tesla (NASDAQ: TSLA) sure can't catch a break right now. The electric vehicle (EV) maker is dealing with declining deliveries in major markets and facing consumer backlash after CEO Elon Musk's dive into politics. Despite the ongoing issues facing Tesla, the automaker was banking on a solid third quarter for deliveries due to demand being pulled forward from the inevitable end of the federal incentive for EVs. Unfortunately, the newest potential problem could put a major kink in third-quarter deliveries as the automaker might not be able to sell EVs in California for a month. Here's what's going on. License revoked? There's the potential that the automaker could lose its license to sell vehicles in California due to a false-advertising lawsuit brought by the state's Department of Motor Vehicles (DMV). The department wants to suspend its sales in the nation's largest EV market for 30 days because it has been in a legal dispute with the company over the advertising language for its Autopilot and full self-driving (FSD) capability. This suit has been brewing for some time. The state DMV started investigating Tesla for possible misleading advertising in 2021 and then sent an official inquiry to the automaker roughly a year later. Now, things are taking another step forward with a court holding a five-day hearing on the case this week and with the DMV pushing to get the manufacturer's dealer license suspended for a full month, which would deal a devastating blow to the company's third quarter. California is easily the most valuable EV market in the U.S. Tesla is all in This would be a huge setback because management was essentially preparing to go all in during the third quarter, which was expected to be the last strong quarter for EV sales in the near term, as the markets slowly digest tariffs, rising prices, and the removal of the federal tax credit for EVs. In fact, the company just launched a long list of new discounts and incentives to boost deliveries of its EVs in the U.S. All new vehicles carry a $7,500 lease incentive with delivery by Sept. 30; $1,000 off for members of the military, first responders, students, and teachers; a free one-month trial of supervised FSD; a free transfer of supervised FSD from a buyer's current Tesla; and a trial of its Premium Connectivity for 30 days for the Model 3 and Y and one year for the Model S, X, and Cybertruck. Tesla even took it a step further with added discounts on specific models that can be combined with incentives for all models. Management is certainly banking on the third quarter to move some product. What it all means Tesla hasn't been catching many breaks in 2025, and investors would be wise to pay close attention to its lawsuit in California, which could deal a devastating blow to the company's third-quarter deliveries and financials. If Tesla manages to avoid having its sellers license suspended, the company's incentives and discounts should drive a stronger quarter, which would finally be a bit of good news for investors. Don't miss this second chance at a potentially lucrative opportunity Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $450,583!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $40,580!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $636,774!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of July 21, 2025 Daniel Miller has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. Why Tesla Deliveries Could Hit Yet Another Speed Bump was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-07-2025
- Automotive
- Yahoo
UK Plans New Measure to Boost EV Sales, Transport Secretary Says
(Bloomberg) -- The UK plans to introduce new incentives to make it cheaper for people to buy new electric vehicles as the Labour government attempts to phase out the sale of polluting cars. Singer Akon's Failed Futuristic City in Senegal Ends Up a $1 Billion Resort Why Did Cars Get So Hard to See Out Of? Can Americans Just Stop Building New Highways? How German Cities Are Rethinking Women's Safety — With Taxis Philadelphia Trash Piles Up as Garbage Workers' Strike Drags On Speaking on Sunday, Transport Secretary Heidi Alexander confirmed she will be announcing new measures to boost sales of EVs this week but declined to directly address reports in the Telegraph and the Times that the incentives will include up to £700 million ($948 million) in new subsidies and grants to buyers to help offset costs. 'We will be making it cheaper for those who do want to make the switch to electric vehicles,' she told the BBC in an interview. As part of those efforts, Alexander's office on Sunday announced plans to invest £63 million in building charging points at homes and logistics depots around the UK, including funds for charging points at residences without driveways. Her department also outlined a £2.5 billion program to support automakers in the transition to zero-emission vehicle manufacturing. The investments are part of the government's efforts to boost new sales of EVs, which are on average more than twice as expensive as their petrol counterparts. The UK is Europe's biggest EV market and the government has set a 2030 deadline to fully phase out sales of petrol- and diesel-powered automobiles and a 2035 cutoff for hybrids. Sales statistics show automakers are falling short of government-mandated targets to increase the proportion of EVs sold ahead of those deadlines. Automakers have blamed the shortfall on consumer anxieties about the high cost of EVs and lack of charging stations. Trump's Cuts Are Making Federal Data Disappear 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions Soccer Players Are Being Seriously Overworked Will Trade War Make South India the Next Manufacturing Hub? Trade War? No Problem—If You Run a Trade School ©2025 Bloomberg L.P.
The Verge
11-07-2025
- Automotive
- The Verge
The great EV pullback has begun
Electric vehicles are at a crossroads. Sales are still going up, but many automakers are canceling or delaying new models, worried by recent policy moves that will make EVs more expensive to own. Every day seems to bring fresh news of a delayed EV or a timeline that's been pushed back, as automakers struggle to adapt to this newly volatile environment. President Donald Trump's tariffs aren't helping much, nor is the recent passage of his $3.4 trillion 'big, beautiful' budget bill, which takes a sledgehammer to most EV incentive programs. And Trump's decision to reverse tougher emissions rules passed under former President Joe Biden is just icing on a pretty unappetizing cake. Expect a big push by car dealers to sell EVs before the $7,500 tax credit ends in September. But after that, the future looks dicey. Many car companies are still assessing the damage, but delaying future models seems like the most popular move right now. 'Today's escalating challenges could be deemed insurmountable' 'Automakers that delayed launches over the last few years might have benefited from monitoring the market; however, today's escalating challenges could be deemed insurmountable, likely resulting in more outright cancellations if the models lack a future abroad,' says Ivan Drury, director of insights at Edmunds. To be sure, EVs are absolutely here to stay. As many surveys have found, once you go EV, you're less likely to ever go back to internal combustion engines. Drury notes that nearly half the time (45 percent) an EV is utilized as a trade-in at a dealership for a new vehicle, the purchase is for another EV. But in the interest of clarity, let's do a run down of all the models' uncertain futures. Ferrari pushed back plans to launch its second fully electric vehicle, according to a report from Reuters, with an anonymous source noting that there is 'zero' demand for high-performance electric cars right now. The Blue Oval had the foresight to cancel its three-row electric SUV before Trump's win in the US presidential election last November. Instead, Ford is banking on a future lineup of inexpensive EVs that are under development by its skunkworks team in Silicon Valley. In the meantime, Ford expects to release a bunch of new gas and hybrid-powered three-row SUVs. The Japanese automaker has reportedly canceled plans for a large electric SUV. It was supposed to launch in 2027, but according to a report from Nikkei Asia, Honda has halted development on the model and slashed how much it plans to spend on EVs through 2030. This comes two years after Honda canceled its plan with GM to jointly release a new lineup of cheaper EVs. Honda says it still plans on releasing its Honda Zero models in the US next year. The ultra-luxury sports carmaker is considering postponing its first EV, the production version of the Lanzador concept from 2023, citing cooling market conditions. Lamborghini is also delaying its plans for an all-electric Urus. Instead, it plans to release a performance version of its plug-in hybrid crossover. Nissan is cutting production plans for its refreshed Leaf EV and is delaying two EVs that were scheduled to be built at its Canton, Mississippi, plant. According to an internal memo, Nissan is delaying production of the Leaf by about 10 months, citing slowing US demand as a result of the Trump administration's decision to cut EV tax credits. Rivian, which just received another $1 billion from its joint venture with Volkswagen, says it's still going ahead with its plan to release the R2 in 2026. But there's no word on when the buzzy R3 hatchback will go into production. 2026 is the same year that Slate Auto is expected to begin delivering its barebones electric truck, which was supposed to cost 'under $20,000' thanks to EV incentives. Now that those tax breaks are gone, Slate has scrubbed the price promotion from its website, replacing it with an expected price in the 'mid-twenties.' I'm also nervously watching Volkswagen's lineup of affordable EVs, which right now go by the model names (priced at €20,000, or about $20,800) and ID.2all (€25,000, or about $29,200). The company is finally seeing some success with its EVs, with global sales surging about 50 percent in the first half of 2025 year over year. But Volkswagen is struggling to sell its electric van in the US, which could ultimately dissuade it from bringing its cheaper models to North America. And there's also no official word about Tesla's supposed affordable EV. Tesla, which is on track to sell less EVs this year (and for the second consecutive year), hasn't said when the new model will be released. It's expected to be a cheaper version of the Model Y. Meanwhile, China's EV market continues to grow. Morgan Stanley recently estimated that China's battery-electric market is seven times larger than the US, with the lead widening every year. Drury says those hoping for an all-EV future may want to temper their expectations. 'While EV supporters may be hoping for a replacement ratio closer to one-to-one, it's worth considering that EV tech has a long runway of advancement for future generations,' he says, 'even if that future is delayed.'
News.com.au
09-07-2025
- Automotive
- News.com.au
Why Honda put the brakes on EVs
Honda has reportedly put the brakes on a large electric SUV, following President Trump's decision to cut EV incentives in the US. The Japanese giant is preparing to roll out a new range od battery-powered models based on the Concept 0 SUV and sedan unveiled at the CES conference in Las Vegas this year. It originally planned to follow the five-seat SUV and sedan with a seven-seat SUV, but has reportedly pulled the plug on that project. A report by the Asia Nikkei states that Honda suspended plans to introduce a big EV, as demand for sizeable electric cars has been weaker than expected. President Trump's decision to axe a $7500 Federal tax credit for EV customers reportedly contributed to Honda's stance. Honda scraps EV SUV development due to decreased US demand — Nikkei Asia (@NikkeiAsia) July 5, 2025 The change to EV concessions is part of sweeping legislation described by Trump as a 'big, beautiful bill', and an 'abomination' by Tesla chief executive Elon Musk. Honda has reportedly slashed about ¥7 trillion ($31 billion) from its research and development budget for electric cars. It's a tough call from a brand that aimed to merge with Nissan six months ago. The approach is not surprising, as large electric cars have struggled to find traction. Kia's EV9 is the first electric seven-seater in Australia. The critically acclaimed model starts from about $106,500 drive-away, and runs to about $139,500 plus optional extras in Australia. As a result, Kia has sold just 165 examples of the EV9 in Australia this year, far less than the similar-sized combustion-powered Sorento that has found 5165 homes in the first six months of the year. That sort of sales ratio is not uncommon for electric models. Mercedes has sold 25 combustion-powered S-Class sedans for every electric EQS this year, while VW's cheaper Tiguan and Tiguan Allspace outsell the electric ID.4 and ID.5 by about 10 to 1. Several manufacturers have pushed back electric car sales and production targets in Australia and beyond. Ferrari has reportedly put off plans to build an electric SUV, Lamborghini has pushed back an electric model based on the next-generation Porsche Cayenne, Audi has extended a self-imposed deadline on combustion-powered products, and Mercedes has promised to introduce more V8-powered petrol models in response to customer demand.
Motor Trend
08-07-2025
- Automotive
- Motor Trend
Slate's Low, Low Price Won't Get Any Lower With EV Tax Credit Repeal
Newcomer automaker Slate made headlines when it revealed a highly customizable electric mini-pickup with a $20,000 price tag—said price followed by the expected asterisk and 'after state and Federal incentives'. With the passage of the One Big Beautiful Bill Act, Federal EV incentives are going away, so one of the Slate truck's most appealing aspects will change. As of now, Slate's web site is referring to the pickup truck's price as 'mid-twenties'. The repeal of federal EV incentives under the One Big Beautiful Bill Act raises Slate's electric mini-pickup price from $20,000 to "mid-twenties," reducing its appeal. Despite its customizable features, the increased cost diminishes its competitiveness against other EVs and hybrids. This summary was generated by AI using content from this MotorTrend article Read Next We at MotorTrend have been anticipating changes and/or an end to Federal EV incentives for quite some time, so we've been cautiously referring to the Slate as a $27,000 pickup. What we don't know is if Slate's new mid-$20,000 price is a pre-incentive price, or if it reflects the rosiest of possible state incentives. While not all states offer tax credits for EVs, there are still some whoppers out there. Colorado and New Jersey offer up to $5,000, while Vermont offers $4,000. California's $7,500 EV credit is set to expire in September (and still could be renewed), but some local districts in the Golden State offer their own incentives, including a $12,000 grant for buyers in certain neighborhoods who replace a high-polluting vehicle with an EV. Still, even the most loonie-lefty commie tree-huggers on the MT staff will admit that the Slate loses quite a bit of its appeal when the price jumps by 35 percent. Remember, we're talking about a single-row mini pickup truck with plastic panels and crank-down windows, and optioning it with anything nicer costs more. And that base price only gets you 150 miles of range. A 240-mile battery will be, like most things on the Slate- truck, will be an extra-cost option. Our first reaction to the new estimated price tag was to spit and sputter and say 'But you can get a new Ford Maverick hybrid for around $21,000!' Except you can't. Ford has steadily increased the price of the Maverick since its launch, and for 2025, the cheapest model—still with a hybrid drivetrain, front-wheel-drive, and unadorned steel wheels—will still set you back just under $30,000 with destination charge, a 40-percent-or-so increase since the trucklet was introduced for the 2022 model year. If the Slate were to launch with a $27,000 price tag, it'd still be a reasonable bargain among EVs, the least-expensive of which is, for 2025, the soon-to-be-replaced Nissan Leaf at $29,135. (While Nissan has not announced pricing for the 2026 model, it's expected to hold the line around $30,000.) And Chevrolet is bringing back its affordable Bolt EV this year—a vehicle that, in its previous generation, boasted more range than the big-battery Slate and was priced lower. Again, once you start adding in the equipment that the Leaf gets as standard, or the battery for the sort of range we expect the new Bolt to deliver, the Slate is likely to be more expensive—though admittedly the Slate is better suited to hauling your muddy, oil-soaked electric dirt bike. And it'll certainly still seem like a bargain compared to the $49,780 2025 Ford F-150 Lightning. Unfortunately, the loss of Federal incentives means Slate has lost one of its most appealing talking points. We still like the idea of a compact, customizable truck; we just like it less at the 'mid-20s'. We still don't know if Slate will make it to market, but if they do, perhaps they need to spend a little more money on lobbyists.
