Latest news with #ElonMusk-led
Hindustan Times
2 days ago
- Business
- Hindustan Times
Is a fourth stimulus check on the way? What you need to know about the third payment
Stimulus check speculation has been rife for a couple of weeks with many expecting a fourth payment to be rolled out soon by Trump. The first stimulus payment was issued in March and April 2020, the second payment was issued by January 15, 2021, and the third payment was issued between March and December 2021. The deadline to file for all these payments has now passed. Any unclaimed check amounts would have now directly become the property of the US Treasury. No extensions or appeals were granted in the matter. Several Americans are worried about a fourth stimulus check(Unsplash/representative ) The first stimulus payment was worth $1,200 for individuals, $2,400 for married couples, and an additional $500 per qualifying child below the age of 17. The second check was worth $600 per individual, $1,200 for married couples, and $600 per qualifying child under the age of 17. The third stimulus payment, which was provided to claim Recovery Rebate Credit for 2021, was worth $1,400 per eligible individual. The same amount was applicable per dependent for married couples filing jointly. Once your tax returns have been accepted by the Internal Revenue Service (IRS), you will receive a 'Refund Sent' alert upon checking your application status online. Following the acceptance of your claim, it wouldn't ideally take long for the payment to be processed. Those who filed their taxes electronically can expect a refund via direct deposit within 21 days. Paper checks can take from six to eight weeks. How to check your refund status? The IRS has developed an online mechanism called 'Where's my Refund?' that allows beneficiaries to self-check the status of their application. By providing your Social Security number, filing status, and refund amount, you can check the status of your refund 24 hours after filing for the same. Here are the different updates you might receive on the platform and what they mean: • Return received (processing) • Refund approved (preparing to issue a refund by the date shown) • Refund sent (send to your bank or in the mail) Is a fourth payment on the way? In February of this year, Trump announced the possibility of rolling out $5,000 stimulus checks to all eligible taxpayers if the Elon Musk-led Department of Government Efficiency (DoGE) were to be able to reach their target of cutting down by 20% on all government expenditure by eliminating 'wasteful spending'. Since then, there has been no official update regarding a possible fourth stimulus payment. The chances of this actualizing into reality remain slim given Musk's recent exit from the DoGE and their reported inability to hit the set target. Those whose taxes were electronically filed and accepted by April 15 can expect to receive their third stimulus payment by May 6 via direct deposit or by June 16th if opted for physical mail. By Stuti Gupta
Yahoo
3 days ago
- Automotive
- Yahoo
Tesla's market share in Europe falls in May despite booming EV demand, but pace of descent slows
Market demand for EVs in Europe could be building a bottom after it suffered only a 28% drop in May, the best monthly performance it has seen since the start of the year. Nonetheless its share of the overall EV market dropped to 7.2%, more than five percentage points down from the year-earlier month, amid a 27% increase in total industry EV volumes across the continent. Norway has emerged as a crucial pillar of support for Tesla in recent weeks. Tesla's market share in Europe shrunk again last month, but pockets of strength in countries like Norway suggest demand is bottoming out and the worst could be over just in time for the Elon Musk-led EV maker's quarterly business update. New aggregated industry data published on Wednesday showed vehicle sales across the continent sank by 28% in May, compared to the prior year. While still an exceptionally steep drop, the struggling brand has seen far worse and the result marks its best monthly performance in 2025. Tesla's fledgling robotaxi service in the Texan city of Austin may currently be grabbing all the headlines, but attention is set to swing back to the company's core business when it publishes global vehicle production and delivery numbers for the second quarter next week. Tesla does not break down its volumes by region, but it is no secret that Europe is by far its most challenging market—a fact not even CEO Elon Musk tries to dispute. So far volumes on the continent are down 37% during the combined months of April and May. The brand's problems in Europe represent a significant lost opportunity for Musk, since it is the second largest EV market in the world after China. On Wednesday, the European auto manufacturers association ACEA published its monthly report for new car registrations showing the overall EV market expanded at a rate of 27% to reach 193,500 vehicles. Nevertheless, the lobby group was disappointed given the amount of investment its members poured into the EV sector. One in every six new vehicles registered during the period is powered solely by electricity, a penetration rate it argued was 'still far from where it needs to be.' A key reason why it is not higher is the poor performance of EV pioneer Tesla. Its Model Y, even in refreshed form, is well past its prime and must compete in an increasingly crowded market with plenty of options from which buyers can choose. These include rivals like the Škoda Elroq compact crossover and its larger Enyaq sibling, affordable EV models from parent VW Group that are not offered in the United States. Tesla's volumes dropped in May by 28% to register only 13,863 vehicles. That lead to its market share falling to 7.2%, a 540 basis point drop in the course of just one year. Norway, the sparsely populated oil rich Scandinavian country whose annual car sales represents 1% the size of the total European market, is almost single-handedly helping stave off a collapse in Tesla. When adjusted to reflect just the EU market (which does not include Norway), Tesla's volumes sank by 40%, indicating little progress. While ACEA publishes its figures with a near four-week delay, its monthly reports remain the most comprehensive publicly available source of information on EV demand. It aggregates sales figures across all 31 countries in Europe, including all the EU member states as well as wealthy non-EU markets such as the U.K., Switzerland and Norway. June will prove pivotal for judging demand. For one, the base version of the refreshed Model Y should finally be in greater supply, following an earlier emphasis by Tesla on selling more of the higher-margin trims like the All-Wheel-Drive Model Y Long Range. Secondly, the final month of the quarter is always when Tesla does the most business in Europe, so any disappointment would suggest more persistent problems that a refreshed Model Y may not be able to solve. This story was originally featured on 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
Time of India
21-06-2025
- Automotive
- Time of India
Tesla set to open India showrooms in July with Made-in-China EVs
Tesla Inc. is set to open its first showrooms in India in July, people familiar with the discussions said, kicking off formal operations in the world's third-biggest automobile market as the Elon Musk-led firm hunts for growth amid falling sales in Europe and China. The electric vehicle giant's first set of cars have arrived in the country — Model Y rear-wheel drive SUVs shipped from Tesla 's China factory, according to the people, who asked not to be identified as the information is private, as well as documents seen by Bloomberg News. The Model Y is the world's largest selling electric car. Tesla is set to open its first showroom in Mumbai as early as mid July, which will be followed by one in New Delhi, according to the people. It has also imported Supercharger components, car accessories, merchandise and spares from the US, China and the Netherlands, the documents show. The debut will end a years-long on-again, off-again saga over Tesla's entry into India - a market Musk has long eyed but held back from entering due to disagreements over tariffs and local manufacturing. The breakthrough in bringing Tesla to India comes after Musk met Indian Prime Minister Narendra Modi in the US in February. Bloomberg News reported in February that Tesla was set to ship a few thousand cars to a port near Mumbai. Tesla spokespersons did not immediately respond to an email seeking comment on opening of the India showrooms and the preparations underway. Premium Price Five Model Y vehicles have already arrived in Mumbai from Tesla's Shanghai factory, according to documents reviewed by Bloomberg News. The cars were declared at 2.77 million rupees ($31,988) and attracted more than 2.1 million rupees in import duties — a levy that's consistent with India's 70% tariff on fully-built imported cars under $40,000 plus surcharges, the documents show. The model is expected to go on sale for more than $56,000 before taxes and insurance, though Tesla will determine the final sticker price based on its margin and positioning strategy, according to people familiar with the plans. That compares with an ex-showroom price of $44,990 for the same model in the US, which sells for $37,490 once tax credits are applied. The premium price tag will likely be a major hurdle to Tesla's plans as the automaker will need to convince value-driven consumers to open their wallets. EVs account for just over 5% of new passenger vehicle sales in India, but premium cars still represent less than 2% of the market, data with Indian government's vehicle registration portal show. Beefing Up The company hasn't appointed a new country head following the departure of Prashanth Menon, but is beefing up hiring across charging, retail and policy teams, according to people familiar with the matter. The Model Y imports represent an initial foray into the market and Tesla plans to expand its presence, including offering more models. It's leasing warehouse space in Karnataka, in India's south, and is adding more in Gurugram, outside New Delhi, the people said. Tesla executives from other countries are making weekly visits, the people said, to the Mumbai and New Delhi showrooms, which are in high-profile, luxury business precincts in an effort to attract affluent shoppers.
Business Times
21-06-2025
- Automotive
- Business Times
Tesla set to open India showrooms in July with made-in-China EVs
[NEW DELHI] Tesla is set to open its first showrooms in India in July, sources familiar with the discussions said, kicking off formal operations in the world's third-biggest automobile market as the Elon Musk-led firm hunts for growth amid falling sales in Europe and China. The electric vehicle (EV) giant's first set of cars have arrived in the country – Model Y rear-wheel drive SUVs shipped from Tesla's China factory, according to the sources, who asked not to be identified as the information is private, as well as documents seen by Bloomberg News. The Model Y is the world's largest-selling electric car. Tesla is set to open its first showroom in Mumbai as early as mid-July, which will be followed by one in New Delhi, according to the sources. It has also imported Supercharger components, car accessories, merchandise and spares from the US, China and the Netherlands, the documents show. The debut will end a years-long on-again, off-again saga over Tesla's entry into India – a market Musk has long eyed but held back from entering due to disagreements over tariffs and local manufacturing. The breakthrough in bringing Tesla to India comes after Musk met Indian Prime Minister Narendra Modi in the US in February. Bloomberg News reported in February that Tesla was set to ship a few thousand cars to a port near Mumbai. Tesla spokespersons did not immediately respond to an e-mail seeking comment on the opening of the India showrooms and the preparations underway. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Premium price Five Model Y vehicles have already arrived in Mumbai from Tesla's Shanghai factory, according to documents reviewed by Bloomberg News. The cars were declared at 2.8 million rupees (S$41,558) and attracted more than 2.1 million rupees in import duties – a levy that's consistent with India's 70 per cent tariff on fully-built imported cars under US$40,000 plus surcharges, the documents show. The model is expected to go on sale for more than US$56,000 before taxes and insurance, though Tesla will determine the final sticker price based on its margin and positioning strategy, according to sources familiar with the plans. That compares with an ex-showroom price of US$44,990 for the same model in the US, which sells for US$37,490 once tax credits are applied. The premium price tag will likely be a major hurdle to Tesla's plans as the automaker will need to convince value-driven consumers to open their wallets. EVs account for just over 5 per cent of new passenger vehicle sales in India, but premium cars still represent less than 2 per cent of the market, data with the Indian government's vehicle registration portal shows. Beefing up The company has not appointed a new country head following the departure of Prashanth Menon, but is beefing up hiring across charging, retail and policy teams, according to sources familiar with the matter. The Model Y imports represent an initial foray into the market and Tesla plans to expand its presence, including offering more models. It's leasing warehouse space in Karnataka, in India's south, and is adding more in Gurugram, outside New Delhi, the sources said. Tesla executives from other countries are making weekly visits, the sources said, to the Mumbai and New Delhi showrooms, which are in high-profile, luxury business precincts in an effort to attract affluent shoppers. BLOOMBERG
Time of India
21-06-2025
- Automotive
- Time of India
Tesla's outlets to open in July with China-made electric vehicles
Tesla's outlets to open in July with China-made EVs Tesla is set to open its showrooms in July, people familiar with discussions said, kicking off operations as the Elon Musk-led firm hunts for growth, amid falling sales in Europe and China. Tesla's first set of cars have arrived - Model Y rear-wheel drive SUVs shipped from the China factory, according to sources and documents seen by Bloomberg News. The Model Y is the world's largest-selling electric car. Tesla is set to open its first showroom in Mumbai in mid-July, followed by one in New Delhi. It has also imported parts from the US, China and Netherlands. Tesla spokespersons did not immediately respond to an email. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
