Latest news with #Models3
Yomiuri Shimbun
2 days ago
- Automotive
- Yomiuri Shimbun
Tesla Sales Plunge Again as Anti-Musk Boycott Shows Staying Power and Rivals Pounce on the Weakness
NEW YORK (AP) — Sales of Tesla electric cars fell sharply in the last three months as boycotts over Elon Musk's political views continue to keep buyers away. The 13% plunge in global sales over a year earlier suggests the damage to Tesla's brand from Musk's embrace of U.S. President Donald Trump and far-right European politicians is much deeper, widespread and lasting than some investors had expected. The figures reported by Tesla on Wednesday also signal that its quarterly earnings report due later this month could disappoint as rival electric-vehicle makers pounce on its weakness and steal market share. v Sales fell to 384,122 in April through June, down from 443,956 in the same three months last year. During the latest period, Musk formally left the Trump administration as a cost-cutting czar, and hopes rose that sales would recover. The Tesla CEO himself recently said the company was in the midst of a 'major rebound' in sales, a statement contradicted by the latest figures. Still, some parts of the report were encouraging. Sales of the Models 3 and Y totaled 373,728, above the estimate of 356,000 from Wall Street analysts. Tesla shares rose 5% on the news. 'The numbers weren't as bad as thought with all the analyst forecast cuts we saw over the past week,' said Morningstar's Seth Goldstein, though he added the report overall showed the company faces big challenges. 'The current product lineup is at market saturation and Tesla will need the new affordable vehicle to grow deliveries.' Musk has promised a cheaper EV model would be coming this year that would boost sales. It's not clear yet if Musk's latest feud with Trump will help lure back buyers who have been angry at the billionaire's political positions. After Musk once again took to social media to criticize Trump's budget bill, the president threatened Tuesday to use the power of his office to hurt his companies, including Tesla, pushing its stock down more than 5%. A June AP-NORC poll showed about half of U.S. adults have an unfavorable opinion of Tesla, including 30% of Republicans. The new figures come as Tesla is focusing less on new models and more on robots, self-driving technology and robotaxis ferrying passengers around without anyone behind the wheel. Tesla is in the midst of a test run of robotaxis in Austin, Texas, that seems to have gone smoothly for the most part. But it also has drawn the scrutiny of federal car safety regulators because of a few mishaps, including one case in which a Tesla cab was shown on a video heading down an opposing lane. The competition from rival EV makers is especially fierce in Europe where China's BYD has taken a bite out of its market share. Tesla sales fell 28% in May in 30 European countries even as the overall market for electric vehicles expanded sharply, according to the European Automobile Manufacturers' Association. Musk has acknowledged that his work as head of the Department of Government Efficiency and his embrace of European far-right candidates have hurt the company. But he said earlier this year that much of the sales plunge is due to customers holding off while they waited for an ugrade to Tesla's best selling Model Y. That new version has been out for months now. Tesla reports second quarter financial results on July 23. In the first quarter, net income fell 71%.
Nahar Net
2 days ago
- Automotive
- Nahar Net
Tesla sales fell sharply in Q2 as Musk backlash and competition chipped away at company's dominance
by Naharnet Newsdesk 11 hours Sales of Tesla electric cars fell sharply in the last three months as boycotts over Elon Musk's political views continue to keep buyers away, a significant development given expectations that anger with the company's billionaire CEO would have faded by now. The company reported a 13% plunge in sales on Wednesday in another sign that Musk's embrace of U.S. President Donald Trump and far-right politicians in Europe has had a deep and enduring hit to Tesla's brand appeal. The new figures also suggest that Tesla could disappoint when it announces second quarter earnings later this month. In the first three months of this year, net income fell 71%. Sales fell to 384,122 in April through June, down from 443,956 in the same period last year. During this period, Musk formally left the Trump administration as a cost-cutting czar and hopes rose that sales would recover. Sales of the Models 3 and Y totaled 373,728, above the estimate of 356,000 from Wall Street analysts. Tesla shares rose about 1.5% in early trading. Tesla is also facing stiff competition from other electric makers, especially in Europe where China's BYD has taken a bite out of its market share. Musk has acknowledged that his work as head of the Department of Government Efficiency and his embrace of European far-right candidates have hurt the company. But he attributed much of the sales plunge to customers holding off while they waited for new versions of Tesla's best selling Model Y, and recently predicted a major turnaround in sales. The new figures come as the company is focusing less on coming out with new models and more on robots, self-driving technology and robotaxis ferrying passengers around without anyone behind the wheel. Tesla is in the midst of a test run of robotaxis in Austin, Texas, that seems to have gone smoothly for the most part. But it also has drawn the scrutiny of federal car safety regulators because of a few mishaps, including one case in which a Tesla cab was shown on a widely shared video heading down an opposing lane.
1News
2 days ago
- Automotive
- 1News
Tesla sales plunge again amid anti-Musk boycott, rivals pounce
Sales of Tesla electric cars fell sharply in the last three months as boycotts over Elon Musk's political views continue to keep buyers away. The 13% plunge in global sales over a year earlier suggested the damage to Tesla's brand from Musk's embrace of US President Donald Trump and far-right European politicians was much deeper, widespread and lasting than some investors had expected. The figures reported by Tesla on Wednesday also signalled that its quarterly earnings report due later this month could disappoint as rival electric-vehicle makers pounced on its weakness and stole market share. Sales fell to 384,122 in April through June, down from 443,956 in the same three months last year. During the latest period, Musk formally left the Trump administration as a cost-cutting czar, and hopes rose that sales would recover. ADVERTISEMENT The Tesla CEO himself recently said the company was in the midst of a 'major rebound' in sales, a statement contradicted by the latest figures. Still, some parts of the report were encouraging. A Tesla factory in California (file image). (Source: Sales of the Models 3 and Y totalled 373,728, above the estimate of 356,000 from Wall Street analysts. Tesla shares rose 5% on the news. "The numbers weren't as bad as thought with all the analyst forecast cuts we saw over the past week," said Morningstar's Seth Goldstein, although he added the report overall showed the company faced big challenges. "The current product lineup is at market saturation, and Tesla will need the new affordable vehicle to grow deliveries." Musk has promised that a cheaper EV model will be coming this year, which would boost sales. ADVERTISEMENT It was not clear yet if Musk's latest feud with Trump wouldl help lure back buyers who have been angry at the billionaire's political positions. After Musk once again took to social media to criticise Trump's budget bill, the president threatened Tuesday to use the power of his office to hurt his companies, including Tesla, pushing its stock down more than 5%. A June AP-NORC poll showed about half of US adults had an unfavourable opinion of Tesla, including 30% of Republicans. The new figures came as Tesla was focusing less on new models and more on robots, self-driving technology and robotaxis ferrying passengers around without anyone behind the wheel. Tesla was in the midst of a test run of robotaxis in Austin, Texas, that seems to have gone smoothly for the most part. But it also has drawn the scrutiny of federal car safety regulators because of a few mishaps, including one case in which a Tesla cab was shown on a video heading down an opposing lane. The competition from rival EV makers is especially fierce in Europe, where China's BYD has taken a bite out of its market share. ADVERTISEMENT Tesla sales fell 28% in May in 30 European countries even as the overall market for electric vehicles expanded sharply, according to the European Automobile Manufacturers' Association. Musk has acknowledged that his work as head of the Department of Government Efficiency and his embrace of European far-right candidates have hurt the company. But he said earlier this year that much of the sales plunge was due to customers holding off while they waited for an upgrade to Tesla's best-selling Model Y. That new version has been out for months now. Tesla reports second-quarter financial results on July 23. In the first quarter, net income fell 71%.
Japan Today
2 days ago
- Automotive
- Japan Today
Tesla sales plunge again as anti-Musk boycott shows staying power and rivals pounce on the weakness
FILE - President Donald Trump and Tesla CEO Elon Musk speak to reporters as they sit in a red Model S Tesla vehicle on the South Lawn of the White House, March 11, 2025, in Washington. (Pool via AP, File) By BERNARD CONDON Sales of Tesla electric cars fell sharply in the last three months as boycotts over Elon Musk's political views continue to keep buyers away, a significant development given expectations that anger with the company's billionaire CEO would have faded by now. The 13% sales plunge over a year earlier suggests Musk's embrace of U.S. President Donald Trump and far-right politicians in Europe has had a deep and enduring impact on Tesla's brand appeal. The new figures reported by Tesla on Wednesday also show rival electric-vehicle makers have wasted no time pouncing on the company's weakness to steal market share, and signals Tesla's quarterly earnings report later this month could also disappoint. Sales fell to 384,122 in April through June, down from 443,956 in the same three months last year. During the latest period, Musk formally left the Trump administration as a cost-cutting czar, and hopes rose that sales would recover. Musk himself recently said that Tesla was in the midst of a 'major rebound' in sales. Still, some parts of the report were encouraging. Sales of the Models 3 and Y totaled 373,728, above the estimate of 356,000 from Wall Street analysts. Tesla shares rose 4.6% in afternoon trading. 'The numbers weren't as bad as thought with all the analyst forecast cuts we saw over the past week,' said Morningstar's Seth Goldstein, though he added the report overall showed the company faces big challenges. 'The current product lineup is at market saturation and Tesla will need the new affordable vehicle to grow deliveries.' Musk has promised a cheaper EV model would be coming this year that would boost sales. It's not clear yet if Musk's latest feud with Trump will help lure back buyers who have been angry at the billionaire's political positions. After Musk once again took to social media to criticize Trump's budget bill, the president threatened Tuesday to use the power of his office to hurt his companies, including Tesla, pushing its stock down more than 5%. The new figures come as Tesla is focusing less on new models and more on robots, self-driving technology and robotaxis ferrying passengers around without anyone behind the wheel. Tesla is in the midst of a test run of robotaxis in Austin, Texas, that seems to have gone smoothly for the most part. But it also has drawn the scrutiny of federal car safety regulators because of a few mishaps, including one case in which a Tesla cab was shown on a video heading down an opposing lane. The competition from rival EV makers is especially fierce in Europe where China's BYD has taken a bite out of its market share. Tesla sales fell 28% in May in 30 European countries even as the overall market for electric vehicles expanded sharply, according to the European Automobile Manufacturers' Association. Musk has acknowledged that his work as head of the Department of Government Efficiency and his embrace of European far-right candidates have hurt the company. But he attributed much of the sales plunge to customers holding off while they waited for new versions of Tesla's best selling Model Y. Tesla reports second quarter financial results on July 23. In the first quarter, net income fell 71%. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Vancouver Sun
2 days ago
- Automotive
- Vancouver Sun
Tesla sales plunge again as anti-Musk boycott shows staying power and rivals pounce
NEW YORK — Sales of Tesla electric cars fell sharply in the last three months as boycotts over Elon Musk's political views continue to keep buyers away, a significant development given expectations that anger with the company's billionaire CEO would have faded by now. The 13% sales plunge over a year earlier suggests Musk's embrace of U.S. President Donald Trump and far-right politicians in Europe has had a deep and enduring impact on Tesla's brand appeal. The new figures reported by Tesla on Wednesday also show rival electric-vehicle makers have wasted no time pouncing on the company's weakness to steal market share, and signals Tesla's quarterly earnings report later this month could also disappoint. Sales fell to 384,122 in April through June, down from 443,956 in the same three months last year. During the latest period, Musk formally left the Trump administration as a cost-cutting czar, and hopes rose that sales would recover. Musk himself recently said that Tesla was in the midst of a 'major rebound' in sales. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Still, some parts of the report were encouraging. Sales of the Models 3 and Y totaled 373,728, above the estimate of 356,000 from Wall Street analysts. Tesla shares rose 4.6% in afternoon trading. 'The numbers weren't as bad as thought with all the analyst forecast cuts we saw over the past week,' said Morningstar's Seth Goldstein, though he added the report overall showed the company faces big challenges. 'The current product lineup is at market saturation and Tesla will need the new affordable vehicle to grow deliveries.' Musk has promised a cheaper EV model would be coming this year that would boost sales. It's not clear yet if Musk's latest feud with Trump will help lure back buyers who have been angry at the billionaire's political positions. After Musk once again took to social media to criticize Trump's budget bill, the president threatened Tuesday to use the power of his office to hurt his companies, including Tesla, pushing its stock down more than 5%. The new figures come as Tesla is focusing less on new models and more on robots, self-driving technology and robotaxis ferrying passengers around without anyone behind the wheel. Tesla is in the midst of a test run of robotaxis in Austin, Texas, that seems to have gone smoothly for the most part. But it also has drawn the scrutiny of federal car safety regulators because of a few mishaps, including one case in which a Tesla cab was shown on a video heading down an opposing lane. The competition from rival EV makers is especially fierce in Europe where China's BYD has taken a bite out of its market share. Tesla sales fell 28% in May in 30 European countries even as the overall market for electric vehicles expanded sharply, according to the European Automobile Manufacturers' Association. Musk has acknowledged that his work as head of the Department of Government Efficiency and his embrace of European far-right candidates have hurt the company. But he attributed much of the sales plunge to customers holding off while they waited for new versions of Tesla's best selling Model Y. Tesla reports second quarter financial results on July 23. In the first quarter, net income fell 71%. Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .
