Latest news with #salesDecline
Yahoo
04-07-2025
- Automotive
- Yahoo
Taiwan vehicle market down 17% in June
Taiwan's new vehicle market declined by 17.5% to 34,320 units in June 2025 from 41,587 units in the same month last year, according to registration data compiled by Taiwan's Ministry of Transportation. Vehicle demand in the country has weakened significantly in recent months, following two years of strong sales growth, despite a pick-up in economic activity in the country. The country's economy exceeded expectations in the first quarter of the year, with GDP expanding by 5.5% year-on-year, driven by a rebound in exports. Domestic consumption remains sluggish, however, reflecting growing uncertainty regarding global trade following the recent US import tariff hikes. In the first half of the year, the vehicle market declined by over 14% to 198,967 units from 232,511 units in the same period last year, with sales of domestically-produced vehicles falling by 12% to 101,817 units, while import sales dropped by almost 17% to 97,170 units. Sales of battery electric vehicles (BEVs) amounted to 12,748 units in this period, led by Tesla with 4,689 units, followed by local automaker Luxgen with 1,930 units, BMW 1,764 units, and Mercedes with 1,195 units. The performances of the individual brands varied significantly year-to-date, with market leader Toyota enjoying a 3% increase to 61,145 units; followed by its Lexus division with a 2% rise to 15,422 units; CMC 13,144 (+27%); Mercedes-Benz 12,982 (7%); Honda 9,591 (-29%); Hyundai 9,328 (-25%); BMW 8,949 (-10%); Mitsubishi 6,581 (-17%); and Ford 6,283 (-13%). Last year, Taiwan reintroduced minimum local content requirements for locally-assembled vehicles – regulations that had been discontinued more than two decades ago. Under the new rules, locally-assembled vehicles are required to have a minimum local content of 15% in their first year of production, rising to 25% in the second year and 35% in the third year. The government claims the new regulation is mainly aimed at ensuring minimum safety standards while also protecting the country's component supply chain. "Taiwan vehicle market down 17% in June" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
Bloomberg
03-07-2025
- Automotive
- Bloomberg
Russian Car Market Contracts as Interest Rates and Fees Take Toll
Russia's car market contracted in the first half of 2025 as high borrowing costs and fees put off many potential buyers, setting the industry on course to reverse two years of rebounding growth. From January through June, sales of passenger and light commercial vehicles fell to 546,430, down 27% from the same period last year, according to the Association of European Businesses. The group also revised down their forecast for 2025 about nine percentage points to now project a 24% decrease from last year.
The Independent
02-07-2025
- Business
- The Independent
Maker of top-selling Modelo and Corona beers says sales are struggling over ICE deportation fears
Constellation Brands, the maker of top-selling Modelo and Corona beers, says sales are struggling because of Immigration and Customs Enforcement deportation fears. The company's beer sales dropped two percent in the second fiscal quarter of 2025, CNBC reported. Hispanics account for about half of its beer sales. Bill Newlands, CEO of Constellation Brands, said during an earnings call Wednesday ICE raids were making it hard to predict consumer spending, per CNBC. Newlands said its Hispanic customers are 'very interested in beer,' but 'occasions on which beer is consumed have decreased,' Yahoo Finance reported. The CEO said Hispanic consumers are 'not going out to eat as much as they had, they're having less social occasions at home." Constellation Brands' worse-than-expected earnings and revenue were also caused by President Donald Trump 's tariffs on aluminum, according to the company. Trump's mass deportation plan is in full swing. Last month, the White House announced ICE had made more than 100,000 arrests since Trump took office for the second time. . The New York Times wrote in late June of the fear in Los Angeles, which was the site of mass protests over ICE immigration raids that month: 'Increased immigration raids and patrols by masked officers have stifled one of the largest and most established Latino communities in America, causing what residents and officials describe as a Covid-style shutdown of public events, street life and commerce.' Constellation Brands isn't the only company to see sales slip in recent months, partly because of Hispanic consumers staying home in fear of ICE. Coca-Cola's sales volume in North America fell three percent in the first fiscal quarter. The beverage company's CEO James Quincey said on an earnings call on April 30: 'In addition to challenges with severe weather and calendar shift, volume was impacted by weakening consumer sentiment as the quarter progressed, particularly among Hispanic consumers,' Yahoo Finance previously reported.
Yahoo
02-07-2025
- Automotive
- Yahoo
Global Tesla sales fall sharply in second quarter, continuing months of decline
Global deliveries of Tesla vehicles dropped sharply in the second quarter, prolonging the company's run of declining sales. Vehicle deliveries were down 13.5% in the last three months compared to last year — the steepest year-over-year drop in Tesla's history. Still, the numbers beat the pessimistic investor forecasts, and Tesla's shares opened 4% higher on Wednesday, recovering from an earlier dip amid CEO and former White House adviser Elon Musk's renewed feud with US President Donald Trump. Analysts attribute Tesla's decline partly to competition, particularly from China, and partly backlash toward Musk's political activities. His latest public spat with Trump — over the president's signature spending bill — could see Tesla incur more damage, The Guardian wrote: If the bill passes in its current form, it would eliminate tax credits for EV purchases. — Natasha Bracken 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
The Independent
12-06-2025
- Business
- The Independent
Coca-Cola and other companies losing sales as Hispanic residents stay home and skip shopping over arrest fears
Coca-Cola and other major brands have seen sales slip in recent months, partly due to Hispanic customers pulling back from stores and staying home amid 'a fear of Immigration and Customs Enforcement raids.' The soft drink giant expressed concern after its sales volume in North America fell 3 percent in the first quarter of 2025. While there is no data that unequivocally links Hispanics' immigration fears to pulling back from spending, executives at big brands acknowledged those concerns are likely having some impact on sales, The Wall Street Journal reports. The company emphasized the importance of the 64 million U.S. Hispanic consumers who hold $2.1 trillion in spending power. 'In addition to challenges with severe weather and calendar shift, volume was impacted by weakening consumer sentiment as the quarter progressed, particularly among Hispanic consumers,' Coca-Cola's CEO James Quincey said during an earnings call on April 30. 'Some of the geopolitical tension and Hispanic pullback also affected the Mexican [market], particularly the border region, which is very connected to the U.S.,' Quincey added on the call. The sentiment was backed by Jim Sabia, the president of Constellation Brands, which owns Modelo and Corona. Sales of Modelo, which overtook Bud Light as America's best-selling beer in 2023, have also dipped slightly lately. 'There is a fear of the ICE raids,' Sabia said at the Goldman Sachs Global Staples Forum last month. 'There's a fear out there, so these consumers are changing their behaviour,' Sabia said of Hispanic consumers. 'That's in the off-premise trade. In the on-premise trade, they're cutting back on social events. They're cutting back on restaurants.' President Donald Trump's trade tariffs are also likely impacting Hispanic consumers' shopping habits. In one of the company's monthly surveys earlier this year, Hispanic consumers said they were worried about the Trump administration's immigration crackdown and inflation from the tariff war. The survey found 75 percent of Hispanic consumers were scaling back on eating out and going to social gatherings where beer was served, The Journal noted. Likewise, the retailer JD Sports said it was noticing a 'huge decline in traffic' in its Shoe Palace stores, which have a large Latino customer base. CEO Regis Schultz said he could 'definitely' see the impact of the immigration policy on footfall. Coca-Cola's CEO said the company was also suffering following false rumors the company laid off Latino staff and reported them to ICE agents. The fake claims prompted Hispanic customers to boycott the drinks. 'It wasn't the first piece of misinformation, disinformation, or anything else nefarious about the Coca-Cola brand, and I'm sure it won't be the last,' Quincey said. 'But we are very focused on recovering from it.'
