Latest news with #vehicleDelivery
Yahoo
02-07-2025
- Automotive
- Yahoo
Tesla's delivery numbers are as bad as Wall Street expected — and the stock is up
Tesla released its second-quarter vehicle delivery numbers on Wednesday. The company delivered 384,000 EVs, just below analysts' estimates. The miss comes as the automaker faces a global sales slump and backlash over Elon Musk's political involvement. Tesla's delivery numbers are in — and they're as bad as Wall Street expected. The electric automaker delivered 384,000 EVs in the second quarter, narrowly missing analysts' grim expectations. Wall Street had prepared for disaster, with analysts on average expecting 389,400 vehicles delivered in the quarter, according to data compiled by Bloomberg. The actual number represents a year-over-year decrease of 13.5% from the roughly 444,000 vehicles it delivered in the second quarter of 2024. This is the biggest quarterly decline in pure numbers in Tesla's history, representing a drop of 60,000 deliveries compared to Q2 2024. The latest report follows a bruising first quarter for Tesla. The automaker delivered nearly 336,700 EVs in the first quarter of 2025, marking a 13% decrease from the same period in 2024 and its lowest quarter since 2022. Tesla's stock was around 3% higher soon after the market opened Wednesday following the announcement. The challenging quarter came after Tesla experienced its first year-over-year delivery decline in 2024 as the company grappled with an industry-wide EV slowdown, increasing competition, and backlash from some against Elon Musk's political actions. In the company's first quarter earnings call, CFO Vaibhav Taneja attributed lower delivery numbers to assembly line changeover for the refreshed Model Y and anti-Tesla hostility that had an impact in some markets. The refreshed Model Y — Tesla's best-selling vehicle — has since launched, fueling an increase in new vehicle sales in April for the automaker as other manufacturers saw a monthly decrease, according to Cox Automotive data. However, it's not the more affordable model that the company previously said was on track to begin production by the end of June. Although Musk stepped down from his political stint at the White House, the full extent of any brand damage to Tesla is not clear. The company's stock got a boost after Musk stepped away from his work with DOGE, though the Tesla CEO later ignited a highly public feud with Trump. Tesla's stock has seen volatile swings in recent weeks as the two trade insults. Tesla's delivery report arrives as the automaker has faced shrinking sales in multiple markets in recent months. Data from Shanghai-based consultancy ThinkerCar indicated that Tesla's EV sales in China decreased 18% year-over-year between January and May as its rival BYD surged. The company did get some good news in its second-largest market on Wednesday. According to data from China's Passenger Car Association, the number of cars shipped from Tesla's Shanghai factory rose slightly in June compared to last year, halting an eight-month run of year-over-year sales declines. Tesla's EU market share dropped year over year from 1.6% to 0.9% in May, according to data from the European Automobile Manufacturers' Association. The automaker saw a 45.2% drop in EV registrations in the first five months of the year in Europe. When previously asked about declining Tesla sales in Europe, Musk has said that Europe is not a key market for the EV maker and that demand remains strong in other regions. "Europe is our weakest market," Musk said at the Qatar Economic Forum in May. May data from Cox Automotive suggests that the US EV industry is also facing challenges. New EV sales are down 10.7% year over year despite a 4.2% uptick from the month prior, according to the data. Despite the industrywide headwinds, the report estimated that Tesla remained the market leader in May. Musk has said that Tesla's bet on solving full vehicle autonomy is key to the company's future growth. The company launched a limited rollout of its robotaxi service in Austin in June, with plans to expand the service in the coming months. Read the original article on Business Insider Sign in to access your portfolio
CBS News
25-06-2025
- General
- CBS News
Cargo ship carrying 3,000 new vehicles sinks off Alaska weeks after catching fire
A cargo ship that had been delivering new vehicles to Mexico sank in the North Pacific Ocean, weeks after crew members abandoned ship when they couldn't extinguish an onboard fire that left the carrier dead in the water. The Morning Midas sank Monday in international water off Alaska's Aleutian Islands chain, the ship's management company, London-based Zodiac Maritime, said in a statement. "There is no visible pollution," said Petty Officer Cameron Snell, an Alaska-based U.S. Coast Guard spokesperson. "Right now we also have vessels on scene to respond to any pollution." The Coast Guard said that the vessel reportedly had 350 metric tons of marine gas oil and 1,530 metric tons of very low sulfur fuel oil onboard. In this photo provided by the U.S. Coast Guard, smoke rises from cargo vessel Morning Midas approximately 300 miles south of Adak, Alaska, June 3, 2025, as the crew of a cargo ship carrying about 3,000 vehicles to Mexico, abandoned ship after they could not control a fire. (U.S. Coast Guard/Courtesy of Air Station Kodiak via AP) / AP Fire damage compounded by bad weather and water seepage caused the carrier to sink in waters about 16,400 feet deep and about 415 miles from land, the statement said. The ship was loaded with about 3,000 new vehicles intended for a major Pacific port in Mexico. It was not immediately clear if any of the cars were removed before it sank, and Zodiac Maritime did not immediately respond to messages Tuesday. A salvage crew arrived days after the fire disabled the vehicle. Two salvage tugs containing pollution control equipment will remain on scene to monitor for any signs of pollution or debris, the company said. The crew members of those two ships were not injured when the Morning Midas sank. "The safety of the responders remains our top priority," Capt. Christopher Culpepper, the commander of Coast Guard Sector Western Alaska and U.S. Arctic, said in a statement. "We're working closely with Zodiac Maritime in an advisory capacity to ensure a swift and effective response to any potential signs of pollution." Zodiac Maritime said it is also sending another specialized pollution response vessel to the location as an added precaution. The Coast Guard said it received a distress alert June 3 about a fire aboard the Morning Midas, which then was roughly 300 miles southwest of Adak Island. There were 22 crew members onboard the Morning Midas. All evacuated to a lifeboat and were rescued by a nearby merchant marine vessel. There were no injuries. Among the cars were about 70 fully electric and about 680 hybrid vehicles. A large plume of smoke was initially seen at the ship's stern coming from the deck loaded with electric vehicles, the Coast Guard and Zodiac Maritime said at the time. Adak is about 1,200 miles west of Anchorage, Alaska's largest city. The 600-foot Morning Midas was built in 2006 and sails under a Liberian flag. The car and truck carrier left Yantai, China, on May 26 en route to Mexico, according to the industry site A Dutch safety board in a recent report called for improving emergency response on North Sea shipping routes after a deadly 2023 fire aboard a freighter that was carrying 3,000 automobiles, including nearly 500 electric vehicles, from Germany to Singapore. One person was killed and others injured in the fire, which burned out of control for a week. That ship was eventually towed to a Netherlands port for salvage.
The Independent
24-06-2025
- General
- The Independent
Cargo ship carrying new vehicles to Mexico sinks in the North Pacific weeks after catching fire
A cargo ship that had been delivering new vehicles to Mexico sank in the North Pacific Ocean, weeks after crew members abandoned ship when they couldn't extinguish an onboard fire that left the carrier dead in the water. The Morning Midas sank Monday in international water off Alaska's Aleutian Islands chain, the ship's management company, London-based Zodiac Maritime, said in a statement. 'There is no visible pollution,' said Petty Officer Cameron Snell, an Alaska-based U.S. Coast Guard spokesperson. "Right now we also have vessels on scene to respond to any pollution.' Fire damage compounded by bad weather and water seepage caused the carrier to sink in waters about 16,404 feet (5,000 meters) deep and about 415 miles (770 kilometers) from land, the statement said. The ship was loaded with about 3,000 new vehicles intended for a major Pacific port in Mexico. It was not immediately clear if any of the cars were removed before it sank, and Zodiac Maritime did not immediately respond to messages Tuesday. A savage crew arrived days after the fire disabled the vehicle. Two salvage tugs containing pollution control equipment will remain on scene to monitor for any signs of pollution or debris, the company said. The crew members of those two ships were not injured when the Morning Midas sank. Zodiac Maritime said it is also sending another specialized pollution response vessel to the location as an added precaution. The Coast Guard said it received a distress alert June 3 about a fire aboard the Morning Midas, which then was roughly 300 miles (490 kilometers) southwest of Adak Island. There were 22 crew members onboard the Morning Midas. All evacuated to a lifeboat and were rescued by a nearby merchant marine vessel. There were no injuries. Among the cars were about 70 fully electric and about 680 hybrid vehicles. A large plume of smoke was initially seen at the ship's stern coming from the deck loaded with electric vehicles, the Coast Guard and Zodiac Maritime said at the time. Adak is about 1,200 miles (1,930 kilometers) west of Anchorage, Alaska's largest city. The 600-foot (183-meter) Morning Midas was built in 2006 and sails under a Liberian flag. The car and truck carrier left Yantai, China, on May 26 en route to Mexico, according to the industry site A Dutch safety board in a recent report called for improving emergency response on North Sea shipping routes after a deadly 2023 fire aboard a freighter that was carrying 3,000 automobiles, including nearly 500 electric vehicles, from Germany to Singapore. One person was killed and others injured in the fire, which burned out of control for a week. That ship was eventually towed to a Netherlands port for salvage.
