STORY: Tesla missed Wall Street expectations for first-quarter deliveries. The auto giant saw demand hit by the expiry of U.S. tax credits on the purchase of electric vehicles. It delivered just over 358,000 vehicles in the January-March period - below market expectations of close to 369,000. That was down 14.4% from the fourth quarter, but it was up 6.3% from a year earlier. Thursday's update mar...
STORY: Tesla missed Wall Street expectations for first-quarter deliveries. The auto giant saw demand hit by the expiry of U.S. tax credits on the purchase of electric vehicles. It delivered just over 358,000 vehicles in the January-March period - below market expectations of close to 369,000. That was down 14.4% from the fourth quarter, but it was up 6.3% from a year earlier. Thursday's update marked the first time Tesla had posted two consecutive years of falling deliveries. Analysts have cut their forecasts for deliveries this year, and some warned of a third straight annual drop. Tesla lost its title as the world's largest EV maker last year to China's BYD. There were some green shoots in Europe, a region that weighed on Tesla's global figures last year. The company has shown signs of recovery there and gained share in key markets like France in the first quarter. Tesla's China-made EV sales also rose for a second consecutive quarter. They were up just over 23% for the January to March period - well up from a near 2% rise in the fourth quarter. But the expiry of a $7,500 federal tax credit at the end of September was a blow to U.S. EV demand. Analysts expect the credit's removal to hurt EV sales this year. They further said Tesla also faces growing competition in the region. Shares were down around 4% after the update.
Tesla (NASDAQ:TSLA) isn’t the only Mag Seven stock to think about buying after a brief plunge into bear market territory. With the AI trade coming back online over hopes that the war in Iran will be over in two or three weeks’ time, perhaps the discounts across the board might not be sticking around for ... Tesla Stock Hasn’t Looked This Cheap in a While
Tesla (NASDAQ:TSLA) isn’t the only Mag Seven stock to think about buying after a brief plunge into bear market territory. With the AI trade coming back online over hopes that the war in Iran will be over in two or three weeks’ time, perhaps the discounts across the board might not be sticking around for ... Tesla Stock Hasn’t Looked This Cheap in a While
Thanks for reading Hyperdrive , Bloomberg’s newsletter on the future of the auto world. Li Shufu Warns on Overcapacity The billionaire behind Chinese auto empire Geely rarely speaks to journalists, so when there’s a chance for an interview, you jump at it. That’s what I did this week in Gothenburg, where Li Shufu attended Volvo Car’s shareholder meeting in his dual role as chairman of the Sweden-b...
Thanks for reading Hyperdrive , Bloomberg’s newsletter on the future of the auto world. Li Shufu Warns on Overcapacity The billionaire behind Chinese auto empire Geely rarely speaks to journalists, so when there’s a chance for an interview, you jump at it. That’s what I did this week in Gothenburg, where Li Shufu attended Volvo Car’s shareholder meeting in his dual role as chairman of the Sweden-based automaker and owner of its Chinese parent. Li has built up an impressive roster of automakers that also includes Lotus, Polestar and Zeekr. He’s invested in Mercedes-Benz and has built partnerships with Renault and Baidu. In China, Geely is going toe to toe with BYD to claim the spot atop the country’s sales rankings. After years of growth, Li said this week in a group interview that the industry has built up too many factories, and that he intends to push more cooperation within his group to navigate muted demand. “We can see that globally, the overcapacity problem is very serious,” Li said softly in Mandarin through an interpreter, seated beside Volvo CEO Håkan Samuelsson. “So now I think the solution for Geely and Volvo is that we should utilize our common capacity.” Dressed in a navy double‑breasted suit with a pale blue tie and Geely pin to complete the look, Li described how Volvo factories in Europe could eventually build cars for Geely’s many brands, to better manage cost and trade pressures. “Geely is not a great fan of simply producing cars in China and just exporting to Europe,” he said. “Rather, we believe in localization in Europe, which is also relevant to our statements that we would utilize capacity sharing with Volvo.” Much of Li’s focus, however, remains at home. In China’s crowded car market, local companies fight to hold share in a sector where roughly 60% of sales now go to domestic brands. “There are almost 17 major players in China trying to take as much of the market as possible,” Li said. “Nevertheless, either they make no money or make very li...
KENNEDY SPACE CENTER, Fla.—The first time NASA launched humans toward the Moon, in December 1968, the United States was a deeply fractured nation. The historic flight of three people into the unknown brought a measure of solace to a country riven by assassinations, riots, political discord, and a deeply unpopular foreign war. If history does not repeat itself, it certainly rhymes. Today, four huma...
KENNEDY SPACE CENTER, Fla.—The first time NASA launched humans toward the Moon, in December 1968, the United States was a deeply fractured nation. The historic flight of three people into the unknown brought a measure of solace to a country riven by assassinations, riots, political discord, and a deeply unpopular foreign war. If history does not repeat itself, it certainly rhymes. Today, four humans are on the way to the Moon, Reid Wiseman, Victor Glover, Christina Koch, and Jeremy Hansen. They do so, once again, amid a troubled world. Read full article Comments
President Trump may face a critical decision point in mid-April on whether to pursue a “maximalist approach” and seize control of Iran’s oil, according to Firas Maksad, managing director at Eurasia Group. Maksad told CNBC that the arrival of additional military assets in the region will force the president to decide whether to “go all in or whether he wants to take an off-ramp.” The analyst charac...
President Trump may face a critical decision point in mid-April on whether to pursue a “maximalist approach” and seize control of Iran’s oil, according to Firas Maksad, managing director at Eurasia Group. Maksad told CNBC that the arrival of additional military assets in the region will force the president to decide whether to “go all in or whether he wants to take an off-ramp.” The analyst characterized the president’s recent address on the conflict as “primarily a communication exercise targeting the domestic audience.” From a policy standpoint, Maksad noted that Trump “only reaffirmed what most of us already understood”—that the war will continue for at least two to three more weeks to achieve its stated objectives. Those objectives include further degrading Iran’s ballistic missile program, destroying its navy, and eliminating what remains of the nuclear program following the earlier twelve-day war. However, Maksad pointed to an unstated goal: “what the president has referred to as taking Iran’s oil.” The timing of the decision hinges on incoming military reinforcements. “A lot of the military assets that are currently still on the way to the region—the USS Bush, some other marines, the marine expeditionary unit, the elements of the 82nd Airborne—those don’t get there until mid-April,” Maksad explained. Domestic standing and energy impacts will be key factors in the president’s calculus. Maksad suggested the administration’s mixed signals about negotiations are part of a deliberate strategy to stabilize energy markets. “There is an interest of the administration to try to manage oil prices ( CL1:COM ), ( CO1:COM ), manage the markets ( SP500 ), ( DJI ), ( COMP:IND ), keep them under control in order to prosecute this war longer and further degrade Iran’s military capabilities,” he said. For those trying to predict the president’s next move, Maksad offered pointed advice: “I’m watching the military deployments much closer than I’m actually watching and indexing a...
The TSA wait times feature is one of many new additions to the United app, including automatic rebooking assistance and real-time time weather radar maps.
The TSA wait times feature is one of many new additions to the United app, including automatic rebooking assistance and real-time time weather radar maps.