With sales falling sharply, the first quarter of 2024 was an “unmitigated disaster,” according to one of Tesla’s big boosters. Now, one of the automaker’s big critics is warning the company could “go bust.”
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Hybrids, EVs Helped Prop Up March Sales – Except for Tesla
It’s become something of conventional wisdom that the EV market is slowing down. And there’s no question that, on a percentage basis, the growth rate for battery-electric vehicles has slowed over the last 12 months. But the market does continue to grow, Kia’s EV sales jumping 151% in March. Ironically, it was the 800-pound gorilla of the battery-electric market, Tesla, where sales fell well short of expectations.
UAW Gaining Traction as Mercedes’ Alabama Workers Set to File for Union Vote
In what could be a critical development for the United Auto Workers Union, employees at the Mercedes-Benz assembly plant in Alabama are expected to file the paperwork needed to set up a vote aimed at organizing the factory. Workers at the Volkswagen plant in Tennessee made a similar move last month.
Tesla Q1 Deliveries Decline as Competitors See Increases
Tesla’s first quarter deliveries declined for the first time in nearly four years, falling short of Wall Street estimates. The declines came despite EV sales rising for competing automakers during the same period. Find out more at Headlight.News.
March Auto Sales Look Strong – But Affordability Remains an Issue
After an uncertain start, U.S. auto sales showed solid momentum in March, with big gains by Japan’s big three and record numbers from Hyundai – which was charged up by EV demand. But Tesla posted a rare sales slid and GM lost ground during the first quarter. Meanwhile, high transaction prices continue to keep many buyers out of the market.
Tesla Raises Prices as CEO Musk’s Reputation Falls
Tesla made good on previously announced plans to raise prices on its bestselling Model Y by $1,000 in the U.S. The move was revealed a few weeks ago, and now it’s been put in place. The price increase comes as new study suggests CEO Elon Musk is putting off potential buyers. Get details at Headlight.News.
Shell Shutting 1,000 Gas Stations in Shift to EV Charging
The Dutch-based energy giant Shell plans to eliminate 1,000 gas stations by the end of 2025 as it begins to put more emphasis on its EV charging operations, the company said in a new report. It already operates 3,700 charging stations in the U.S. and will not only add more facilities but expand the size of existing ones.
Better Move Fast if You Want a Tesla Model Y — Prices Are Going Up
After spending much of last year cutting prices on its EV lineup, Tesla has reversed course, announcing a $1,000 increase in the U.S. sticker price for its best-selling Model Y. In Europe, meanwhile, buyers will pay as much as 2,000 euros, or $2,177 more for the electric SUV. While that might not be good news for buyers, Tesla stockholders hailed the price hike, giving shares traded under the Nasdaq ticker TSLA their first big gain in a month. Find out more at Headlight.News.
Hertz CEO Steps Down After Failed Bet on Tesla EVs
The CEO of Hertz Global Holdings, has handed in his key to the executive washroom. He’s stepping down after a disastrous move that saw the daily rental company add 100,000 Teslas to its fleet. The EVs didn’t prove as popular as expected with customers – but they did wind up experience far more repairs than anticipated. Adding insult to injury, Tesla’s big price cuts meant massive losses for Hertz when it tried to sell the vehicles off.
Detroit Automakers Watch as Their Sales Collapse in China – and the U.S. Could be Next
When the new Lincoln Nautilus goes on sale this spring it will mark a significant development for parent Ford Motor Co., the first time it imports a vehicle to the U.S. from China. The move will help keep the U.S. automaker’s factories there running as demand for its products has tumbled sharply in the Asian nation. But Ford is not alone. Detroit automakers – along with other foreign brands – have seen their Chinese sales – and earnings – plunge as consumers by the millions shift to domestic competitors. Could the Chinese now turn the tables on the U.S. at home? Find out at Headlight.News.
Whether Stuck in Sand or Snow or Driving Into Walls, Owners are Wrecking Cybertruck’s Image
When Elon Musk handed over the keys to the first Cybertruck last November he boasted that the electric pickup featured “the finest in apocalypse technology.” The Tesla CEO even played a video showing bullets bouncing off the truck’s stainless steel skin. But a series of recent social media posts raise serious questions about the truck’s actual capabilities — or at least the skills of its early owners who’ve gotten stuck in sand and snow and even driven into a wall at the Beverly Hills Hotel, knocking off a wheel in the process. Read all about it at Headlight.News.
Tesla Stock Again in Freefall; How Low Will it Go?
Betting on the stock market isn’t for the fainthearted. But it takes an iron constitution to buy in on Tesla. True, those who’ve hung with the automaker since its early days have been well rewarded. But recent years have taken investors on a rollercoaster ride. And nowhere has it been more apparent than over the past few months. After nearing a 52-week late last year, Tesla shares have been in decline. And that’s now showing signs of turning into a full-on rout, even some long-term Tesla bulls getting worried.