Tesla CEO Elon Musk attempted to use the EV maker’s earnings calls to quell concerns about his work with the Trump administration. He plans to leave his day-to-day role at the Department of Government Efficiency in a month to focus on Tesla. Get details about Musk’s plans and Tesla at Headlight.News.
EV maker Tesla’s first-quarter earnings didn’t meet Wall Street expectations. Analysts predicted the company’s earnings would be flat on a year-over-year basis, but the company’s revenues were down 9%, and its adjusted earnings slid 17%. Find out more at Headlight.News.
Motorists around the world are becoming increasingly comfortable with purchasing and owning EVs, according to a new study, though Americans lag well behind their counterparts in Europe and, in particular, China. Credit the longer range, faster charging and lower costs of newer EV models, consumers told McKinsey & Co. Headlight.News has more.
Tesla faces a new lawsuit accusing the company of intentionally inflating the mileage shown on its vehicles’ odometers in order to avoid warranty claims. The new class action suit filed in California could expose the automaker to potentially massive fines, penalties and other costs under both state and federal law if it were found to be rigging odometer readings. Separately, CEO Elon Musk signaled that Tesla will have to replace as many as 4 million onboard computers not capable of operating the latest version of the company’s Full Self-Driving system.
Tesla sales have fallen all over the world, much of that due to backlash against CEO Elon Musk’s political ties to the Trump administration. Now, the automaker’s share of the bellwether California EV market has dipped below 50%, as competitors draw in EV buyers with a flood of new products.
As buyers snap up unsold vehicles, Ford cautions dealers prices will be going up as the result of the new Trump auto tariffs. And other manufacturers say they likely will follow. More from Headlight.News.
The outlook for the automotive industry is starting to look increasingly dim, automakers frantically searching for a way to respond to the Trump administration’s broad tariff on imported autos and auto parts. The question is whether to raise prices and risk a sharp slump in sales or absorb tariffs and crash earnings.
Amazon founder Jeff Bezos is getting ready to punch his way into the auto industry, with what several sources tell Headlight.News will be a new all-electric pickup set to start as low as $25,000. Expected to be called Slate Auto, the start-up will use Amazon’s online power to market the new vehicle. More from Headlight.News.
President Trump’s tariff battle is putting both General Motors and Ford Motor Co. luxury plans under a cloud. Both the U.S. and China have heated up tariffs, even while the president paused other portions of his trade plan.
President Donald Trump paused for 90 days most of the tariffs that went into effect earlier this month targeting virtually all U.S. trade partners. But he left in place sectoral tariffs, notably including those imparting import autos and auto parts, as well as foreign-made steel and aluminum. He also increased tariffs on countries, such as China, that responded to his original order with increased trade sanctions of their own. Headlight.News has more.
After days of watching the stock market crash again and again, members of his own party begin to revolt, and an outcry from businesses of all types, President Donald Trump announced a 90-day pause on the global tariffs he revealed last week. Find out why at Headlight.News.
Tariffs continue to dominate the auto industry, manufacturers around the world struggling to figure out formulas that will minimize the impact on consumers – and U.S. sales – while avoiding budget-busting new costs that could send their balance sheets deep into the red. Here are some of the latest developments.