Driven largely by the phase-out of federal tax credits, U.S. sales of battery-electric vehicles slid last year, with registrations down for the first time in a decade. Most experts anticipate a rebound, though how much and how fast that recovery will happen is uncertain. Headlight.News has more.
The battle between Elon Musk and Pres. Donald Trump has rapidly escalated as the Tesla CEO lays out plans to launch a new political party. But the Texas-based automaker is already suffering collateral damage. Days after Tesla announced another sharp decline in sales for the second quarter, the automaker’s stock price is taking a sharp hit as investors race for the exit. More from Headlight.News.
Yet again, Tesla sales stumbled by double-digits in May, marking the fifth monthly decline in a row. Meanwhile, the man appointed to run operations and sales in Europe and the U.S. has left the automaker, as has its head of human resources. Tesla has seen a flood of senior execs leave in recent months, including the head of its Optimus robot program. But it did manage to snag the former head of autonomy from GM’s now shuttered Cruise subsidiary.
Tesla recalls 380,000 vehicles due to power steering issues that could cause a crash. It’s just the latest in a series of setbacks that sees the automaker ramp up incentives – including givebacks of up to $6,000 on Cybertruck – in a bid to reverse faltering momentum.
While EV sales growth has slowed down this past year, demand was still up by about 10% in 2024. And the numbers would have been even bigger were it not for Tesla. While still the market leader, it suffered a first-ever annual sales decline last year. A variety of factors were at play, including CEO Elon Musk’s increasingly polarizing politics. More from Headlight.News.
It’s become conventional wisdom that EV sales are slowing. With one high-profile exception, the latest numbers would tell you quite the opposite is true. As data roll in for June and the second quarter we’re seeing a number of manufacturers reporting solid increases...