BRUSSELS: Car sales across the European Union, Britain and the European Free Trade Association rose 4.7% in August to 800,000 units, according to data released Thursday by the European Automobile Manufacturers’ Association (ACEA). Volkswagen and Renault posted year-on-year gains of 4.8% and 7.8%, respectively, while Stellantis saw a 2.2% increase — its first growth since…
Tag: Tesla
Wall Street surges as Powell signals potential rate cut
Dow Jones soars 918 points to record high as investors cheer Powell’s dovish pivot NEW YORK: The Dow Jones Industrial Average surged to a record high Friday after Federal Reserve Chair Jerome Powell hinted the central bank may begin easing monetary policy as early as next month. The Dow jumped 918 points, or 2%, to…
Wall Street stocks rise; S&P 500 and Nasdaq hit records as investors parse earnings
Dow Jones slips as UnitedHealth drags; Nasdaq, S&P 500 notch record highs amid tech rebound U.S. Stocks climbed in afternoon trading Thursday, with both the Nasdaq composite and S&P 500 hitting fresh record highs as investors digested corporate earnings and global monetary updates. The Nasdaq composite rose 0.3% to a session high of 21,107, setting…
Wall Street edges to new record amid mixed earnings and tariff talk
Dow Jones rises 179 points to extend winning streak as healthcare stocks lift sentiment amid tech weakness U.S. stocks inched to fresh highs Tuesday, as investors digested mixed corporate earnings and updates on trade policies. While the S&P 500 marked its 11th record close of the year, declines in key tech names weighed on broader…
US stocks gain as earnings optimism outweighs trade worries; Yields dip
Dow Jones edges down 19 points amid broader market gains, earnings focus Wall Street stocks advanced Monday, lifting key indexes to record territory, while Treasury yields softened at the start of a busy week for corporate earnings. The gains came despite escalating U.S. tariff negotiations with trading partners ahead of an August 1 deadline. All…
Stocks mixed as investors weigh Trump’s tariff reprieve, tech shares waver
Dow Jones slips 0.4% as trade uncertainty lingers U.S. stocks closed narrowly mixed Tuesday as investors digested President Donald Trump’s decision to delay the return of sweeping tariffs while bracing for renewed trade tensions in August. The S&P 500 (GSPC) edged down less than 0.1%, while the Dow Jones Industrial Average (DJI) fell 0.4%. The Nasdaq Composite (IXIC) inched up less…
Tesla sales rebound in Australia amid global challenges
Tesla reported a sales rebound in Australia in May, with deliveries reaching their highest level in nearly 12 months. The automaker sold 3,897 vehicles, driven by record sales of its updated Model Y SUV, which surged 122.5% year over year. However, Model 3 sales dropped significantly. Despite the May rebound, Tesla’s year-to-date sales in Australia…
Tesla’s Australian sales surge as Model Y demand soars
Tesla saw a rebound in Australian sales in May, hitting their highest level in nearly a year despite declines in the U.S. and Europe. The EV maker reported 3,897 deliveries, largely driven by strong demand for its revamped Model Y compact SUV, which surged 122.5% year over year. In contrast, sales of the Model 3…
Tesla Roundup: Crypto Endorsements, Political Backlash, and Charging Innovations
Elon Musk’s Crypto Endorsement and Political Moves Elon Musk, the Tesla billionaire, has recently endorsed bitcoin and backed Howard Lutnick for Trump’s Treasury secretary. This move comes amid Musk’s warnings about U.S. government spending and potential financial emergencies. His endorsement of Donald Trump has sparked anger among some Tesla owners, leading them to buy anti-Musk…
Tesla eyes India for $3 billion EV factory: A strategic move in global manufacturing
Tesla will explore locations in India this month to set up an electric vehicle factory, according to a Financial Times report. Tesla’s exploration of potential locations in India for a new electric vehicle (EV) factory represents a significant development in the country’s automotive industry. The proposed investment of up to $3 billion underscores the magnitude…
Tesla CEO Elon Musk loses $55 billion pay package after court ruling
Tesla shareholders have won a landmark legal victory against the company’s CEO Elon Musk and its board of directors, who had granted Musk an unprecedented $55 billion pay package in 2018. The Delaware Court of Chancery has ruled that the pay package was invalid and must be cancelled, saving Tesla stockholders from massive dilution. The…
Tesla Plans to Launch a New Mass Market EV in 2025
Tesla, the electric vehicle (EV) pioneer, is gearing up to introduce a new mass market EV codenamed “Redwood” in mid-2025, Reuters reported. The new model is expected to be a compact crossover, one of the most popular segments in the global car market. Tesla’s CEO Elon Musk has been teasing fans and investors with the…