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From Robotaxis to a high-tech cargo hub: This week's business headlines from the Middle East

From Robotaxis to a high-tech cargo hub: This week's business headlines from the Middle East

CNN23-05-2025

Jordan has unveiled a state-of-the-art air cargo hub at Queen Alia International Airport, China's WeRide has launched its first fully driverless Robotaxi trial in Abu Dhabi, and Saudi Arabia's PIF has announced a $170 billion investment push into Europe by 2030.

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Report: Most 2026 BMW Models Will Receive a Price Hike on July 1
Report: Most 2026 BMW Models Will Receive a Price Hike on July 1

Car and Driver

time3 hours ago

  • Car and Driver

Report: Most 2026 BMW Models Will Receive a Price Hike on July 1

BMW will raise prices on many of its 2026 models starting on July 1, according to a report from CarsDirect. The increase will amount to about 2 percent of the existing MSRP, with the price hike ranging from $1100 to $2500. Several models will escape the price bump, including the 2026 iX SUV and 2026 M2 coupe. The vast majority of BMW models will likely get more expensive starting next month. As reported by CarsDirect, a bulletin was sent to BMW dealerships last week stating that the MSRP of most 2026 BMW models will go up by 1.9 percent beginning on July 1, 2025. The price increases will reportedly not affect 2025 BMW inventory. BMW has so far released pricing for many, but not all, of its 2026 model year lineup, with pricing for models such as the 7-series, X1, and 2-series not yet available. The nearly 2 percent price increase also won't affect every model in BMW's lineup. The main exceptions are its 2026-model-year EVs, the i5 and the iX. (Pricing for the 2026 i4 and i7 has not been published.) The Alpina XB7, 2026 2-series Gran Coupe, and 2026 M2 are also reportedly unaffected. BMW On the top end, the price hikes amount to $2500 for models such as the X5 M, which rises from $127,200 to $129,700, according to CarsDirect. The lowest increases are for the 4-series Coupe and Z4 roadster, which each see a bump of $1100. These figures exclude the destination fee, which Car and Driver reports as part of the price, and it's unclear if the freight charge will change for any BMW models when the calendar turns to July. CarsDirect says the bulletin doesn't blame the import tariffs implemented by the U.S. government for the price hikes, instead stating that the rises are "in line with past pricing communications, and account for inflation and enhancements to standard equipment where applicable." Slight increases in the MSRP are common for new model years, but we wouldn't be surprised if the tariffs are also playing a factor. A previous report from Automotive News stated that BMW wouldn't raise prices on imported models until the end of June. We've reached out to BMW for comment regarding these reported price increases and will update the story if we hear back. Caleb Miller Associate News Editor Caleb Miller began blogging about cars at 13 years old, and he realized his dream of writing for a car magazine after graduating from Carnegie Mellon University and joining the Car and Driver team. He loves quirky and obscure autos, aiming to one day own something bizarre like a Nissan S-Cargo, and is an avid motorsports fan.

Is Tesla Stock a Buy After Soaring in May?
Is Tesla Stock a Buy After Soaring in May?

Yahoo

time3 hours ago

  • Yahoo

Is Tesla Stock a Buy After Soaring in May?

Shares soared more than 23% in May as CEO Elon Musk recommitted to focusing on Tesla. A successful launch of Tesla's Robotaxi service could transform the company's growth trajectory. After a big run-up, the stock's valuation may already reflect much of the good news. These 10 stocks could mint the next wave of millionaires › Shares of electric-car maker Tesla (NASDAQ: TSLA) soared in May, climbing more than 23%. This was far greater than the S&P 500's 5.5% gain. The sharp move higher helped Tesla recover some of its losses from earlier in the year. Shares wrapped up the month down 14% year to date -- a big improvement from declines of more than 40% earlier this year. The growth stock's surge higher came as Tesla CEO Elon Musk announced that he is stepping down from President Trump's Department of Government Efficiency (DOGE) initiative. Investors are also probably encouraged by the company's progress toward launching a self-driving ride-sharing network in Austin this summer. The autonomous ride-hailing service, which Tesla calls Robotaxi, is expected to be a game-changer for the company and the stock if it is successful. One of the biggest reasons investors have been upbeat about Tesla stock recently is Musk's decision to begin winding down his involvement at DOGE at the beginning of last month. Musk said in Tesla's first-quarter earnings call that he would be "allocating far more of my time to Tesla," starting in May. Then, last week, the CEO went even further when he officially stepped down from the agency. Musk's ambitious leadership has been pivotal to Tesla's growth over the years, and his growing number of responsibilities outside of the company was seen as a negative for the company. It's not surprising, therefore, that the stock has regained some ground as Musk followed through with his plans to give Tesla more of his attention. Musk's attention comes at a time when Tesla is trying to reinvigorate sales growth. The company's automotive revenue fell 20% year-over-year in Q1. Investors are hoping that several major initiatives, including plans for new, lower-cost models and the launch of Robotaxi, will help revitalize Tesla's growth story. It would be difficult to overstate the importance of Tesla's Robotaxi service. Given Tesla stock's price-to-earnings ratio of more than 200 as of this writing, investors are clearly expecting strong revenue and earnings growth for years to come. A successful deployment of the company's planned autonomous ride-hailing network is key to this thesis. The reason investors are so bullish on Tesla's robotaxi service is that the company has emphasized that most of the vehicles it has delivered to customers already will be capable of being deployed into the fleet. This means that the company's service can potentially reach a significant scale quite quickly, as customers who opt into the service use their existing vehicles to share in the revenue generated from the service. Therefore, the main limiting factor once Tesla proves that the service is safe will be getting the Robotaxi network approved for operation in various jurisdictions. Musk said in a post on X in May that the company had already been testing self-driving Model Y vehicles without anyone in the driver's seat. So far, the tests have been incident-free, Musk said. This puts the service's rollout a "month ahead of schedule," he noted. Importantly, Tesla is hoping that the its planned launch of its Robotaxi service in Austin, along with its new models later this year, will fuel demand for its vehicles and return the company to strong growth. Indeed, Tesla chief financial officer Vaibhav Taneja said in the company's first-quarter earnings call in April that these two catalysts should solicit "a new era of demand" for the company. With Tesla seeming to approach a pivotal moment in which sales growth could spike, is the stock a buy today? While Wall Street is right to be more optimistic about the stock given recent news about Musk's increased involvement and the company's progress toward officially launching its autonomous ride-hailing service, the stock's recent move higher arguably already priced this news in. With this in mind, shares look more like a hold than a buy today. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $366,219!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $38,589!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $656,825!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of June 2, 2025 Daniel Sparks and/or his clients have positions in Tesla. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. Is Tesla Stock a Buy After Soaring in May? was originally published by The Motley Fool

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