
New Tesla sales in Spain drop 36% in April despite EV sales surge
Tesla's new car sales in Spain fell 36per cent in April from the same month in 2024 to 571 vehicles, registration data released by industry group ANFAC showed on Monday, while sales of electric cars from other brands soared.
Over the first four months of 2025, sales of Teslas in Spain fell 17per cent over the same period a year earlier, while sales of electrified vehicles, a category that includes both fully electric vehicles and hybrids, were up 54%.
Sales of Teslas have dropped in Europe as the manufacturer owned by billionaire Elon Musk faces increased competition from European and especially Chinese EV brands.
Musk's embrace of far-right politics in Europe has also led to protests against him and the company, as well as vandalism at its showrooms and charging stations across the U.S. and Europe.
Musk said two weeks ago he would cut back on the time he devotes to the Trump administration and spend more time running Tesla.
In Spain, sales of Chinese automakers BYD, MG and Omoda were up 644per cent, 80per cent and 346per cent so far this year, respectively, ANFAC's report showed.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
an hour ago
- Time of India
Byju's sells US subsidiaries at steep discount
BENGALURU: Byju's has sold its US-based subsidiaries, Epic and Tynker, as part of US bankruptcy proceedings, in what appears to be a fire sale. This marks the latest step in the Indian edtech company's asset liquidation following its financial collapse. Epic was acquired for $95 million by the Chinese education firm TAL Education Group, while CodeHS purchased Tynker for $2.2 million in cash, according to court filings. Both transactions were approved by US Bankruptcy Judge Brendan Shannon on May 20 and are intended to help lenders recoup losses from a $1.2 billion term loan extended to Byju's. Tynker was acquired by Byju's in 2021 for a reported $200 million, while Epic was bought the same year for about $500 million. The latest sale values underscore the sharp write-downs now facing the company's global portfolio. According to a report by EdWeek Market Brief, Tynker's latest sale followed 48 rounds of competitive bidding between CodeHS, operating through a newly formed entity called Tynker Holdings, and another party, Future Minds. CodeHS CEO Jeremy Keeshin, identified in court as the sole member of Tynker Holdings, said the acquisition would allow the company to support learners as they progress from basic coding tools to advanced computer science content. Epic's sale faced an eleventh-hour intervention from the US Department of Justice, which flagged the potential need for a CFIUS (Committee on Foreign Investment in the United States) review due to the buyer's Chinese ownership, court records show. Judge Shannon described the episode as a 'fire drill,' though the transaction ultimately received approval. Both sales are being overseen by a court-appointed trustee managing the asset disposal on behalf of creditors. Byju's, once valued at $22 billion, is now facing insolvency proceedings in India over non-payment of dues, while its international operations are being dismantled through US bankruptcy court. TOI previously reported that the asset sales form part of a larger restructuring effort as Byju's attempts to navigate legal, regulatory, and financial pressures following its aggressive global acquisition spree. Other subsidiaries, such as Aakash, remain under scrutiny amid separate legal proceedings. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now


Indian Express
an hour ago
- Indian Express
Lutnick says US-China talks going well, could run into Wednesday
US Commerce Secretary Howard Lutnick said trade talks with Chinese officials were going well and he hoped they would end on Tuesday night, but said they could run into Wednesday. 'I think the talks are going really, really well. We're very much spending time and effort and energy – everybody's got their head down working closely,' Lutnick told reporters at Lancaster House in London, where teams from both countries have met for two days. 'I hope they end this evening, but maybe we'll be here tomorrow, but I hope they end this evening,' he added.


Time of India
an hour ago
- Time of India
Govt may help MSMEs register products abroad: Piyush Goyal
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Bern: India plans to come out with a dedicated scheme to assist micro, small and medium enterprises in registering their products overseas, commerce and industry minister Piyush Goyal government is firming up details of the Export Promotion Mission (EPM) announced in its February budget, and this scheme could be a part of the package."I am thinking of coming out with a scheme that any MSME that needs to spend any amount of money to register their products anywhere in the world, particularly for new products, new markets, and new exporters, the government will fund the whole cost," Goyal told a visiting Indian industry delegation late Monday is on a four-day visit to Switzerland and Sweden to boost trade and investments between the two asked the Indian industry to focus on exporting value-added goods and run campaigns for brand building and marketing."We do a lot of rice exports. Can we look at how to add value to those exports. We need to brand the products, can we run campaigns? Can we run joint campaigns to market Indian rice or grown-in-India rice?" the minister prompted the said the government had inked several free trade agreements and is negotiating deals with the EU, New Zealand and Oman. "I am sure the (deal with) EU will happen very soon. So, in a short span of a year and a half, we will get an FTA with all the major European countries with whom we wish to do business," Goyal said, adding Brazil is keen to initiate talks on a trade deal. "We already have negotiations with Chile and Peru," he about measures to arrest the declining trend in FDI, he said India is witnessing renewed overseas inflows and the government is open to suggestions and will adopt new measures to promote he said there is no declining trend even though periodic fluctuations may occur due to changes in global interest received FDI of $748.78 billion between 2014-2025Goyal has proposed a dedicated enclave for Swiss businesses in India with a trade deal with the European Free Trade Association (EFTA), which includes Switzerland, Norway, Iceland, and Liechtenstein, coming into effect in three an event organised to mark the Swiss industry day here, the minister said both Switzerland and India had a "natural partnership." Citing statistics to highlight the India growth story, he said the country was focussing on inclusive growth and had taken large leaps in creating infrastructure."We could even create a Swiss enclave, an area dedicated to Swiss businesses," Goyal said, adding that the enclave could have restaurants, hotels, schools and colleges for Swiss citizens who would come to work in the units of those said while India provides a huge market and skilled professionals, Switzerland has advanced manufacturing the pact, India has received an investment commitment of $ 100 billion in 15 years from the grouping. The minister suggested a reciprocal mechanism for recognition of certification about the proposed trade deal between New Delhi and the US, Goyal said both were in talks for a "fair and equitable" trade agreement that will provide them with an opportunity to expand and strengthen trade ties."We believe it's an opportunity for us to expand our bilateral trade and strengthen our partnership," he told reporters minister said that both America and India are close friends, allies and strategic partners."We are negotiating to make a nice, fair, equitable and balanced agreement to promote business," Goyal said.A US team of trade officials is in New Delhi till June 10 for talks on the trade deal, US President Donald Trump and Prime Minister Narendra Modi had announced in minister said Swiss pharmaceutical companies have not shown even a single instance that Indian companies have illegally copied any of their trademarks or patent or copyrighted technology."I was shown none, not one. This is a myth which has been propagated for years," Goyal told reporters, responding to queries on complaints of Swiss pharma companies on IPR issue."India is very respectful of intellectual property rights (IPRs). India is very conscious of its responsibilities, and India is a country known to never, ever steal anybody else's technology," he underlined that India does not permit ever-greening of patents.(The correspondent is in Switzerland at the invitation of Commerce and Industry Ministry)