Why Tesla shares fell as Musk issues warning
The electric vehicle maker reported a 12 per cent drop in revenue and a 16 per cent fall in profit, facing increased competition and the impact of Musk's political affiliations.
Tesla's financial challenges include the loss of a $7,500 EV tax credit, reduced income from regulatory credits, and hundreds of millions in costs due to tariffs imposed by Donald Trump.
Musk indicated a strategic shift towards self-driving taxis, automated driving software, and robotics, rather than focusing primarily on car sales.
The company began rolling out its paid robo-taxi service in Austin, Texas, in June, with plans to expand to other cities soon
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Why you Might be Better Off with a Mazda CX-30 over a Mazda 3
Finally, after years of enthusiasts begging for one, we finally got a Forester hybrid. Is it worth the hype? Here's what I think after driving one. This Graham Hill-driven, ultra-rare Ferrari will be shown for viewing this month before it hits the auction block in January 2026. The Mazda CX-30 is a compact, sporty, utilitarian, and economically minded crossover SUV — and oddly enough, it's only marginally more expensive than an equivalent Mazda 3. That surprised me. The CX-30 is a great deal in its base trim, especially since it includes standard all-wheel drive (AWD) — something you have to pay extra for on most Mazda 3 models. When comparing them side by side, the CX-30 often offers more bang for your buck. That's not to say the Mazda 3 is lacking — far from it. It's one of the best compact cars on the market. However, its platform mate, the CX-30, offers nearly the same experience with added utility and easier day-to-day livability. Source: ND Adlen A few trade-offs come with that. The CX-30 is slightly less efficient, a bit pricier, and not quite as sharp to drive. And while I'm focusing on the hatchback version of the Mazda 3 (not the sedan, which is about $1,000 less), it's still curious that Mazda has priced the two so closely, especially given how consumer demand continues to lean toward crossovers. Mazda 3 2.5 Hatchback (Starting at $25,150) Although it starts at a slightly higher price than some of its rivals, the Mazda 3 offers a premium feel inside and out. Top trims, like the 2.5 Turbo Premium Plus hatchback, can climb above $38,000, but you're paying for one of the nicest interiors in the compact class, paired with refined driving dynamics that punch well above their weight. Source: Kyle Edward Powertrains mirror those in the CX-30. The standard engine is a 2.5L naturally aspirated four-cylinder making 191 hp and 186 lb-ft of torque. It's paired with a 6-speed automatic transmission, which — despite sounding outdated on paper — performs beautifully. If you want a manual, it's only available on the 2.5 S Premium hatchback with front-wheel drive. The available turbocharged 2.5L engine produces 250 hp and 310 lb-ft of torque (on premium fuel) and is paired with AWD. Fuel economy for the base front-drive model is 26 mpg city / 36 mpg highway. Opting for AWD, turbocharging, or the manual will lower those numbers slightly. I like the external shape and proportions of the Mazda 3, but it may be getting a bit dated for some. The rear pillar is a bit thick on the hatchback, which can be polarizing to some. Internally, the upscale-looking interior is driver-focused, with excellent use of higher-end materials throughout. Mazda 3's infotainment screen size varies depending on the trim level. Base models feature an 8.8-inch display, while some higher trims, like the Turbo models, have a larger 10.3-inch screen. Source: Mazda Driving the Mazda 3 Hatchback Right out of the gate, the standard 2.5L engine impresses. It's more powerful than many base engines in this class, and the 6-speed auto complements it well. Mazda's choice to avoid CVTs or overly complicated 8- and 9-speed gearboxes pays off in smooth, responsive performance. The Mazda 3's handling is among the best in its segment. Ride comfort is excellent, and its composure on the highway gives it the feel of a more expensive vehicle. Its low ride height (just 5.5 inches of ground clearance) helps with agility, though it also makes scraping curbs or speed bumps more likely. Cornering is sharp, but if pushed too hard, the Ford-derived E-link rear suspension can show its limits. Mazda CX-30 2.5 (Starting at $25,195) If you guessed the CX-30 is essentially a lifted Mazda 3 with a different body, you'd be right. It rides on the same Skyactiv platform and shares the same engine lineup. The base 2.5L four-cylinder makes 191 hp and 186 lb-ft of torque, and the available 2.5L turbo delivers up to 250 hp and 310 lb-ft (on premium). The major difference is that AWD is standard on all CX-30 trims, and there's no manual transmission available. The base engine's fuel economy is rated at 26 mpg city / 33 mpg highway. The turbo model returns 22 mpg in the city / 30 mpg on the highway. These numbers are slightly lower than the Mazda 3, but surprisingly close given the CX-30's extra weight and taller stance. Speaking of its taller stance, I find the CX-30 to be a handsome little package externally, with the exception of the black fender extensions. They almost look like they were added as an afterthought. Inside, the interior is nice, but not as driver-centric as the Mazda 3. Entry-level and mid-tier trims feature an 8.8-inch display, while higher trims, including those with the turbo engine, are equipped with a 10.25-inch screen, which has some touch-screen capability. Driving the Mazda CX-30 I've driven everything from the base CX-30 to the loaded $37K Turbo Premium Plus — and across the board, it's an enjoyable drive. The base engine is plenty capable for most drivers, and the turbo adds serious punch. While it doesn't feel quite as nimble as the Mazda 3, the CX-30 compensates with a smoother ride over rough roads. Thanks to its 8 inches of ground clearance, it's much easier to get in and out of, and the elevated driving position provides better visibility. Despite having similar cargo space to the Mazda 3 hatchback, the CX-30 feels more spacious overall. Mazda's AWD system is intelligent — it primarily operates in front-wheel drive mode to conserve fuel, but instantly activates the rear wheels when needed. It's one of the better systems in this class. Final Thoughts To be honest, I don't fully understand why Mazda priced the CX-30 so close to the Mazda 3. The CX-30 offers more versatility, standard AWD, and easier usability — all for just a tiny premium. Unless you strongly prefer a lower ride and sportier feel, the CX-30 is likely the better all-around value. That said, both vehicles remain excellent choices in their respective categories, especially for drivers who value quality, driving engagement, and style without breaking the bank.
Reuters
3 minutes ago
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Trump says US will levy 100% tariff on some chip imports
WASHINGTON, Aug 6 (Reuters) - The United States will impose a tariff of about 100% on semiconductor chips imported from countries not producing in America or planning to do so, President Donald Trump said. Trump told reporters in the Oval Office on Wednesday the new tariff rate would apply to "all chips and semiconductors coming into the United States," but would not apply to companies that had made a commitment to manufacture in the United States or were in the process of doing so. "If, for some reason, you say you're building and you don't build, then we go back and we add it up, it accumulates, and we charge you at a later date, you have to pay, and that's a guarantee," Trump added. The comments were not a formal tariff announcement, and Trump offered no further specifics. It is not clear how many chips, or from which country, would be impacted by the new levy. Taiwanese chip contract manufacturer TSMC ( opens new tab - which makes chips for most U.S. companies - has factories in the country, so its big customers such as Nvidia (NVDA.O), opens new tab are not likely to face increased tariff costs. The AI chip giant has itself said it plans to invest hundreds of billions of dollars in U.S.-made chips and electronics over the next four years. An Nvidia spokesperson declined to comment for this story. "Large, cash-rich companies that can afford to build in America will be the ones to benefit the most. It's survival of the biggest," said Brian Jacobsen, chief economist at investment advisory firm Annex Wealth Management. Congress created a $52.7 billion semiconductor manufacturing and research subsidy program in 2022. The Commerce Department under President Joe Biden last year convinced all five leading-edge semiconductor firms to locate chip factories in the U.S. as part of the program. The department said the U.S. last year produced about 12% of semiconductor chips globally, down from 40% in 1990. Any chip tariffs would likely target China, with whom Washington is still negotiating a trade deal. "There's so much serious investment in the United States in chip production that much of the sector will be exempt," said Martin Chorzempa, senior fellow at the Peterson Institute for International Economics. Since chips made in China won't be exempt, chips made by SMIC or Huawei would not be either, Chorzempa said, noting that chips from these companies entering the U.S. market were mostly incorporated into devices assembled in China. "If these tariffs were applied without a component tariff, it might not make much difference," he said. Chipmaking nations South Korea and Japan, as well as the European Union, have reached trade deals with the U.S., potentially giving them an advantage. The EU said it agreed to a single 15% tariff rate for the vast majority of EU exports, including cars, chips and pharmaceuticals. South Korea and Japan said separately that U.S. agreed not to give them worse tariff rates than other countries on chips, suggesting a 15% levy as well.
Reuters
3 minutes ago
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South Korea trade envoy says Samsung, SK Hynix will not be subject to 100% US tariffs on chips
SEOUL, Aug 7 (Reuters) - South Korea's top trade envoy Yeo Han-koo said on Thursday that chipmakers Samsung Electronics ( opens new tab and SK Hynix ( opens new tab will not be subject to 100% U.S. tariffs on chips. Yeo said on radio that among various countries South Korea will face the most favourable U.S. tariff rates on chips under the trade deal between Washington and Seoul.
