Tesla's monthly sales in Europe plunge by half
Tesla sales across Europe plunged by half in April even as growth in the electric car market picked up pace, according to newly released data.
The numbers are the latest indication of how much the Tesla brand is suffering because of the backlash against billionaire chief executive Elon Musk over his political views.
Sales of Tesla vehicles in 32 European countries tumbled 49 per cent to 7261 in April from 14,228 in the same month the previous year, according to figures released by the European Automobile Manufacturers Association, or ACEA.
At the same time, sales of battery-electric vehicles by all manufacturers rose about 28 per cent.
Meanwhile, sales of petrol and diesel-powered cars slumped.
The figures, which cover the European Union's 27 member countries and five other nations outside the bloc, back up early data from Sweden, the Netherlands and Denmark released earlier this month that had pointed to a sales collapse.
Tesla has been reeling from protests and boycotts over Musk wading into politics, but it also faces other factors including an ageing model line-up and intensifying competition from rival electric vehicle (EV) brands, particularly from China.
In one sign that Tesla appears to be losing ground to cut-price Chinese brands, sales at China's SAIC rose 54 per cent in April, according to the ACEA figures.
SAIC owns a slew of auto brands including UK-based MG, known for its low-cost EV models.
Tesla is also suffering because it had to shut down factories for several weeks this year while upgrading its best selling Model Y sport utility vehicle, pinching supply.
For the first four months of the year, Tesla's European sales fell roughly 39 per cent to 61,320 while the continent's auto market as a whole showed little change during the same period, according to the data.
Tesla sales across Europe plunged by half in April even as growth in the electric car market picked up pace, according to newly released data.
The numbers are the latest indication of how much the Tesla brand is suffering because of the backlash against billionaire chief executive Elon Musk over his political views.
Sales of Tesla vehicles in 32 European countries tumbled 49 per cent to 7261 in April from 14,228 in the same month the previous year, according to figures released by the European Automobile Manufacturers Association, or ACEA.
At the same time, sales of battery-electric vehicles by all manufacturers rose about 28 per cent.
Meanwhile, sales of petrol and diesel-powered cars slumped.
The figures, which cover the European Union's 27 member countries and five other nations outside the bloc, back up early data from Sweden, the Netherlands and Denmark released earlier this month that had pointed to a sales collapse.
Tesla has been reeling from protests and boycotts over Musk wading into politics, but it also faces other factors including an ageing model line-up and intensifying competition from rival electric vehicle (EV) brands, particularly from China.
In one sign that Tesla appears to be losing ground to cut-price Chinese brands, sales at China's SAIC rose 54 per cent in April, according to the ACEA figures.
SAIC owns a slew of auto brands including UK-based MG, known for its low-cost EV models.
Tesla is also suffering because it had to shut down factories for several weeks this year while upgrading its best selling Model Y sport utility vehicle, pinching supply.
For the first four months of the year, Tesla's European sales fell roughly 39 per cent to 61,320 while the continent's auto market as a whole showed little change during the same period, according to the data.
Tesla sales across Europe plunged by half in April even as growth in the electric car market picked up pace, according to newly released data.
The numbers are the latest indication of how much the Tesla brand is suffering because of the backlash against billionaire chief executive Elon Musk over his political views.
Sales of Tesla vehicles in 32 European countries tumbled 49 per cent to 7261 in April from 14,228 in the same month the previous year, according to figures released by the European Automobile Manufacturers Association, or ACEA.
At the same time, sales of battery-electric vehicles by all manufacturers rose about 28 per cent.
Meanwhile, sales of petrol and diesel-powered cars slumped.
The figures, which cover the European Union's 27 member countries and five other nations outside the bloc, back up early data from Sweden, the Netherlands and Denmark released earlier this month that had pointed to a sales collapse.
Tesla has been reeling from protests and boycotts over Musk wading into politics, but it also faces other factors including an ageing model line-up and intensifying competition from rival electric vehicle (EV) brands, particularly from China.
In one sign that Tesla appears to be losing ground to cut-price Chinese brands, sales at China's SAIC rose 54 per cent in April, according to the ACEA figures.
SAIC owns a slew of auto brands including UK-based MG, known for its low-cost EV models.
Tesla is also suffering because it had to shut down factories for several weeks this year while upgrading its best selling Model Y sport utility vehicle, pinching supply.
For the first four months of the year, Tesla's European sales fell roughly 39 per cent to 61,320 while the continent's auto market as a whole showed little change during the same period, according to the data.
Tesla sales across Europe plunged by half in April even as growth in the electric car market picked up pace, according to newly released data.
The numbers are the latest indication of how much the Tesla brand is suffering because of the backlash against billionaire chief executive Elon Musk over his political views.
Sales of Tesla vehicles in 32 European countries tumbled 49 per cent to 7261 in April from 14,228 in the same month the previous year, according to figures released by the European Automobile Manufacturers Association, or ACEA.
At the same time, sales of battery-electric vehicles by all manufacturers rose about 28 per cent.
Meanwhile, sales of petrol and diesel-powered cars slumped.
The figures, which cover the European Union's 27 member countries and five other nations outside the bloc, back up early data from Sweden, the Netherlands and Denmark released earlier this month that had pointed to a sales collapse.
Tesla has been reeling from protests and boycotts over Musk wading into politics, but it also faces other factors including an ageing model line-up and intensifying competition from rival electric vehicle (EV) brands, particularly from China.
In one sign that Tesla appears to be losing ground to cut-price Chinese brands, sales at China's SAIC rose 54 per cent in April, according to the ACEA figures.
SAIC owns a slew of auto brands including UK-based MG, known for its low-cost EV models.
Tesla is also suffering because it had to shut down factories for several weeks this year while upgrading its best selling Model Y sport utility vehicle, pinching supply.
For the first four months of the year, Tesla's European sales fell roughly 39 per cent to 61,320 while the continent's auto market as a whole showed little change during the same period, according to the data.
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9 News
38 minutes ago
- 9 News
China has a valuable card to play as it holds trade talks with the US today
Your web browser is no longer supported. To improve your experience update it here A new round of trade negotiations between the United States and China will continue into tomorrow in London, with both sides trying to preserve a fragile truce brokered last month. The fresh talks were announced last week after a long-anticipated phone call between US President Donald Trump and Chinese leader Xi Jinping, which appeared to ease tensions that erupted over the past month following a surprise agreement in Geneva. The talks began yesterday and tomorrow will mark the second day, a source told CNN. A new round of trade negotiations between the United States and China will continue into Tuesday in London, with both sides trying to preserve a fragile truce brokered last month. (CNN) Last month, the two sides agreed to drastically roll back tariffs on each other's goods for an initial 90-day period. The mood was upbeat. However, sentiment soured quickly over two major sticking points: China's control over so-called rare earth minerals and its access to semiconductor technology originating from the US. Beijing's exports of rare earths and their related magnets are expected to take centre stage at the London talks. Experts say Beijing is unlikely to give up its strategic grip over the essential minerals, which are needed in a wide range of electronics, vehicles and defence systems. "China's control over rare earth supply has become a calibrated yet assertive tool for strategic influence," said Robin Xing, Morgan Stanley's chief China economist. "Its near-monopoly of the supply chain means rare earths will remain a significant bargaining chip in trade negotiations." Since the talks in Geneva, Trump has accused Beijing of effectively blocking the export of rare earths, announcing additional chip curbs and threatening to revoke the US visas of Chinese students. Since the talks in Geneva, Trump has accused Beijing of effectively blocking the export of rare earths (CNN) The moves have provoked backlash from China, which views Washington's decisions as reneging on its trade promises. All eyes will be on whether both sides can come to a consensus in London on issues of fundamental importance. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will meet a Chinese delegation led by Vice Premier He Lifeng. Trump has authorised his trade negotiating team, led by Bessent, to ease up on some key export restrictions of US goods to China that the United States had put in place for national security concerns, three sources familiar with the matter told CNN. It remains unclear exactly what the negotiators will put on the table, but it appears as though the Trump administration will draw the line at some critical technology that the United States maintains is crucial for its competitiveness with China, the world's second-largest economy. In exchange for immediately easing or halting some — or perhaps a large number of – export controls, the United States wants China to release high volumes of rare earth materials. On Saturday, Beijing appeared to send conciliatory signals. A spokesperson for China's Commerce Ministry, which oversees the export controls, said it had "approved a certain number of compliant applications." it appears as though the Trump administration will draw the line at some critical technology that the United States maintains. (AP) "China is willing to further enhance communication and dialogue with relevant countries regarding export controls to facilitate compliant trade," the spokesperson said. 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West Australian
2 hours ago
- West Australian
‘Battle for the 21st century' as China and US trade officials hold talks in London
US President Donald Trump's top trade officials met their Chinese counterparts in London on Monday for talks aimed at resolving an ongoing trade dispute between the world's two largest economies. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer are representing the US. China's Foreign Ministry said Saturday that Vice Premier He Lifeng, Beijing's lead trade negotiator, will be in the UK between June 8 and 13, and that a meeting of the 'China-US economic and trade consultation mechanism' would take place. National Economic Council Director Kevin Hassett on Monday said that the US was seeking confirmation China would restore the flows of critical minerals. 'The purpose of the meeting today is to make sure that they're serious, but to literally get handshakes ... and get this thing behind us,' Hassett said. He added that he expected it 'to be a short meeting with a big, strong handshake.' 'Our expectation is that ... immediately after the handshake, any export controls from the US will be eased, and the rare earths will be released in volume, and then we can go back to negotiating smaller matters,' Hassett said. The talks come after Trump last week said he had held a lengthy phone call with Chinese President Xi Jinping as both look to avert a full-blown trade war. Diplomatic efforts by both sides have ramped up after weeks of heightened trade tension and uncertainty after Trump announced sweeping import tariffs on China and other trading partners in April. Beijing retaliated, and a tit-for-tat escalation in duties ensued before both sides agreed in Geneva in May to temporarily slash duties for 90 days and to facilitate talks. At the time, the US tariff on Chinese imports was cut from 145 per cent to 30 per cent, while China's levies on US imports were lowered from 125 per cent to 10 per cent. China and the US have since repeatedly accused each other of violating the Geneva agreement, with Washington saying Beijing was slow to approve the export of additional critical minerals to the US, while China criticised the US imposing new restrictions on Chinese student visas and additional export restrictions on chips. US press secretary Karoline Leavitt on Sunday said that the London talks would focus on moving forward with the Geneva agreement, noting the two sides' strategic interests in each other's markets. Analysts say the Monday talks are unlikely to make much progress in resolving disagreements and sector-specific tariffs targeting a range of strategic industries, ranging from technology and critical minerals to manufacturing and agriculture. Rebecca Harding, chief executive of the Centre for Economic Security, said on Monday that China and the US 'are locked in an existential battle at the moment'. 'There's absolutely no other way of describing all of this, and this is about how data flows. It's about information. It's about AI. It's about tech. It's about defence too,' she said. 'China's rapidly expanding its munitions production at the moment. So it's about how these two economies actually compete and survive in a digital world where nobody really knows what the power of the nation-state is. 'It's much, much more than just about trade and what's going on in that domain between the two countries. It's about how they run their economies. This is only just starting and, effectively, it's a battle for the 21st century,' she added. Optimistic that talks are taking place at all, Zhiwei Zhang, president and chief economist of Pinpoint Asset Management, said that it could take months for trade tensions to be resolved. 'I don't really have very high expectations for these trade talks ... I doubt they will reach an agreement very soon,' he said. 'There could be some resolution on specific issues, like a rare earths, for instance, China already announced that they will give some permits to foreign firms applying for imports. Now, those kind of a temporary solution, we might see some of that come out. But I doubt we will have a complete solution coming from this dialog in the UK,' Zhang added. CNBC
Sky News AU
4 hours ago
- Sky News AU
US-China trade talks providing ‘optimism' of possible progress
CommSec's Tom Piotrowski claims there's 'optimism' that there'll be some progress made in the trade war between China and America amid a new round of talks between the two nations. 'One of the factors that is top of mind for Northern Hemisphere investors – or indeed globally at the moment – is the looming trade talks that will take place between the Chinese and US leadership. This is going to happen in London,' he told Sky News Australia. 'There's some optimism that there'll be some progress made, but that's only been reflected very modestly in US markets as they closed overnight.' Presented by CommSec.
