Latest news with #AlessandroParodi
Yahoo
13-05-2025
- Automotive
- Yahoo
Global EV sales rise in April despite trade disruptions, research finds
By Alessandro Parodi (Reuters) -Global sales of electric and plug-in hybrid vehicles rose 29% year-on-year in April, with stable growth in China and Europe despite trade tensions, while North America recorded the first fall since last September, data showed on Wednesday. European EV sales of legacy auto groups that are seeking to sell less polluting models to meet EU CO2 emission targets, outperformed those of Tesla. Tesla continued to lose market share ahead of a revamp of its popular Model Y, Rho Motion data manager Charles Lester said. China-based EV makers continued to increase domestic sales of battery-electric vehicles while responding to growing demand for plug-in hybrids offshore, he added. WHY IT'S IMPORTANT Global automakers face a 25% import tariff in the United States, the world's second-largest car market, causing many of them to withdraw their outlooks for 2025. President Donald Trump's stance towards emissions standards and uncertainties around tariffs also hampered EV growth in North America. His deals this month with Britain and China only affect EV sales marginally, but are positive signs for the industry ahead of his potential talks with Korea, Japan and the EU, Lester said. BY THE NUMBERS Global sales of battery-electric vehicles and plug-in hybrids rose to 1.5 million in April, the Rho Motion data showed. Sales in China were up 32% from the same month of 2024 to 0.9 million vehicles. Europe reported a 35% year-on-year increase in registrations to 0.3 million cars sold, while in North America they fell 5.6% to 0.1 million. In the rest of the world, April sales rose by 50%. KEY QUOTE "The plug-in hybrids have almost doubled year to date in the rest of the world, but the main reason for that is the Chinese exports," Lester said. CONTEXT Governments worldwide are adopting policies to encourage EV adoption, while trade tensions and slowing car markets could foreshadow plant closures and job losses. China extended its auto trade-in subsidies into 2025 as part of an expanded consumer trade-in scheme in January, to try to avert a slowdown in EV sales while reviving economic growth. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-05-2025
- Automotive
- Yahoo
Tesla's UK sales lowest in over two years in April as Europe snubs Musk
By Alessandro Parodi (Reuters) -Tesla's new car sales in Britain plummeted 62% year-on-year in April to their lowest in over two years, even as demand for electric vehicles rose, data from research group New AutoMotive showed on Tuesday. Sales of billionaire Elon Musk's EV cars also plunged to multi-year lows in some other key European markets last month, national data showed last week, as Tesla prepares to counter competition from European and Chinese EV brands with the launch of a revamped Model Y. Britain had bucked the gloomy European trend for Tesla this year, but in April the automaker sold just 536 new cars there, down from 1,404 in the same month of 2024, leading to a year-to-date EV market share for the brand of 9.3%. Tesla's website in Britain says that estimated deliveries of the revamped Model Y will start in June, but it will take a couple of months before sales data show if the updated version has won back customers. Musk's closeness to U.S. President Donald Trump and his embrace of far-right politics in Europe have led to protests against him and the company, as well as vandalism at its showrooms and charging stations across the U.S. and Europe. After the brand's first-quarter global sales and profit missed estimates, Musk said two weeks ago he would cut back on the time he devotes to the Trump administration and spend more time running the company. Overall battery-electric car registrations in Britain increased by 6.9% in April, slowing from the previous month due to broader economic conditions, New AutoMotive said. Volkswagen's battery-electric sales in Britain jumped 194% to 2,314 vehicles last month, while registrations of China's BYD were up 311% to 1,419 cars. (Reporting by Alessandro Parodi. Editing by Mark Potter)
Yahoo
01-05-2025
- Automotive
- Yahoo
Chinese EV makers sell more plugin-hybrids in the EU to avoid tariffs, research firm says
By Alessandro Parodi (Reuters) -Chinese carmakers including BYD and Chery are selling more plugin-hybrids in the European Union to avoid import tariffs on Chinese-made electric cars, data released on Friday showed. The two brands sold 3,269 and 757 plugin-hybrid vehicles (PHEVs), respectively, in the bloc in March, up from near zero sales in July 2024 when provisional tariffs were first introduced, research firm Rho Motion said in a report. WHY IT'S IMPORTANT EU tariffs of up to 45.3% on Chinese-built battery-electric vehicles (BEVs) came into full effect in November to prevent a flood of cheap cars. Facing disruption from U.S. tariffs, the EU and China are negotiating a relaxation of the European levies. But in the meantime, EV makers such as BYD and Leapmotor have adjusted their European strategy to adapt to the EU tariffs and the slower-than-expected mass adoption of BEVs in Europe. On Tuesday, BYD said it would introduce two more PHEV models in Germany this year. BY THE NUMBERS BYD pays a 27.5% tariff on BEVs it sells in the EU, and 10% for PHEVs. That means paying 10,257 euros ($11,656) for each Atto 3 BEV it sells in Germany, the report said. For the Seal U PHEV, it pays 3,999 euros. The group's March BEV sales in the EU more than doubled to 4,633 from March 2024, but its PHEV sales went from none to 3,269. Chery, which also pays a baseline 10% tariff and an additional 21.3% levy on BEVs, sold 310 BEVs and 757 PHEVs. SAIC faces the highest BEV tariff of 35.3%. But it has not scaled up PHEV sales as much, the report said. QUOTE "It was only a matter of time before manufacturers found a backdoor to the market," said Didi Bostock, Membership Editor for Rho Motion. "And now they have, through hybrids." ($1 = 0.8800 euros) Sign in to access your portfolio
Yahoo
30-04-2025
- Business
- Yahoo
Dutch payments firm Adyen misses first-quarter sales forecasts but confirms 2025-2026 outlook
By Alessandro Parodi and Gianluca Lo Nostro (Reuters) -Adyen, one of the world's largest payment companies, reported quarterly revenue below market forecasts on Wednesday, but maintained its sales outlook for this year and next, saying so far global trade tensions have not affected its business. Adyen Chief Financial Officer Ethan Tandowsky told Reuters that while economic volatility might affect some of its clients, it would not change the company's strategy or its outlook, and so far it has not had any significant impact. The Amsterdam-listed company has been relying on its U.S. clients, such as eBay and Cash App to win more market share in the country, where its main competitors include fintech giants PayPal and Fiserv. "We see the opportunity in the U.S. the same as it was before," Tandowsky said. "We're focused on what we can control: deepening relationships with existing customers and onboarding new ones." Adyen's first-quarter net revenue rose 22% to 534.7 million euros ($608.3 million), missing analysts' average estimate of 541 million euros, according to a Visible Alpha consensus provided by the company. Its processed volume, or the value of all transactions on its payment platform, totalled 318.8 billion euros in the quarter, below the 336.1 billion euros forecast. J.P. Morgan analysts attributed the miss to a revenue loss from a partnership with one large client. Still, the group maintained its forecast that 2026 net revenue growth will be in the low- to high-twenties percentage range, and core earnings (EBITDA) margin will top 50%. Adyen also confirmed its earlier 2025 forecast of higher revenue growth, albeit with a caveat that global trade tensions might yet affect economic activity and its clients. "If market volume growth slows, achieving the anticipated acceleration may prove more challenging," Tandowsky said in a statement.($1 = 0.8790 euros) Sign in to access your portfolio
Yahoo
30-04-2025
- Business
- Yahoo
Dutch payments firm Adyen's first-quarter sales miss forecasts amid trade uncertainty
By Alessandro Parodi and Gianluca Lo Nostro (Reuters) -Adyen, one of the world's largest payment companies, reported quarterly revenue below market expectations on Wednesday, showing the Dutch company was not immune to the impact of global trade tensions on economic activity and its clients. Its shares fell as much as 5.7% in early trade. Despite its global reach and track record navigating a challenging market environment, Adyen remains exposed to the risk of a global recession, analysts say. The Amsterdam-listed company has been relying on its U.S. clients, such as eBay and Cash App to win more market share in the country, where its main competitors include fintech giants PayPal and Fiserv. "We see the opportunity in the U.S. the same as it was before," Adyen Chief Financial Officer Ethan Tandowsky told Reuters. He said that economic volatility might affect some of its clients, but this would not change Adyen's strategy or its outlook. "We're focused on what we can control: deepening relationships with existing customers and onboarding new ones." Adyen's first-quarter net revenue rose 22% to 534.7 million euros ($608.3 million), missing analysts' average estimate of 541 million euros, according to a Visible Alpha consensus provided by the company. Its processed volume, or the value of all transactions on its payment platform, totalled 318.8 billion euros in the quarter, below 336.1 billion euros expected by analysts. Still, the group maintained its forecast that 2026 net revenue growth will be in the low- to high-twenties percentage range, and core earnings (EBITDA) margin will top 50%. Adyen also confirmed its earlier 2025 forecast of higher revenue growth, albeit with a caveat. "If market volume growth slows, achieving the anticipated acceleration may prove more challenging," Tandowsky said in a statement.($1 = 0.8790 euros) Sign in to access your portfolio
