Latest news with #BritishColumbiaHydro
Yahoo
19-03-2025
- Automotive
- Yahoo
Tesla Just Got Banned--And That's Only the Beginning
Tesla (NASDAQ:TSLA) just got kicked out of the Vancouver International Auto Show, and the fallout is only getting worse. Event organizers pulled the plug over "safety concerns," but the bigger story is the growing wave of anti-Tesla sentiment. Protesters in Vancouver and Ottawa have been rallying against CEO Elon Musk, taking aim at his political influence and ties to U.S. President Donald Trump. Meanwhile, British Columbia Hydro has axed Tesla from its EV rebate program as Canada pushes back against U.S. trade policies. The result? A reputational hit in a key market where Tesla once thrived. But the problems don't stop there. Tesla's sales just dropped for the first time ever, signaling that demand isn't what it used to be. Used Tesla prices are also tankingfalling 7.3% year over year, more than double the overall decline in the used car market. And now, Tesla's name is being dragged into an FBI investigation after a gunman torched vehicles at a Las Vegas service center in what's being considered an act of domestic terrorism. This isn't just another bad headlineit's a sign that the brand is facing real turbulence. Investors are already feeling the heat. Tesla's stock is down 44% year-to-date, despite holding onto a 30% gain over the past year. With competition ramping up, demand softening, and Musk at the center of fresh controversy, Tesla isn't the invincible force it once was. The EV leader still has a massive fanbase, but it's clear the market is shiftingand not in Tesla's favor. This article first appeared on GuruFocus.
Globe and Mail
19-03-2025
- Automotive
- Globe and Mail
Tesla (TSLA) Gets Removed from the Vancouver International Auto Show
Tesla (TSLA) has been removed from the Vancouver International Auto Show this week due to safety concerns. The decision was announced on Tuesday by Eric Nicholl, the event's executive director, who explained that the main issue was ensuring the safety of workers, attendees, and exhibitors. The EV maker was given multiple chances to withdraw voluntarily but was ultimately asked not to come. Although the organizers said that it was a difficult decision, they felt it was necessary due to the recent events across North America. Light Up your Portfolio with Spark: Easily identify stocks' risks and opportunities. Discover stocks' market position with detailed competitor analyses. In fact, there were recent protests in Vancouver and Ottawa against Tesla and its CEO, Elon Musk, due to his advisory role to U.S. President Donald Trump. However, the organizers of the auto show clarified that their decision was not politically motivated but was influenced by the growing tensions surrounding the company. This situation adds to Tesla's increasing challenges in Canada. Indeed, just last week, British Columbia Hydro announced that Tesla products would no longer be included in its electric vehicle rebate program. This decision is part of the provincial government's effort to prioritize Canadian-made products as the Canada-U.S. trade dispute continues. Meanwhile, Tesla's stock has struggled so far in 2025, as it is down over 40%. Nevertheless, despite the decline, the company's stock remains 34% higher over the past 12 months. Is Tesla a Buy, Sell, or Hold? Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 12 Buys, 13 Holds, and 11 Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $330.39 per share implies 40% upside potential. See more TSLA analyst ratings Questions or Comments about the article? Write to editor@
Yahoo
19-03-2025
- Automotive
- Yahoo
Tesla Exits 2025 Vancouver Auto Show Over Safety Concerns
March 19 - Tesla (TSLA, Financial) has been pulled from the 2025 Vancouver International Auto Show over safety concerns from event director Eric Nicholl at the Vancouver Convention Centre. Organizers cited primary concerns for the safety of workers, attendees, and exhibitors, noting that Tesla had been given several opportunities to withdraw voluntarily. The decision comes as escalating security issues unfold across North America. This removal follows protests in both Vancouver and Ottawa over the weekend, where demonstrators condemned CEO Elon Musk's advisory role to U.S. President Donald Trump. In a related move, British Columbia Hydro recently excluded Tesla products from its electric vehicle rebate program as part of the provincial effort to favor Canadian-made goods amid the ongoing Canada-U.S. trade dispute. This decision also exemplifies the difficulties that Tesla is currently facing in how to balance its global event participation with security and public sentiment as it comes in the wake of regulatory and geopolitical pressures. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
19-03-2025
- Automotive
- Yahoo
Tesla Exits 2025 Vancouver Auto Show Over Safety Concerns
March 19 - Tesla (TSLA, Financial) has been pulled from the 2025 Vancouver International Auto Show over safety concerns from event director Eric Nicholl at the Vancouver Convention Centre. Organizers cited primary concerns for the safety of workers, attendees, and exhibitors, noting that Tesla had been given several opportunities to withdraw voluntarily. The decision comes as escalating security issues unfold across North America. This removal follows protests in both Vancouver and Ottawa over the weekend, where demonstrators condemned CEO Elon Musk's advisory role to U.S. President Donald Trump. In a related move, British Columbia Hydro recently excluded Tesla products from its electric vehicle rebate program as part of the provincial effort to favor Canadian-made goods amid the ongoing Canada-U.S. trade dispute. This decision also exemplifies the difficulties that Tesla is currently facing in how to balance its global event participation with security and public sentiment as it comes in the wake of regulatory and geopolitical pressures. This article first appeared on GuruFocus.
Yahoo
19-03-2025
- Automotive
- Yahoo
Vancouver International Auto Show removes Tesla, citing safety concerns at event
VANCOUVER, British Columbia (AP) — Tesla has been removed from participating in this week's Vancouver International Auto Show over safety concerns, the event's executive director said Tuesday. Eric Nicholl said in a statement that the show asked the electric carmaker to withdraw because of a 'primary concern' for the safety of workers, attendees and exhibitors. Nicholl said Tesla was provided 'multiple opportunities to voluntarily withdraw.' 'This decision will ensure all attendees can be solely focused on enjoying the many positive elements of the event,' the statement said. The show at the Vancouver Convention Centre begins Wednesday and will end Sunday. The automaker's removal comes after so-called 'Tesla Takedown' protests over the weekend, including in Ottawa and Vancouver, that denounced Tesla CEO Elon Musk and his role advising U.S. President Donald Trump, who has infuriated Canadians with talk of making Canada the 51st U.S. state. About two dozen protesters had gathered outside a Tesla dealership in Surrey, British Columbia, on Sunday, the day after a similar protest in Vancouver, holding signs with messages including 'elbows up,' 'Elon be-gone' and 'democracy dies in apathy.' Pat McCutcheon, who attended the Surrey protest, said in an interview on Tuesday that the organizers of the auto show did the right thing by removing Tesla. 'Given the temperature of the situation, there are people, unfortunately, out there that are very annoyed with the Tesla situation and the Elon Musk situation,' said McCutcheon. He said he had heard nothing about any protests at the auto show, but said there was a 'fair amount of emotion' surrounding Tesla. 'The last thing you want (for) one of your organizations is for there to be some vandalism or some physical confrontation. So, I think they made the right decision,' he said. McCutcheon said he is organizing a protest outside a Langley, British Columbia Tesla dealership this weekend. 'Elon Musk is using his extraordinary wealth to basically corrupt democracy and do what he wants to do, and citizens, both in the United States, Canada, globally, need to push back on this,' said McCutcheon. Last week, British Columbia Hydro banned Tesla products from its electric vehicle rebate program as part of the provincial government's move to give preference to Canadian goods and exclude U.S. ones from rebates if practical amid the ongoing Canada-U.S. trade war.
