Latest news with #LizLee
Yahoo
2 days ago
- Automotive
- Yahoo
Tesla (TSLA) Sees 675% Australia Sales Rebound in May Amid Global Struggles
Tesla (TSLA, Financials) reported a major rebound in May sales in Australia, where deliveries jumped to 3,897 vehiclesup over 675% from April and the highest monthly total in nearly a year. The surge was driven almost entirely by demand for the company's recently updated Model Y SUV, according to the Australian Electric Vehicle Council. Year-over-year, Tesla's Australian sales rose just 9.3%, but the rebound followed a steep slump in April, when the company sold only 500 units. Sales of the Model Y were up 122.5% from a year earlier, while Model 3 deliveries declined significantly. Despite the improvement, Tesla's year-to-date sales in Australia remain down 48.2% from the same period in 2024. Globally, Tesla continues to face headwinds. First-quarter sales dropped 13% year over year, according to Counterpoint Research. In May, sales declined 11% in the U.S. and slipped in several European markets, including Spain, Portugal, Denmark and Sweden. However, the company saw localized rebounds in Norwaywhere sales rose 213%and in Turkey, which posted a monthly record of 1,545 units sold. Counterpoint's Liz Lee told CNBC that the Australia spike is notable but insufficient to offset broader weakness. She said Tesla must turn to high-potential markets such as India, Southeast Asia, and Latin America, especially as EV infrastructure expands and local incentives grow. Tesla is leasing a new warehouse in Mumbai as part of its anticipated India expansion, which could be critical as competition heats up globally. Chinese automaker BYD outsold Tesla in Europe for the first time this spring, and is ramping up hybrid and EV options globally. However, in Australia last month, Tesla regained the lead with 3,897 vehicles sold versus BYD's 3,225. Hybrid vehicles are gaining traction in Australia, where concerns about range and charging access persist. According to Australia's Federal Chamber of Automotive Industries, hybrid sales rose 6% and plug-in hybrids surged 118% in May. Tesla shares rose about 0.5% Tuesday but remain down roughly 15% year to date. Explore Tesla's valuation chart. This article first appeared on GuruFocus.
Yahoo
2 days ago
- Business
- Yahoo
Apple, Samsung Sales Outlook Tumbles on U.S. Tariff Uncertainty
June 4 - Counterpoint Research cut its 2025 global smartphone shipment growth forecast to 1.9% from 4.2%, citing renewed uncertainty over U.S. tariffs. Apple (NASDAQ:AAPL) is now expected to see shipments rise about 2.5% in 2025, down from a previous 4% forecast. Samsung's shipments were trimmed to flat growth, versus an earlier 1.7% increase projection. Although tariffs influenced our revisions, we are also factoring in weaker demand across Europe and parts of Asia, said Counterpoint Research Associate Director Liz Lee. U.S. President Donald Trump announced reciprocal tariffs in April, though smartphones and electronics were temporarily exempted. Still, the prospect of levies has weighed on both Apple and Samsung, which rely heavily on the U.S. market. Shipments represent units sent to retailers, not actual sales. Apple has shifted more iPhone production to India, drawing criticism from Trump, who has urged manufacturing to move back to the U.S. Huawei is a standout, with Counterpoint projecting 11% year-on-year shipment growth in 2025. Easing component bottlenecks should help Huawei gain share in mid-to-lower-end segments, added Associate Director Ethan Qi. This article first appeared on GuruFocus.
Yahoo
2 days ago
- Business
- Yahoo
Apple, Samsung Sales Outlook Tumbles on U.S. Tariff Uncertainty
June 4 - Counterpoint Research cut its 2025 global smartphone shipment growth forecast to 1.9% from 4.2%, citing renewed uncertainty over U.S. tariffs. Apple (NASDAQ:AAPL) is now expected to see shipments rise about 2.5% in 2025, down from a previous 4% forecast. Samsung's shipments were trimmed to flat growth, versus an earlier 1.7% increase projection. Although tariffs influenced our revisions, we are also factoring in weaker demand across Europe and parts of Asia, said Counterpoint Research Associate Director Liz Lee. U.S. President Donald Trump announced reciprocal tariffs in April, though smartphones and electronics were temporarily exempted. Still, the prospect of levies has weighed on both Apple and Samsung, which rely heavily on the U.S. market. Shipments represent units sent to retailers, not actual sales. Apple has shifted more iPhone production to India, drawing criticism from Trump, who has urged manufacturing to move back to the U.S. Huawei is a standout, with Counterpoint projecting 11% year-on-year shipment growth in 2025. Easing component bottlenecks should help Huawei gain share in mid-to-lower-end segments, added Associate Director Ethan Qi. This article first appeared on GuruFocus. Sign in to access your portfolio
CNBC
2 days ago
- Business
- CNBC
Apple and Samsung smartphone growth to take hit from tariff uncertainty: Counterpoint Research
Forecasts for Apple and Samsung shipment growth this year were sharply slashed by Counterpoint Research on Wednesday amid uncertainty over U.S. tariff policy. The research outfit said it had revised down its 2025 global smartphone shipment growth forecast to 1.9% year-on-year from 4.2% previously, citing "renewed uncertainties surrounding U.S. tariffs." U.S. President Donald Trump announced "reciprocal tariffs" on imports from countries around the world in April, but exempted smartphones and other electronics from those duties days later. Still, with tariff uncertainty looming, Counterpoint Research slashed its growth forecast for the world's two biggest smartphone players. Apple shipments are expected to grow 2.5% year-on-year in 2025, down from a previous forecast of 4%, according to Counterpoint Research. Samsung shipments are now anticipated to see no growth this year, compared with the 1.7% rise that was previously projected. But it is not just tariffs behind these revised forecasts. "All eyes are on Apple and Samsung because of their exposure to the US market. Although tariffs have played a role in our forecast revisions, we are also factoring in weakened demand not just in North America but across Europe and parts of Asia," Counterpoint Research Associate Director Liz Lee said in a press release. Apple's downgraded shipment growth will be driven by the iPhone 16 series of devices, as well as by emerging market customers buying more expensive phones, Counterpoint said. Shipments are not equivalent to sales and represent the number of devices that smartphones vendors send to retailers. They are one measure of the demand that smartphone vendors are expecting. Apple in particular has come under scrutiny amid talk of U.S. tariffs on China, where the U.S. giant makes 90% of its iPhones. Apple has ramped up its shipments to the U.S. from India, where it has been steadily increasing production of its flagship product. But this has also drawn the ire of Trump, who last month said that he doesn't want Apple building iPhones in India, and that they should be manufacturing them in the U.S. Counterpoint Research flagged Huawei as a bright spot in the sea of lowered forecasts, with the Chinese tech giant expected to notch a 11% year-on-year shipment growth in 2025. "We are seeing an easing around sourcing bottlenecks for key components at least through the rest of the year, which should help Huawei grab substantial share in the mid-to-lower-end segments at home," Ethan Qi, associate director at Counterpoint Research, said in a press release. Huawei has seen a rebound in smartphone sales in its home market of China since late 2023, where a breakthrough in semiconductors for its devices, helped revive its fortunes.
Yahoo
3 days ago
- Business
- Yahoo
Mongolian PM resigns after losing parliament backing, street protests
By Liz Lee BEIJING (Reuters) -Mongolia's Prime Minister Luvsannamsrai Oyun-Erdene has stepped down after losing parliamentary support following corruption claims that erupted into street protests last month, the country's parliament said on Tuesday. The parliament of the world's largest landlocked country did not pass a draft resolution on a confidence ballot, meaning Oyun-Erdene was deemed to have resigned, a parliament statement said. "It was an honour to serve my country and people in difficult times, including pandemics, wars, and tariffs," Oyun-Erdene said after the result of the vote was known. Oyun-Erdene, who has been prime minister since January 2021 and was re-elected in July 2024, will remain caretaker prime minister until a successor is named within 30 days. The political upheaval comes after Mongolians last month protested for weeks in the capital Ulaanbaatar alleging corruption involving Oyun-Erdene and his family. Oyun-Erdene did not immediate respond to Reuters' emailed request for comment on his resignation and the corruption allegations. A statement posted on the Mongolian parliament website showed Oyun-Erdene thanking the country's youth for their views on transparency, and citizens for their different perspectives, but said he "regrets that this is used as a political pretext and causing instability". Oyun-Erdene argued he had been steadfast in fighting corruption but had focused too much on large projects instead of social and political issues. The outgoing prime minister had pushed for infrastructure and resource development projects in the mineral-rich country, outlining 14 mega projects including mineral processing centres, water diversion initiatives, dams and power plants.
