Latest news with #NewModelY
Yahoo
26-04-2025
- Automotive
- Yahoo
Tesla defies expectations with major rebound in international sales: 'The ramp of the New Model Y continues to go well'
Tesla China experienced a dramatic sales rebound in March, with wholesale numbers reaching 78,828 vehicles — marking a 156% month-over-month increase from February's 30,688 units, according to Teslarati. This significant jump follows several weeks of reduced production during the rollout of the revamped Model Y electric crossover, based on recent data from the China Passenger Car Association. Despite the impressive monthly growth, Tesla's March figures still represent an 11.49% year-over-year decrease compared to March 2024. The company's first-quarter results totaled 172,754 vehicles wholesale, down 21.79% from the same period last year, largely due to production adjustments required for the new Model Y launch across all four Tesla factories, per Teslarati. Further, Tesla is experiencing some of the worst sales and stock drops the company has seen, as concerns about CEO Elon Musk's political activity have turned some electric vehicle buyers away from the brand. And Tesla is reportedly scrambling to deal with the U.S.-China tariff war that is leading to massive price hikes on many of its vehicles in China, with Carscoops saying the automaker has pulled U.S.-built models over a 125% tariff that makes them "nearly impossible to sell." Overall, though, the sales recovery signals good news for consumers still interested in Tesla's vehicles and EVs in general, as stronger production numbers typically lead to increased availability and potentially more competitive pricing. The popularity of the new Model Y, which became China's best-selling vehicle in March with 43,370 units sold, per Teslarati, demonstrates consumer confidence in Tesla's refreshed lineup. "While the changeover of Model Y lines across all four of our factories led to the loss of several weeks of production in Q1, the ramp of the New Model Y continues to go well," Tesla noted in its recent report, via Teslarati, showing optimism about the vehicle's momentum since beginning domestic deliveries in late February. Tesla's continued growth in China follows other recent news about the company's domestic expansion of its Supercharger network, the introduction of more affordable models, and improvements in battery technology that extend the range of its EVs. These developments can collectively help reduce carbon pollution by making electric vehicles more practical and accessible to a wider audience. Despite the brand's recent challenges, each new Tesla on the road replaces a traditional internal combustion engine vehicle, preventing tons of planet-warming pollution over its lifetime and helping reduce air pollution in densely populated urban areas. Do you think Tesla's vehicles have lost some of their appeal? Definitely No way Some models — but not others For some drivers — but not others Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet. Sign in to access your portfolio
Yahoo
23-04-2025
- Automotive
- Yahoo
Tesla reports 20% drop in automotive revenue in Q1 2025
Tesla has reported a 20% decline in first quarter revenues (Q1) 2025, that ended on 31 March. Total automotive revenues were posted at $13.97bn compared to $17.38bn in the same period a year ago. The US-based automotive company attributed the decline to the necessary upgrades at its four vehicle factories, which are being retooled to manufacture a refreshed version of the Model Y SUV. The switchover of production lines for the New Model Y led to many weeks of lost production. 'During the switchover, we also prepared our factories for the launch of new models later this year. Given economic uncertainty resulting from changing trade policy, more affordable options are as critical as ever,' Tesla said in a statement. Furthermore, the company cited lower average selling prices and increased sales incentives as factors that weighed on both revenue and profit. Net income attributable to common stockholders (GAAP) decreased sharply by 71% to $409m, down from $1.39m, while non-GAAP net income was $934m, a 39% decline from $1.53bn. Overall, Tesla's total revenues fell 9% to $19.33bn in the first quarter of 2025 from $21.30bn in the prior-year quarter. Total gross profit declined 15% year-over-year to $3.15m. Net cash provided by operating activities increased by 791%, jumping from $242m in Q1 2024 to $2.15bn in Q1 2025. Adjusted EBITDA stood at $2.81bn in Q1 2025, a 17% decrease from $3.38bn in the previous year's corresponding quarter. Operating expenses increased 9% to $2.75bn. Income from operations plunged by 66% to $1.17bn. The company's energy generation and storage revenue saw 67% growth to $2.73bn in Q1 2025 from $1.63bn in Q1 2024, while services and other revenue grew 15% to $2.64bn. In a press statement, Tesla said: 'It is difficult to measure the impacts of shifting global trade policy on the automotive and energy supply chains, our cost structure and demand for durable goods and related services. 'While we are making prudent investments that will set up both our vehicle and energy businesses for growth, the rate of growth this year will depend on a variety of factors, including the rate of acceleration of our autonomy efforts, production ramp at our factories and the broader macroeconomic environment. We will revisit our 2025 guidance in our Q2 update.' Tesla is planning to commence production of new vehicles, including more affordable models, in the first half of 2025. The company's global sales fell by 13% year-on-year to 336,681 units in the first quarter of 2025, including a 9% drop in US sales to 128,100 units. Recently, Tesla launched sales operations in Saudi Arabia, opening outlets in the cities of Riyadh, Jeddah and Dammam. "Tesla reports 20% drop in automotive revenue in Q1 2025" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
02-04-2025
- Automotive
- Yahoo
Tesla stock drops as Q1 deliveries miss Wall Street estimates
Tesla (TSLA) reported first quarter global deliveries that widely missed estimates, as demand issues clearly hit the EV-maker. For the quarter, Tesla reported 336,681 deliveries vs. 390,342 estimated, per Bloomberg consensus. Tesla also said it produced 362,615 units globally for the quarter and deployed 10.4 GWh of energy storage products. "While the changeover of Model Y lines across all four of our factories led to the loss of several weeks of production in Q1, the ramp of the New Model Y continues to go well," Tesla said in a statement. The refreshed Model Y went on sale globally in March, with some analysts citing the changeover as a reason for depressed demand for its top selling vehicle. Tesla shares dropped nearly 5% in pre-market trading. Tesla sales have been stalling across most of its global territories. Earlier this week, Tesla registration data in key European regions fell in March, another sign that sales are continuing to slide in one of its key markets. In France, only 3,157 Tesla EVs were registered in the country, down 36.8% from a year ago, per official data cited by Reuters. Norway saw only 2,211 registrations, down 63.9%. Sweden's tally of 911 was only down 1%. Tesla's registrations are a close proxy for sales, which the company only reports quarterly and does not break out by region. Also in Scandinavia, usually a stronghold of EV sales, Denmark's Tesla registrations dropped to 593, down 65.6%, and the Netherlands saw 1,536, a drop of 61% compared to last year. Tesla also said it would report first quarter earnings on Tuesday, April 22nd. This story is developing. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram.
Associated Press
02-04-2025
- Automotive
- Associated Press
Tesla First Quarter 2025 Production, Deliveries & Deployments
AUSTIN, Texas--(BUSINESS WIRE)--Apr 2, 2025-- In the first quarter, we produced over 362,000 vehicles, delivered over 336,000 vehicles and deployed 10.4 GWh of energy storage products. While the changeover of Model Y lines across all four of our factories led to the loss of several weeks of production in Q1, the ramp of the New Model Y continues to go well. Thank you to all our customers, employees, suppliers, shareholders and supporters who helped us achieve these results. Tesla will post its financial results for the first quarter of 2025 after market close on Tuesday, April 22, 2025. At that time, Tesla will issue a brief advisory containing a link to the Q1 2025 update which will be available on Tesla's Investor Relations website. In addition to posting first quarter results, Tesla management will hold a live company update and question and answer webcast that day at 4:30 p.m. Central Time (5:30 p.m. Eastern Time). What: Tesla Q1 2025 Financial Results and Company Update Webcast When: Tuesday, April 22, 2025 Time: 4:30 p.m. Central Time / 5:30 p.m. Eastern Time Q1 2025 Update: Webcast: (live and replay) Approximately two hours after the Company Update, an archived version of the webcast will be available on the Company's website. For additional information, please visit Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Tesla vehicle deliveries and storage deployments represent only two measures of the Company's financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including average selling price, cost of sales, foreign exchange movements and others as to be disclosed in the 10-Q for the quarter ended on March 31, 2025. SOURCE: Tesla Copyright Business Wire 2025. PUB: 04/02/2025 09:08 AM/DISC: 04/02/2025 09:07 AM
Yahoo
25-02-2025
- Automotive
- Yahoo
Tesla Model Y vs Kia EV6: The choice is clear
Kia has made a concerted effort to electrify its lineup, and its EVs have been well-received thus far. The EV6 leads the pack for Kia, rivaling its twin, the Hyundai Ioniq 5. Still, Tesla looms large in the EV space, and all roads lead to - or through - Tesla. The Model Y is the best-selling EV on earth, and for good reason. It set the standard for what a good EV SUV is, and its long range and charging network are massive boons to buyers. But which should you buy?Kia offers eight options for its EV6, with prices starting at $42,600 and scaling to $61,600. The Tesla Model Y keeps things much more straightforward, and its pricing remains competitive. Long Range Rear-Wheel Drive: $44,990 Long Range All-Wheel Drive: $47,990 Performance All-Wheel Drive: $51,490 New Model Y Launch Edition: $59,990 Light RWD: $42,600 Light Long Range RWD: $45,950 Light Long Range AWD: $49,850 Wind RWD: $48,700 Wind AWD: $52,600 GT-Line RWD: $52,900 GT-Line AWD: $57,600 GT AWD: $61,600 Tesla's pricing starts higher, but its top-end pricing is also lower than that of the Kia EV6. We appreciate Tesla's simpler, more straightforward options.A car's appearance, inside and out, matters to buyers. Modern EVs tend to have a minimalist interior, though several car makers are shifting away from that ethos. Similarly, some automakers design EVs that are simple and effective. In contrast, others try to keep their EV options reflective of the brand's longstanding design principles. The Tesla Model Y and Kia EV6 couldn't be further apart here. The Tesla Model Y's interior is clean, minimal, and almost too simple. Many praise its simplicity, but there's a growing disdain for automakers who hide everything behind a screen. The New Model Y has a slightly modified interior, but the overall design is unchanged. Tesla made iterative updates to please its core audience but still chooses to have the most features and settings in the software. Its dash and center console are largely uninterrupted plastic sheets with clean lines. The seats and steering wheel are about as basic as you can get. Inside, the Kia EV6 resembles a traditional car or SUV. Its two dashboard-mounted displays—one behind the steering wheel and the other centrally on the dashboard—are encased in a single large pane. The dash has physical buttons for AC controls, and the steering wheel has cruise control and buttons for functions like volume control. The center console on the Kia EV6 has a dial-based drive mode selector and a power button. Both SUVs have cup holders, armrests with storage, and wireless charging pads in the center console area. The front and rear seats in the Kia EV6 have more personality. We'll stop short of saying they're more comfortable than the Tesla Model Y, but they are New Tesla Model Y also has a few exterior updates, namely a Cybertruck-esque lightbar running across the front. The rear gate also has a light bar running across the back, but other changes are minimal. Overall, the newest Model Y is largely unchanged and looks like any other Tesla, save for the Cybertruck. The Model Y's curves and drop-rear roofline make the vehicle inviting, with a curvy, basic aesthetic that doesn't hint at its powerful underpinnings. The Kia EV6, on the other hand, screams its prowess with its styling. It's a bit more squat, and its aggressively horizontal roofline and sloping hood make it look eager to go fast. Like the Model Y, the EV6 has a light bar racing across its rear end, but that's been part of Kia's design language for a few model years. Around the front, the EV6 sports a lot of linear shaping below the hood and a normalized set of headlights. The curvy hood doesn't blend into the blocky body and roofline as much as we'd like. Still, the car is nonetheless aggressively styled to appeal to a younger buyer. In short, the EV6 is a far more 'standard' crossover, while the Model Y's styling resembles that of a small drivers may have issues with top-end EV6 models, specifically the GT line, which has a moonroof that cuts into headroom. The Model Y has no such issues and has more headroom overall. Both have plenty of overall interior space, but the Model Y's use of glass will make it feel much more spacious. Each vehicle is comfortable, front and rear, so this is a toss-up. The Model Y has a third-row option, but we can only recommend very small children sit back there. Both vehicles also have poor rear and side visibility, leaving you glad they're laced with cameras. Each car also handles well, though the Model Y's stiffer suspension makes it a touch livelier. Let's start with the estimated range for both models: Long Range Rear-Wheel Drive: 337 miles Long Range All-Wheel Drive: 311 miles Performance All-Wheel Drive: 277 miles New Model Y Launch Edition: 327 miles Light RWD: 232 miles Light Long Range RWD: 310 miles Light Long Range AWD: 282 miles Wind RWD: 310 miles Wind AWD: 282 miles GT-Line RWD: 310 miles GT-Line AWD: 252 miles GT AWD: 218 miles The Kia EV6 can charge from 10 to 80 percent in 18 minutes when connected to a 350kW fast charger, which is incredible if you can find an actual fast charger in the wild. Tesla's Superchargers are a class-leading EV charging network. Still, as more vehicles are allowed to access them, they are becoming increasingly busy. Whether charging at home or on the go, we prefer Kia's fast charging capabilities. If you can set this up at home and are okay with popping your EV6 back into the garage on high-mileage days when you're running errands, we recommend it. Those who need to travel long distances, take road trips, or can't charge from home may want to consider the Model Y. It has a slightly better range, and although Superchargers are becoming crowded, they are still availability is suspect, but we think it's worth pursuing. Kia dealers can't always order the car you want and often have to trade with another dealership, but if you find the EV6 you want, jump on it. Dealership service centers can be pretty bad, and Kia's are no exception. Still, having more of them around makes it easier to get your EV6 serviced when something goes wrong. If you're dead-set on a Tesla Model Y, it's not a bad option, but more people will likely prefer the EV6. Love reading Autoblog? 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