Latest news with #car prices
New York Times
33 minutes ago
- Automotive
- New York Times
Tesla Expected to Report Falling Profit as Car Sales Fall
Tesla is expected to report on Wednesday a slump in profit, the third quarterly decline in a row, as the company cut car prices in an attempt to revive sales. Analysts estimate that the company earned $1.2 billion from April to June, according to Bloomberg, down from $1.4 billion a year ago. Sales are expected to have fallen to $22.6 billion from $25.5 billion in the second quarter of 2024. Tesla has not reported an increase in quarterly profit since the third quarter of 2024. Tesla's weak earnings are likely to reinforce concern among some investors that Elon Musk is neglecting the car business while he focuses the company's resources on autonomous driving software, self-driving taxis and humanoid robots. Mr. Musk has said those technologies will make Tesla the most valuable company in the world. Tesla has begun testing a limited self-driving taxi service in Austin, Texas. Wall Street has largely bought into that vision, and the company's share price is up around 50 percent since early April. But such taxis and robots are not yet generating significant revenue for Tesla, and the company remains reliant on the car business to finance Mr. Musk's futuristic plans. Tesla's sales have been losing momentum because it is not offering more affordable and appealing new models even as other carmakers like BYD of China have rolled out many new vehicles while slashing prices. In addition, Mr. Musk's support for right-wing political causes has alienated many electric car buyers in Europe and the United States and has distracted him from running the company. Last month, he announced plans to form a new political party in the United States after his relationship with President Trump deteriorated. Want all of The Times? Subscribe.
Bloomberg
4 days ago
- Automotive
- Bloomberg
Charting the Global Economy: Tariffs Trickling to US Consumers
The latest report on US inflation was the clearest sign yet that tariffs are starting to boost costs of commonly imported consumer goods, while a decline in car prices kept overall inflation in check. It's the last readout of inflation before Federal Reserve officials meet at the end of this month. Policymakers are still divided as to whether tariffs will cause a one-time hit to prices or an enduring inflationary risk.
Yahoo
16-07-2025
- Automotive
- Yahoo
Tariq: Fed Waiting For Tariffs to Fully Kick In
Underlying US inflation rose in June by less than expected for a fifth month, as lower car prices helped offset gains in other goods exposed to tariffs. Ayesha Tariq, Macrovisor's Co-Founder spoke to Bloomberg's Horizons Middle East and Africa anchor Joumanna Bercetche about the Fed's path ahead. 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
Bloomberg
16-07-2025
- Automotive
- Bloomberg
Tariq: Fed Waiting For Tariffs to Fully Kick In
Underlying US inflation rose in June by less than expected for a fifth month, as lower car prices helped offset gains in other goods exposed to tariffs. Ayesha Tariq, Macrovisor's Co-Founder spoke to Bloomberg's Horizons Middle East and Africa anchor Joumanna Bercetche about the Fed's path ahead. (Source: Bloomberg)
