Latest news with #salesdrop
Bloomberg
3 days ago
- Business
- Bloomberg
Ola Electric Plunges as Losses More Than Double Amid Sales Drop
Ola Electric Mobility Ltd. declined the most in more than a month, after reporting quarterly losses that more than doubled from a year ago as sales dropped. The shares declined as much as 9.7%, the most intraday since April 7. Net loss was at 8.7 billion rupees ($102 million) in the quarter ended March 31, compared with 4.16 billion rupees a year ago, the company said in a statement Thursday.
Daily Mail
5 days ago
- Automotive
- Daily Mail
Tesla sales plunge in Europe amid backlash against boss Elon Musk's role in the Trump administration
Tesla sales plunged in Europe last month amid a growing backlash against Elon Musk's role in Donald Trump's administration. The electric car maker, run by Musk, sold 7,261 cars in April – down 49 per cent year-on-year, according to the European Automobile Manufacturers' Association. This was despite overall electric car sales rising 34.1 per cent. The trend has been widely attributed to a boycott by consumers who are angry at Musk's role spearheading a 'department of government efficiency' for the US President. And the fallout has been felt in the UK too, with the firm selling just 512 vehicles in April – the lowest level in more than two years, according to figures published by the Society of Motor Manufacturers and Traders this month. Musk has claimed that while Tesla has lost sales 'on the Left', it has gained on the Right. Protesters have targeted Tesla cars, factories and offices in several countries – with dealerships set on fire or spray-painted and cars vandalised. Russ Mould, of broker AJ Bell, said the drop 'suggests the brand damage caused by Musk's political interventions may be lasting.' And China's BYD – dubbed the 'Tesla killer' – has overtaken Musk's car firm as the world's biggest producer of electric vehicles.
Yahoo
10-05-2025
- Business
- Yahoo
McDonald's sees its biggest sales drop since the pandemic as customers fearful of economy pull back on spending
McDonald's has reported its biggest sales drop since the pandemic as customers in the U.S. are concerned about the economy and are pulling back on spending. The fast food chain's U.S. sales shrank 3.6 percent, the worst drop since the second quarter of 2020, as the company acknowledged customers are 'grappling with uncertainty.' 'McDonald's has a 70-year legacy of innovation, leadership, and proven agility, all of which give us confidence in our ability to navigate even the toughest of market conditions and gain market share,' McDonald's CEO Chris Kempczinski said in a statement. The restaurant's sales at locations that have been open for at least a year fell 1 percent globally in the January-March period. Wall Street had been expecting an increase of nearly 2 percent, according to analysts polled by FactSet. The fast-food giant has dealt with customers being more selective in their spending. In recent months, the company has made changes to try and lure customers back with deals and offers. McDonald's has responded by expanding its U.S. value menu, which lets customers buy one item for $1 when they buy a full-priced item. It's also offering its $5 Meal Deal through this summer. That deal was introduced last June and extended several times. But Thursday's results suggest that the affordable menu hasn't gone far enough to help ease the anxiety of consumers against the backdrop of a global trade war, Bloomberg reported. The results come as President Donald Trump marked 100 days in office this week, during which time he has overseen a turbulent economy because of his trade tariffs. Trump addressed the shaky economy at a cabinet meeting Wednesday and acknowledged that his tariffs could result in fewer and costlier products in the U.S. 'Well, maybe the children will have two dolls instead of 30 dolls. So maybe the two dolls will cost a couple bucks more than they would normally,' Trump said. The president, who is fond of the fast food chain, hit McDonald's on the campaign trail last year, where he served fries at the drive-thru. AP contributed
