In January, Tesla managed to sell only one electric vehicle in South Korea, marking its worst sales month in the country since July 2022, when it failed to sell any vehicles. The sole vehicle sold was a Tesla Model Y, which had been South Korea's best-selling imported car in September of the previous year.
"Tesla's stock price has been under significant pressure recently, experiencing a sharp decline of approximately 7% during trading hours, contributing to a cumulative drop of 30% since the beginning of the year.
"Tesla Inc. is initiating a recall for 2.2 million vehicles across the United States due to an issue identified with the font size of the warning lights on the vehicle's display, which federal safety regulators have deemed too small to ensure safe driving.
Tesla reported a 14% drop in second-quarter vehicle deliveries on Wednesday, marking its second consecutive year-over-year decline and adding pressure as Chinese rival BYD pulls further ahead in the global electric vehicle race.
Tesla shares tumbled more than 5% Tuesday after President Donald Trump threatened to investigate government subsidies received by Elon Musk's companies, reigniting a public feud between the two billionaires that has spilled into the legislative battle over Trump's multi-trillion-dollar domestic policy bill.
Tesla's vehicle sales in Europe declined for a fifth consecutive month in May, dropping 27.9% year-over-year to 13,863 units, according to data released Wednesday by the European Automobile Manufacturers Association (ACEA). The slide comes amid growing competition from Chinese electric vehicle makers and mounting reputational issues linked to CEO Elon Musk.
Tesla launched its first paid robotaxi service in Austin, Texas, on Sunday, deploying a small fleet of autonomous Model Y vehicles equipped with remote supervision and in-car safety monitors. CEO Elon Musk declared the pilot program live with a post on X, writing: "The @Tesla_AI robotaxi launch begins in Austin [Sunday] afternoon with customers paying a $4.20 flat fee!"
China has begun easing restrictions on rare earth exports for major U.S. and European automakers, offering limited relief to an industry facing mounting production threats from a critical materials bottleneck. The move comes after emergency trade talks in Paris between Chinese Commerce Minister Wang Wentao and EU Trade Commissioner Maros Sefcovic, and as a delegation of U.S. officials prepares for follow-up negotiations in London.
Toyota Motor will take its key affiliate Toyota Industries private in a $33 billion deal, a landmark transaction that unwinds decades of cross-shareholding and strengthens the founding Toyoda family's grip on Japan's most powerful corporate group. The buyout, announced Tuesday, includes a tender offer of ¥16,300 per share, representing an 11% discount to Toyota Industries' closing price before the deal was made public.
Ford Motor Co. is recalling 1,075,299 vehicles in the U.S. due to a software defect that may cause rearview camera images to freeze, delay, or fail to display, increasing the risk of crashes. The recall affects more than a dozen models spanning the 2021 to 2025 model years, including bestsellers like the F-150, Bronco, and Edge.
Xiaomi reported record first-quarter revenue and profit on Tuesday, driven by growth in its smartphone segment and expanding electric vehicle (EV) business, even as it prepares to launch its second electric model, the YU7 SUV, in July.
Tesla's vehicle sales in Europe plunged 49% year-over-year in April, underscoring the mounting challenges the electric automaker faces as it grapples with intensifying competition, factory disruptions, and a deepening backlash over CEO Elon Musk's political entanglements.
A regional court in Braunschweig, Germany, has convicted four former Volkswagen executives of fraud in connection with the "Dieselgate" emissions scandal, nearly a decade after U.S. authorities first uncovered the automaker's use of illegal defeat devices to cheat emissions tests. Two of the former managers received prison sentences while the others were handed suspended terms, concluding a major trial that began in 2021.