- European Union Hits E.V.s From China With Tariffs Up to 38% – New York Times
- Tesla Has a Trade-In Problem. It’s Going to Last a While. – Barrons
- Electric Vehicle Sales Slow – Tesla’s Aging Lineup Among Contributing Factors – Bloomberg
- Toyota Chairman Akio Toyoda flipped a GR Yaris rally car during testing – Autoblog
- Hyundai to launch Inster affordable mini EV – Automotive News
- Chinese-made electric vehicles to be slapped with European Union import tariffs up to 38% – SCMP
- EU trade war with China escalates with 38% tariffs on Chinese EVs – Fortune
- EV startup Fisker to recall 18000 vehicles in latest setback – Reuters
- Infiniti eyes Lexus, Acura customers to rebuild market share – Automotive News
- Tesla Shareholders Don’t Have Musk’s Full Attention. Why $56 Billion Won’t Change That – Barrons
- Ford plans to cut about 1600 jobs at Valencia plant in Spain – Reuters
- Infiniti aims at Lexus, Acura to rebuild luxury market share – Automotive News
- Elon Musk’s $55 billion Tesla payday reckoning is almost here – Businessinsider
- Stellantis’ Tavares to highlight how company will compete in ‘challenging market’ – Freep
- Chinese EV Makers Hit With New EU Tariffs – Businessinsider
- Inside Henrik Fisker’s second failed automotive startup – Businessinsider
- Tesla shareholder sues Musk to return billions in alleged unlawful profits – Reuters
Wednesday Morning Auto News, Jun 12, 2024: EU hits Chinese EV with massive tariffs. Tesla has a trade-in problem. EV sales slow as Tesla line-up gets old. Akio flips his Yaris. More.
GM o.k’s new $6 bln share buyback plan. No freshened Model Y this year. Musk threatens to ban iPhones at home. More.
- General Motors approves new $6 billion share buyback plan – Reuters
- Tesla won’t launch freshened Model Y this year, says CEO Elon Musk – Automotive News
- Musk Threatens to Ban iPhones Over Apple-OpenAI Deal – Businessinsider
- Elon Musk says he will ban Apple devices if it integrates OS with OpenAI – Reuters
- GM launches $6 billion share buyback plan – Automotive News
- Why Musk is tied to Tesla – Axios
- GM board approves new $6 billion share buyback authorization – CNBC
- Skoda appoints Nio designer to shape new minimalist interiors – Autocar
- Tesla’s Driver-Assist Push Lights a Fire Under China’s EV Makers – Bloomberg
- GM Authorizes $6 Billion Buyback as It Books Better EV Profits – Bloomberg
- Revealed: Next-generation Apple CarPlay adds climate control – Autocar
- Aston Martin to raise U.K. workers’ annual pay by 4% – Automotive News
- BYD, NIO, XPeng, Li Auto, Other China EV Stocks Face Further Tariff Hit – Barrons
- Carlos Ghosn’s ex-lawyer says Nissan chief would not have fled if charged in U.S. – Automotive News
- Explainer: What will happen to Tesla CEO Elon Musk’s $56 billion pay package? – Reuters
- Industry scramble for cheaper battery chemistry upends plans – Autocar
- Elon Musk’s Tesla Pay Vote Is Thursday. Stock Options Prices Highlight Investors’ Fear. – Barrons
- BMW, Mercedes, VW, get German OK to buy wireless licenses – Automotive News
Monday Morning Auto News, Jun 10, 2024: Japan gov’t inspects Honda HQ. EU set to disclose tariffs for Chinese EVs. Volvo moves EV production from China to Belgium. More.
- Japan gov’t inspects Honda HQ over improper vehicle certification – Mainichi
- EU set to disclose tariff rates for Chinese electric vehicles – Reuters
- Volvo is moving EV production from China to Belgium as the EU eyes tariffs on Beijing – Fortune
- Tesla investors may vote to give Elon Musk his $56 billion payday – Fortune
- Volvo Car Recalls Its New Electric EX30 Car After Finding Software Glitch – Wall Street Journal
- Focus: Tesla turns to Musk’s small shareholder fans to back $56 billion payday – Reuters
- Elon Musk’s Tesla Pay Deal Is Opposed by Norway’s $1.6 Trillion Wealth Fund – Wall Street Journal
- Tesla (TSLA) Investor Vote on Elon Musk Pay Package Won’t Get Him His Money – Bloomberg
- Lotus Emeya out-charges Porsche Taycan – Autocar
- Elon Musk Enticing Tesla Shareholders With Access to the ‘Muskonomy’ – Businessinsider
- Aston Martin to raise UK workers’ annual pay by 4% – Reuters
- Focus: European nations compete for Chinese EV factories, jobs even as EU weighs tariffs – Reuters
- Maruti Suzuki retakes the top-selling car spot – Top 10 selling cars in India in May 2024 – Businessinsider
- Why supercars are going full Mad Max – FT
- Why Elon Musk’s Delaware fight will rage on even after the Tesla shareholder vote – FT
- Toyota lost over $15 billion in market value last week after being caught falsifying tests – CNBC
- US- China auto partnerships persist despite tariffs, political tensions – The Detroit News
Friday Morning Auto News, Jun 07, 2024: EU, US scared of Chinese EVs: BYD founder. Musk “may step back,” if. Citroen to drop small and large cars. More.
- Europe, US Fearful of Chinese Electric Cars, Says BYD Founder – Bloomberg
- Elon Musk may ‘step back’ if shareholders reject $56bn pay package, Tesla chair warns – Guardian
- Citroen will drop small and large cars to focus on profitability – Autocar
- Gotion High Tech Morocco gigafactory to start production in 2026 – Reuters
- Toyota Mirai’s fuel stack supports hydrogen business expansion – Automotive News
- Volkswagen Says Power Shortages Hinder South African Expansion – Bloomberg
- Tesla upgrades in-car navigation software in China, introduces lane-level guidance – Reuters
- Volkswagen wants to prepare charging business for outside investors – Reuters
- GM EVs at Costco Auto help drive electric vehicle sales – CNBC
- Why China wants South Korea to stay open – Japantimes
- Hino Motors, 2 Others Offer to Sell 2.12m Shares in Nikkon – Bloomberglaw
- GM has a secret to help sell its new EVs. It’s Costco. – CNBC
- UAW President Shawn Fain’s historic first year portends more change – The Detroit News
- Long-Range EVs Now Cost Less Than the Average New Car in the US – Bloomberg
Tesla trounced by that other Shanghai car company as its Germany sales crash in May
What is this picture telling us? Germany’s BEV market has been thoroughly disrupted. Tesla is on its knees begging for sales. Those were down 64% y/y in May, and 41% for the year, data released by Germany’s regulator Kraftfahrt Bundesamt KBA show.
What’s worse, formerly proud Tesla has been trounced by that other Shanghai Auto company, SAIC, which has sold more of its electric MG Roewe 3 in Germany during the month than Tesla’s total. That’s 2,064 MG Roewe 3 vs. 1,896 Teslas. I don’t think we’ll hear Tesla fans crow this month about their best-selling BEV. Germany’s best-selling BEV in May was Volkswagen’s much maligned I3 with 2,383 units, followed by said MG Roewe 3, a BEV most First World folks probably never heard of.