{
}
Tesla trade-ins have surged to 1.4% of all vehicles, up from 0.4% a year ago, amid growing backlash against Elon Musk's political involvement and concerns over brand loyalty. As sales decline in Europe and stock prices plummet, rival EVs like the BMW i4 and Hyundai Ioniq 5 are capitalizing on this shift in consumer sentiment.
Heathrow Airport is closed due to a fire causing a power failure, while UBS threatens to relocate its headquarters amid capital demand concerns. FedEx and Nike both reported disappointing quarterly results, leading to significant stock declines. In Europe, various companies announced strategic moves, including Alfa Laval's acquisition of Fives group's cryogenics unit for €800 million and Energean's termination of an agreement with Carlyle.
Tesla trade-ins are on track for a record high, with vehicles from model year 2017 or newer making up 1.4% of all trade-ins by mid-March, up from 0.4% last year. This surge is attributed to growing discontent among owners over Elon Musk's government involvement and brand loyalty concerns, potentially benefiting competitors. As used Tesla prices decline, consumer interest in new models has also dropped to its lowest since October 2022, indicating a shift in sentiment that could open doors for legacy automakers and new EV startups.
Tesla, once a pioneer in electric vehicles, now faces significant challenges as its aging model lineup struggles to compete in a rapidly evolving market. With increasing competition from traditional automakers and emerging Chinese brands like BYD, which recently unveiled a faster charging system, the pressure is mounting for innovation and fresh offerings. Elon Musk's dual role as a brand ambassador and political figure has also drawn attention away from the company's core mission.
Saudi Arabia is rapidly advancing its electric vehicle (EV) sector, aiming for 30% of vehicles in Riyadh to be electrified by 2030. With significant investments in infrastructure, local brands like Ceer, and partnerships with global automakers, the Kingdom is positioning itself as a key player in the global automotive market while creating tens of thousands of jobs and fostering innovation. The strategy includes developing a self-sufficient supply chain, enhancing workforce skills, and expanding charging networks through public-private partnerships.
HD Hyundai Co., Ltd.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
tesla trade-ins surge as brand loyalty wanes amid musk's political involvement
18:21 21.03.2025
market turmoil at heathrow and corporate shifts in europe and america
Malaysian Ringgit
British Pound Sterling
United States Dollar
Euro
Norwegian Krone
Curtiss-Wright Corp
General Motors Company
Lockheed Martin Corporation
FedEx Corp
NIKE, Inc.
Boeing Co
Micron Technology, Inc.
Apple Inc.
Tesla, Inc.
HD Hyundai Co., Ltd.
DEU
FRA
ESP
MYS
ITA
GBR
USA
CHE
Show more
08:45 21.03.2025
Tesla trade-ins surge as brand loyalty falters amid Musk controversy
United States Dollar
Tesla, Inc.
HD Hyundai Co., Ltd.
USA
Elon Musk
Kevin Lamarque
Jessica Caldwell
Donald Trump
Rod Nickel
Fred Mckinney
Show more
23:16 20.03.2025
tesla faces mounting challenges amid growing competition and innovation stagnation
Chinese Yuan
United States Dollar
XPeng Inc.
Tesla, Inc.
HD Hyundai Co., Ltd.
NIO Inc.
USA
KOR
CHN
Elon Musk
Steve Jobs
Peter Wells
Stephanie Valdez-streaty
Show more
01:05 20.03.2025
saudi arabia accelerates electric vehicle revolution under vision 2030 initiative
United States Dollar
HD Hyundai Co., Ltd.
Foxconn Technology Co., Ltd.
SAU
Mazin Jameel
Heiko Seitz
Show more
05:11 16.03.2025
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Industry Mergers & Acquisitions
Finance Mergers & Acquisitions
Domestic Politics
Banking Regulations
Global Financial Events
CEO Changes
Government Policies
Retail and Consumer Goods
Workplace Trends
Elections & Campaigns
Market Analysis and Predictions
Central Bank Actions
Global Trade Developments
Startups & Entrepreneurship
Hedge Funds & Private Equity
Banking & Investment Regulations
Corporate Social Responsibility
Countries:
Companies:
Tesla, Inc.
UniCredit S.p.A.
Banco BPM S.p.A.
Deutsche Bank Money Market PP
JPMorgan Chase & Co.
Barclays PLC
Credit Suisse Strategic Income I
Apple Inc.
CREDIT AGRICOLE
SpaceXCoin USD
Lloyds Banking Group plc
BNP Paribas SA
The Goldman Sachs Group, Inc.
Amazon.com, Inc.
UBS Group AG
Credit Agricole
Banco Santander, S.A.
Reinsurance Group of America, Incorporated
Amundi S.A.
Commerzbank AG
Currencies:
United States Dollar
Euro
British Pound Sterling
Swiss Franc
Chinese Yuan
Indian Rupee
Japanese Yen
South Korean Won
Offshore Chinese Yuan
Hong Kong Dollar
Norwegian Krone
Filipino Peso
Canadian Dollar
Singapore Dollar
Australian Dollar
Danish Krone
Swedish Krona
Mexican Peso
Qatari Riyal
South African Rand
People: