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Amid the ongoing geopolitical tension, the <keyword id="19904988" type="General" weightage="20" keywordseo="energy-sector" source="keywords">energy sector</keyword> will continue to face challenge while the <keyword id="20468174" type="General" weightage="20" keywordseo="consumer-goods" source="keywords">consumer goods</keyword>, automotive, healthcare is set to expand in 2025, highlighted a report 'Industry Outlook 2025' by <keyword id="20618515" type="General" weightage="100" keywordseo="Economist-Intelligence-Unit" source="keywords" meta.keywordsubtype="org" meta.entityname="Economist Intelligence Unit" meta.hostid="261" meta.entityid="Economist Intelligence Unit">Economist Intelligence Unit</keyword>. The report noted that the Fossil fuel markets will continue to face risks from geopolitical conflicts, particularly in the Middle East and Ukraine. However, investments in <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> will remain strong, especially in China, as the world pushes toward cleaner and more sustainable energy sources. The report said "Fossil-fuel markets will continue to face <keyword id="20064250" type="General" weightage="20" keywordseo="geopolitical-risks" source="keywords">geopolitical risks</keyword> amid conflicts in the Middle East and Ukraine, but investment into renewables will remain strong, particularly in China." It also added that the financial sector faces a mixed outlook with falling interest rates anticipated to narrow bank profit margins, potentially leading to smaller dividend payouts for shareholders. Yet, regulatory easing could provide relief, with the Basel III endgame likely seeing further delays, softening the impact on banking institutions amid a challenging economic landscape. For the consumer goods and retailing the report added that the Global retail volumes are forecast to grow by 2.2 per cent in 2025, thanks to easing inflation. However, stricter regulations on online retailing will target high-volume, low-price retailers, to ensure fair competition and consumer protection. It said "Global retail volumes will expand by 2.2 per cent, helped by disinflation, but regulations around online retailing will tighten further" As per report, the <keyword id="20359760" type="General" weightage="20" keywordseo="automotive-sector" source="keywords">automotive sector</keyword> is set for a record year, it said "After a difficult few years, annual new-vehicle sales will reach a record 97.2m units in 2025. This includes a 2 per cent rise in new car sales, a 4 per cent increase in commercial vehicle sales, and a significant 16 per cent growth in <keyword id="19963112" type="General" weightage="20" keywordseo="electric-vehicle-sales" source="keywords">electric vehicle sales</keyword>, reflecting the sector's recovery and the shift toward cleaner mobility. In technology the report added more countries will adopt satellite internet, although the primary users will be enterprise clients, including military and maritime sectors. Amazon's Project Kuiper will challenge the existing market dominance of Starlink and EutelSat OneWeb, offering more competition and potential growth in satellite connectivity. The resulting tensions will continue to affect investment into production and market entry, with companies taking advantage of government incentives to build out more flexible supply chains. <keyword id="23684177" type="General" weightage="20" keywordseo="investment-in-technology" source="keywords">Investment in technology</keyword>, particularly artificial intelligence (AI), will also be strong as projects gather pace. However, technology companies will face pressure from several directions as regulations tighten (particularly in Europe), investors become more impatient for profits and their energy usage comes under more scrutiny.

Consumer goods, auto and healthcare sector to expand but energy may face challenge in 2025: Report

<ul class="summary-list"><li>Amazon's sales of cheap items are surging, driven by faster delivery speeds, executive says.</li><li>Amazon's essential product sales are growing 50% faster than other items.</li></ul>The sales of cheaper items are surging on <a target="_blank" class="" href="https://www.businessinsider.com/amazon-ceo-explains-why-he-wants-fewer-managers-hate-bureaucracy-2024-11">Amazon</a>.During a recent internal all-hands meeting, Amazon's retail CEO <a target="_blank" class="" href="https://www.businessinsider.com/profile-of-amazons-new-retail-ceo-doug-herrington-2022-7">Doug Herrington</a> said that the everyday essentials business, which includes health, beauty, and grocery products, is "growing 50% faster than the rest of the store," according to a recording of the event obtained by Business Insider.The growth is primarily driven by faster delivery speeds because people tend to spend more and shop more frequently when orders arrive quickly, Herrington said. Over 50% of those everyday essentials are now delivered on the same or next day, he added."It has really supercharged our grocery and everyday essential business," Herrington said, referring to faster shipping speeds. "And these are especially the low-priced everyday essentials, the things that most households purchase every week."Amazon has been investing heavily to make its warehouse and logistics network more regional. The goal has been to not only speed up deliveries, but also make it less expensive for the company to offer faster delivery.<h2 id="c0dfe482-5c31-44d1-a35d-fdfab5fe3a43">No longer "CRaP"</h2>Lower costs help Amazon offer cheaper products, which often come with thinner profit margins. This is a notable shift from the company's previous strategy of curbing sales of such products. Internally, Amazon used to refer to these products as <a target="_blank" href="https://www.businessinsider.com/amazon-wants-to-stop-selling-unprofitable-items-report-2018-12">"CRaP," or "can't realize a profit,"</a> because they were relatively expensive to ship and less profitable.Amazon's <a target="_blank" class="" href="https://www.businessinsider.com/amazon-andy-jassy-wooed-wall-street-overhauled-bloated-tech-giant-2024-7">record profits</a> in recent years, alongside <a target="_blank" class="" href="https://www.businessinsider.com/amazon-layoffs-10000-employees-grand-challenge-team-dramatic-changes-2022-11">drastic cost cuts</a> and major layoffs, are also contributing to the new approach. The change can potentially help Amazon better compete against Chinese e-commerce upstarts Temu and Shein, which are rapidly growing on the back of cheap items. Shein, for example, is expanding to sell more daily essentials, like toothpaste, skincare, and toys, Reuters reported.Amazon's spokesperson declined to comment.<h2 id="27100129-02ac-43d6-9461-8899978fdf94">'Perfect placement'</h2>During the recent all-hands meeting, Herrington said Amazon deliveries have become faster and cheaper after the company redesigned its network of warehouses to serve smaller regions. Now, Amazon has more warehouses assigned to customers close by, which allows for faster order fulfillment.As a result, Amazon has been able to reduce the "cost to serve" each order for two years in a row, while achieving the fastest delivery speeds for Prime shipments this year, Herrington added."We call that effort perfect placement," Herrington said.In October, Amazon CEO Andy Jassy said the company has been "maniacal" about lowering the cost to serve in recent years. It's a real competitive advantage because now Amazon can afford to sell lower-priced items economically, he said."There's an expression that we've used a lot of times over the years that it's easy to lower prices, but it's much harder to be able to afford to lower prices," Jassy said during a call with analysts.<h2 id="c402255a-a3e2-42e8-8f7f-81912d344b85">'Real positive'</h2>During last month's analyst call, Jassy added that the growth of cheaper items is a "real positive" because it is predicated on faster delivery speeds. He said that this usually leads to growth in customer loyalty, order frequency, and purchase volume."We see the ability to unlock whole new elements of the consumer spend," Jassy said.Brian Olsavsky, Amazon's CFO, added that strong growth in everyday essentials is a positive sign of Amazon becoming a part of consumers' daily shopping habits.Evercore analyst Mark Mahaney wrote in a recent note that the shift is important for Amazon, especially since its most loyal Prime membership base is <a target="_blank" href="https://www.businessinsider.com/amazon-prime-growth-takes-off-again-record-75-americans-use-2024-4">growing at a slower pace</a>."While the growth in those categories represents a negative mix shift in terms of margins, it increases shopper loyalty, shopping frequency and increases the basket size — important if the total Prime HH membership base in the US is maturing," Mahaney wrote.Amazon is doubling down on these efforts. Herrington said in the recent all-hands meeting that Amazon is investing in new warehouse robotics technology that can further improve packaging speed. It's also expanding its rural area network and drone delivery service, he said."The most important part is that customers are loving our faster speeds and we know they're loving it because they're shopping more," Herrington said.Do you work at Amazon? Got a tip?Contact the reporter, Eugene Kim, via the encrypted-messaging apps Signal or Telegram (<a target="_blank" rel="noopener noreferrer nofollow" class="c-link">+1-650-942-3061</a><a target="_blank" rel=" nofollow">) or email (</a><a target="_blank" href="mailto:ekim@businessinsider.com">ekim@businessinsider.com</a><a target="_blank" rel=" nofollow" href="mailto:ekim@businessinsider.com">). Reach out using a non</a>work device. Check out Business Insider's <a target="_blank" rel="" href="https://www.businessinsider.com/insider-guide-to-securely-sharing-whistleblower-information-about-powerful-institutions-2021-10">source guide for other t</a>ips on sharing information securely.

In leaked internal meeting, Amazon retail chief says sales of cheaper items are surging

<ul class="summary-list"><li>Shopify stunned investors after reporting a surprise loss for the first three months of the year.</li><li>The e-commerce platform posted a $273 million loss for the first quarter.</li></ul><a target="_blank" href="https://www.businessinsider.com/shopify-support-reorg-raises-employee-concerns-2024-4">Shopify</a> shares plunged almost 20% on Wednesday after the e-commerce giant sunk into the red for the first three months of the year.The Canadian platform for online merchants posted a $273 million net loss in the first quarter, marking a sharp decline from the $68 million profit for the same period a year ago.The loss came despite revenue jumping 23% year-on-year to $1.9 billion. Shopify also said it expected gross margins to fall by 50 basis points in the second quarter following the sale of its logistics business to supply chain firm Flexport in 2023.The stock was trading at about $62.50, valuing the company at about $80 billion. The plunge wiped about $20 billion off its market cap and wiped out all the gains of the past 12 months.The losses mark a surprise fall for Shopify after last year reclaiming some of the gains it made during the pandemic online shopping after <a target="_blank" href="https://www.businessinsider.com/shopify-stock-growth-after-post-pandemic-slump-2024-4">hitting a low around October 2022.</a>The company has also undergone <a target="_blank" href="https://www.businessinsider.com/shopify-quiet-layoffs-workers-fear-more-cuts-amid-ai-push-2023-7">a number of rounds of layoffs</a>, with a significant 20% cut made to its workforce in May last year.Harley Finkelstein, president of Shopify, told investors on Wednesday that they're "seeing the strongest version of Shopify" in its history while claiming that the goal is to build a "100-year company.""Our outstanding Q1 performance is clear proof of our dedication to the new shape of Shopify, our commitment to operating with a consistent team size, and our focus on building for the long-term to deliver both growth and profitability," he said.

Shopify warns on margins and posts big quarterly loss, sending shares plunging

<keyword id="20163833" type="General" weightage="20" keywordseo="passenger-vehicle" source="keywords">Passenger vehicle</keyword> <keyword id="19957111" type="General" weightage="20" keywordseo="retail-sales" source="keywords">retail sales</keyword> in India witnessed a 7 per cent on-year decline in June as severe <keyword id="19933152" type="General" weightage="20" keywordseo="heatwave" source="keywords">heatwave</keyword> conditions resulted in 15 per cent less showroom walk-ins, industry body <keyword id="20108734" type="General" weightage="20" keywordseo="FADA" source="keywords">FADA</keyword> said on Friday. Overall passenger vehicle registrations stood at 2,81,566 units last month, as compared to 3,02,000 units in June 2023. "Despite improved product availability and substantial discounts aimed at stimulating demand, market sentiment remains subdued due to extreme heat resulting in 15 per cent less walk-ins and delayed monsoons," the Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania said in a statement. Dealer feedback highlights challenges such as low customer inquiries and postponed purchase decisions, he added. Singhania also highlighted that inventory levels of passenger vehicles have reached an all-time high, ranging from 62 to 67 days. With the festive season still some time away, it is crucial for passenger vehicle Original Equipment Manufacturers (OEMs) to exercise caution, he stated. Effective inventory management strategies are essential to mitigate financial strain from high interest costs, Singhania stated. "FADA strongly urges passenger vehicle OEMs to implement prudent inventory control and engage proactively with the market," he added. Two-wheeler registrations rose 5 per cent year-on-year to 13,75,889 units in June. Factors such as extreme heat resulted in 13 per cent less walk-ins by probable customers in showrooms, Singhania said. Stalled monsoon and election-related market slowdowns particularly affected rural sales, which fell from 59.8 per cent in May to 58.6 per cent in June, he added. Commercial vehicle sales dropped 5 per cent to 72,747 units last month, from 76,364 units in June 2023. "The industry continues to face de-growth, impacted by high temperatures affecting the agricultural sector and infrastructural project slowdowns," Singhania stated. Tractor sales last month declined 28 per cent year-on-year to 71,029 units in June. While three-wheeler registrations rose 5 per cent to 94,321 units in June, as compared to 89,743 units in the year-ago month. Overall retail sales rose marginally year-on-year to 18,95,552 units in June. On the business outlook, FADA stated that for two-wheelers, the arrival of the monsoon is expected to provide a boost, although challenges such as agricultural cash flow constraints and regional market variations remain. In the passenger vehicle segment, high inventory levels and ongoing low market sentiment necessitate cautious management, the industry body said. Meanwhile, the commercial vehicle sector looks forward to potential growth driven by renewed infrastructure projects and seasonal demands, despite current slowdowns, it said. "Based on current market conditions, the overall rating for July auto retail performance is cautiously optimistic with a moderate outlook," FADA, which represents over 30,000 dealership outlets, stated. It stated that vehicle registration data for the month was collated from 1,567 out of 1,700 RTOs across the country. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a><a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms" target="_blank">HP Envy x360 14 review – feature-packed laptop with a sleek design</a><a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-razr-50-ultra-flip-phone-launched-in-india-for-99999/slidelist/111504950.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-razr-50-ultra-flip-phone-launched-in-india-for-99999/slidelist/111504950.cms" target="_blank">Motorola Razr 50 Ultra flip phone launched in India for ₹99,999</a>

Passenger vehicle retail sales dip 7% in June as heatwave curtails showroom visits

<keyword id="19895433" type="General" weightage="20" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword> is on the brink again. Sales are slowing even after the company slashed prices. The company is <a target="_blank" href="https://www.businessinsider.com/tesla-layoffs-job-cuts-2024-2">laying off 10% of its workforce</a> — 14,000 workers from Shanghai to San Jose, from the factory floor to the executive suite. The company had to <a target="_blank" href="https://www.businessinsider.com/tesla-recalls-cybertrucks-accelerator-fault-pad-pedal-electric-vehicle-truck-2024-4">recall every single Cybertruck</a> it shipped. And Tesla's position in China, <a target="_blank" href="https://www.businessinsider.com/china-electric-cars-ev-elon-musk-tesla-byd-price-war-2024-4">a country that has become critical</a> to its future, is getting shakier.There's only one person to blame for the company's shambolic state and only one person whose exit could save Tesla: <keyword id="19903807" type="General" weightage="100" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword>. For the past few years, Tesla has looked unstoppable, but during those high times, Musk failed to implement any strategy that would insulate the company from what has become a <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-price-cuts-electric-cars-losing-business-strategy-2023-11">violent global electric-vehicle price war</a>. The company is incinerating cash, losing market share, and holding more aging inventory than ever before.<a target="_blank" href="https://www.businessinsider.com/tesla-stock-tsla-quarterly-earnings-call-report-live-updates-2024-4">Tesla reported its first-quarter earnings</a> on Tuesday and missed expectations across the board, even though Wall Street was already expecting the worst. Earnings per share came in at $0.45, lower than analysts' expectations of $0.52. Free cash flow fell a stunning 674% as Tesla focused on AI research and making capital improvements. Gross profit fell 18% from the same time a year ago, and gross margins fell from 19.3% to 17.4% over the same period. If Tesla the company were a car, this is when you start to hear it make a rattling sound.The company's problem isn't a matter of getting through "<a target="_blank" href="https://www.businessinsider.com/tesla-podcast-workers-model-3-production-hell-sewage-sleeping-floor-2023-8">production hell</a>" or "delivery hell" on a new model, which Tesla has been able to survive. Hell is, at the very least, a location. Tesla's problem is that it has no clear direction. It doesn't matter how much cash a company has on hand if it's blowing it on products that aren't ready to scale — like a robotaxi. Or cars that no one wants — like its dated models.Musk seems to understand at least that much: For years, Tesla has teased the development of the Model 2 — a $25,000 Tesla for the everyman. This is the car the market wants, and a Reuters report from earlier this month that the Model 2 was being scrapped (which Musk denied) sent the stock into a tailspin. Given this clear signal from investors, the company pivoted and announced in its earnings release that it planned to speed up production of "<a target="_blank" href="https://www.businessinsider.com/cheaper-teslas-arriving-sooner-than-planned-2024-4">new and more affordable products</a>" to early 2025. Wall Street ate this up: in spite of the miserable results, Tesla's stock has gained nearly 20% since the earnings announcement and <a target="_blank" href="https://www.businessinsider.com/tesla-investors-cheaper-cars-soon-musk-said-earnings-stock-up-2024-4">analysts were falling over themselves</a> to praise the news. It's like people have never seen this play from Musk before, but anyone who's been following Tesla knows we have.Musk is notorious for delivering so late that <a target="_blank" href="https://www.businessinsider.com/tesla-cybertruck-release-date-delivery-delay-signs-2023-9">any sort of timelines</a> are to be <a target="_blank" href="https://www.businessinsider.com/tesla-roadster">taken with a grain of salt</a>. Even Musk's most loyal shareholders — like Ross Gerber of investment firm Gerber Kawasaki — were dubious. In an interview with Bloomberg on Tuesday after Tesla's report, Gerber said that he "can't rely" on what the company says about timelines anymore. In the company's post-earnings conference call, Musk only mentioned vague plans for speeding up the production process and spent more time talking about his far-off vision for an Uber-like robotaxi fleet."I'd say at least eight to nine years before they get a robotaxi working," Tu Le, the founder of the electric-vehicle consultancy Sino Auto Insights, told me in a recent interview. "I think they'd argue that they already made it. But I'm thinking about the best-case scenario. And I'm being very optimistic.Being late wasn't a problem when Tesla was the only company making good EVs, but that's not the case anymore. Musk does not have eight or nine years to save Tesla, and making vague promises to deliver a new car that the market actually wants — while appealing to Wall Street — does not relieve the pressures the company is facing now. On one side of the world, competitors in China can make <a target="_blank" href="https://www.businessinsider.com/tesla-waging-price-war-against-chinese-rivals-2024-4">cars at a much lower cost</a>. On the other side, <a target="_blank" href="https://www.businessinsider.com/ford-pulling-back-electric-vehicle-production-again-2024-4">legacy automakers</a> are leaning on their combustion-engine and <a target="_blank" href="https://www.businessinsider.com/car-buyer-interest-hybrids-as-electric-vehicle-adoption-slowing-2023-10">hybrid car sales</a> to make it through the <a target="_blank" href="https://www.businessinsider.com/tesla-sales-miss-ev-slowdown-new-wave-customers-2024-4">slowdown in demand for electric cars</a>. If the Chinese market is a rock, then Western markets are a hard place. Tesla is caught in between. The company needs a serious leader with practical ideas — no self-driving gimmicks, no blowtorches, no broken Cybertrucks, no shitposting, no video-game marathons, and <a target="_blank" href="https://www.businessinsider.com/psychedelics-work-microdosing-lsd-psilocybin-ketamine-retreats-elon-musk-2024-3">no casual ketamine use</a>. Basically, no Elon. It needs a singularly focused, ruthlessly productive leader who can deliver the Model 2 — without copious delays.On Tuesday, Musk addressed the recent round of layoffs by saying that Tesla needed to restructure itself for a "new phase of growth." He's right about that, the carmaker does need a major shake-up — starting with him.The future did not have to look this ugly for Tesla. In 2020, the company was on top of the world. Its <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-china-gigafactory-shanghai-fremont-california-factory-2021-10">Shanghai plant started cranking out</a> lower-cost, higher-margin cars. It was <a target="_blank" href="https://www.businessinsider.com/tesla-germany-gigafactory-final-approval-2022-3">building a plant in Germany</a> and <a target="_blank" href="https://www.businessinsider.com/tesla-elon-musk-gigafactory-texas-cyber-rodeo-2022-4">another one in Texas</a>. It <a target="_blank" href="https://www.businessinsider.com/tesla-delivery-record-q2-annual-sales-2021-7">sold more cars</a> than ever before. Consistent annual profits led to a <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-market-cap-500-billion-stock-price-rally-elon-musk-2020-11-1029835478">glorious stock market rally</a>, and Wall Street rejoiced.What did Musk do with those glory days? He <a target="_blank" href="https://markets.businessinsider.com/news/stocks/elon-musk-sell-tesla-stock-buy-twitter-deal-net-worth-2023-4">sold a bunch of his Tesla stock</a> to buy Twitter, tried to <a target="_blank" href="https://www.businessinsider.com/twitter-to-take-elon-musk-court-fight-close-deal-2022-7">get out of the deal</a>, and then was forced to go through with it. He <a target="_blank" href="https://www.businessinsider.com/spacex-starship-launch-rocket-blows-up-explosion-elon-musk-mars-2023-11">blew up some rockets</a> (to be fair, some also made it to space). He <a target="_blank" href="https://www.businessinsider.com/elon-musk-neuralink-monkeys-live-in-paradise-denies-gruesome-deaths-2023-11">implanted a brain chip</a> into a bunch of monkeys. He brought a kitchen sink to work and added a <a target="_blank" href="https://www.businessinsider.com/elon-musk-twitter-tesla-ceo-job-broken-chief-hypocrisy-officer-2022-11">few more CEO jobs to his plate</a>. He publicly bungled Gov. Ron DeSantis' attempt to launch a presidential campaign. At Tesla, Musk delivered about 4,000 Cybertrucks — every one of which has been recalled for faulty acceleration — while frittering away any goodwill the company has with its core customers.What I'm saying is that as much as Tesla accomplished in the past few years, it's clear Musk should've spent more time with it. Tesla failed to craft a strategy for chaotic times in what is still clearly a nascent EV industry. Sure, the company has been on a multiyear campaign to get lean and cut costs, but that strategy isn't enough to balance out price cuts, weak demand, and the need for major capital expenditures to get through this period of fleet stagnation. A true visionary CEO — which Musk has long claimed to be — would have pressed the advantage that Tesla developed in the EV market. They would've done research to try to understand what EV demand would look like after early adopters bought cars. They'd know what kinds of buyers would enter the market at that stage and which kinds of cars those buyers would want. A true visionary CEO would meet those customers where they are. Back in November, I spoke with Navdeep Sodhi, a pricing analyst at Sodhi Pricing Associates, who told me that <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-price-cuts-electric-cars-losing-business-strategy-2023-11">Tesla should advertise</a> to educate the public about the cost benefits of its cars, like savings on gas. Advertising could have also helped assuage concerns about issues like range anxiety. This month, <a target="_blank" href="https://www.businessinsider.com/tesla-new-marketing-team-advertising-cut-layoffs-2024-4">Tesla laid off its entire marketing team</a>.For years analysts warned Musk that competition was coming, not just from legacy automakers but from the very Chinese market that fostered Tesla's success. Beijing has a pattern of supporting Western companies in China's markets in order to foster competition, then, once China-based rivals are able to catch up, tipping the scales in favor of homegrown companies. Add in the fact that Beijing has cornered nearly every aspect of the battery supply chain — from mining and refining metals to manufacturing the batteries themselves — which has helped China's EV makers to churn out models at price points as low as four figures. The new options have put Tesla on the back foot in one of its most important markets: <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-vehicle-model-y-price-cuts-tsla-elon-musk-2024-4">Tesla's share of China's car market shrank</a> to 6.7% in the fourth quarter of 2023 from 10.3% at the beginning of the year.To maintain its lead, Tesla should have been singularly focused on building the Model 2 — moving down the pricing scale to where there were more customers. But it stopped innovating, the Model 2 hasn't materialized, and Musk's realization that the company needs to actually deliver on a Tesla-for-the-people may be coming too late. Instead of boosting sales with an impressive or accessible new option, Tesla has tried to goose demand by <a target="_blank" href="https://www.businessinsider.com/tesla-slashes-prices-suv-cars-self-driving-software-before-earnings-2024-4">erratically lowering the prices</a> of its existing models to increase volume. This has not worked as planned: automotive revenue fell 13% from the same time last year, according to Tuesday's earnings release, and gross margins in the automotive division fell to 14.8% from 18% a year before.Tesla has always been a "growth" company, the up-and-coming player taking on the legacy automakers. But now the company has entered a new stage of development — it's a large, mature firm, and continuing to grow requires larger amounts of capital, discipline, and focus. There was never a moment for Musk to rest on his laurels, but after 2020 Tesla started to look less like a place where Musk was constantly innovating and more like a place where Musk sourced cash to do whatever else he wanted with his life. Maybe he got bored, or maybe he got distracted — either way, Musk stopped pushing the envelope at Tesla way too early.During the conference call, Musk had a million excuses for why this quarter was so poor — Houthi agitation in the Red Sea, an arson in Berlin, updates at the Fremont Factory. He asserted that Tesla was not a car company but rather an AI robotics company. He spoke ad nauseam about turning Tesla into a self-driving Uber service but refused to answer any questions about the Model 2. Look over here. Look over there. Pay no attention to exactly how we're going to deliver his cheaper car. Wall Street has fallen for this before, and it's becoming embarrassing that it has fallen for it again — especially at a time when Tesla and the EV market are in such a different position. The gestures toward actually producing the Model 2 drove a post-earnings stock pop, but given Musk's years of distraction and myriad projects, shareholders should be more concerned that he may fritter away Tesla's resources on something else — whether that's <a target="_blank" href="https://www.businessinsider.com/elon-musk-xai-luring-more-investors-spv-high-fees">an AI that can copy his voice</a>, turning X into a dating app for libertarians, or building another vanity clown car. If the Model 2 doesn't come ASAP, it's tantamount to Tesla waving the white flag in the global EV wars for the foreseeable future. Forget growth — now the company that should have been America's EV juggernaut needs to figure out survival.When Musk entered the EV Thunderdome, Tesla was the only game in town, interest rates were at 0%, and most of the country was convinced he was Iron Man. Since then, China has become an EV power player, legacy automakers have been trying to get a cut of the action, debt has become more expensive, and half the country has started to think Musk is Lex Luthor. Things have changed, and Tesla's leadership needs to change along with them or get left behind.<a target="_blank" rel="" href="https://www.businessinsider.com/author/linette-lopez">Linette Lopez</a> is a senior correspondent at Business Insider.

Elon Musk just set Wall Street up for one of his classic head fakes

<ul><li>Tesla is losing the confidence of Wall Street amid reports it's pivoting from a low-cost Model 2 to robotaxis.</li><li>Deutsche Bank just downgraded Tesla's stock and Barclays cut its price target. Both see double-digit declines over the next year.</li><li>"We view Tesla's shift as thesis-changing, and worry the stock will need to undergo a potentially painful transition in ownership base," Deutsche Bank said.</li></ul>Another day, another negative Tesla note from Wall Street.Tesla has come under intense scrutiny from sell-side analysts after a Reuters report from earlier this month said that <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-crash-weakness-model-y-price-cut-inventory-2024-4?utm_medium=ingest&amp;utm_source=markets">the EV maker was shifting away from its low-cost Model 2 vehicle</a> to instead focus on building a fully-autonomous robotaxi.<h3>Deutsche Bank downgrades Tesla</h3>Deutsche Bank analyst Emmanuel Rosner is not impressed with the potential pivot, calling it "thesis-changing" for investors in a note on Thursday.Rosner downgraded Tesla stock to "Hold" from "Buy" and cut its price target to $123 from $189, suggesting potential downside of about 19% from current levels. "Pushing out Model 2 will create significant earnings and FCF pressure on 2026+ estimates, and make the future of the company tied to Tesla cracking the code on full driverless autonomy, which represents a significant technological, regulatory and operational challenge," Rosner said. Rosner slashed his 2027 earnings per share estimate for Tesla to $2.40 from a prior estimate of $4.25, and added that there could be further downside to the company's earnings power if they completely abandon the development of a low-cost vehicle. "The delay of Model 2 efforts creates the risk of no new vehicle in Tesla's consumer lineup for the foreseeable future, which would put continued downward pressure on its volume and pricing for many more years, requiring downward earnings estimate revisions for 2026+," Rosner said.Tesla stock fell 2% in early Thursday trading, and is down nearly 40% year-to-date. Perhaps the biggest risk to Tesla, aside from lower earnings, is the idea that a pivot to robotaxis could cause a complete recalibration of its underlying shareholder base."We view Tesla's shift as thesis-changing, and worry the stock will need to undergo a potentially painful transition in ownership base, with investors previously focused on Tesla's EV volume and cost advantage potentially throwing in the towel, and eventually replaced by AI/tech investors with considerably longer time horizons," Rosen said.<h3>Barclays cuts Tesla price target</h3>It's not just Deutsche Bank that has soured on Tesla.Barclays <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-target-slashed-barclays-negative-catalyst-q1-earnings-2024-4">slashed its Tesla price target on Wednesday by 20%,</a> and said it expects the company's first-quarter earnings call next week to be a negative catalyst.Calling it "one of the most widely anticipated calls ever," Barclays analyst Dan Levy said the company is facing challenging near-term fundamentals in combination with a longer-term "investment thesis pivot" as it considers moving away from the Model 2.According to Levy, if Tesla is indeed moving away from the Model 2, that would be bad news for the stock valuation going forward, calling it a "clear net negative for the Tesla investment thesis.""It casts significant uncertainty on the path ahead for Tesla, making success of the stock dependent on bets with seemingly binary outcomes," Levy said. "Indeed, we are hard pressed to think of any other precedent of a company of Tesla's size basing its path of success on such binary bets."<h3>Wedbush also concerned about Model 2 pivot</h3>Even long-time Tesla bull Dan Ives is worried about Tesla's potential pivot away from a low-cost Model 2.In <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-rebound-rally-model-2-robotaxi-electric-vehicle-2024-4">a note from last week,</a> Ives said Tesla needs to commit to its Model 2 development plans if it wants to have any chance in reversing this year's painful stock price decline. "If robotaxis is viewed as the 'magic model' to replace Model 2 we would view this as a debacle negative for the Tesla story. It would be a risky gamble if Tesla moved away from the Model 2 and went straight to robotaxis," Ives said.Ives said Wall Street's criticism of Tesla is warranted, especially given the fact that the EV maker has seen declining profit margins and <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-q1-vehicle-delivery-miss-expectations-tsla-musk-2024-4?utm_medium=ingest&amp;utm_source=markets">its first year-over-year sales decline since 2020.</a>"For Musk, this is a fork in the road time to get Tesla through this turbulent period otherwise dark days could be ahead," Ives said.

Wall Street is souring on Tesla's pivot away from low-cost vehicles towards autonomous driving

As the month of August comes to an end, <keyword id="46211" type="General" weightage="20" keywordseo="auto-sales" source="Orion">auto sales</keyword> data has started pouring in, giving us an insight about the performance of major automakers in the country. While Maruti Suzuki has reported its best ever sales in August, Tata Motors and <keyword id="6359783" type="General" weightage="20" keywordseo="bajaj-auto" source="Orion">Bajaj Auto</keyword> have reported a decline in sales. <cmsannotation type="cmsannotation" annotationid="Maruti Suzuki reports highest ever sales" comment="subhead" text="Maruti Suzuki reports highest ever sales">Maruti Suzuki reports highest ever sales</cmsannotation> Maruti Suzuki India on Friday reported its highest-ever monthly wholesales at 1,89,082 units in August on the back of robust sales in the SUV segment. The country's largest carmaker became the leading player in the domestic SUV segment in the April-August period on the back of models like Grand Vitara, Brezza and Jimny. The auto major's overall dispatches to dealers last month were 14 % higher as compared to 1,65,173 units in August. The company previously reported its record monthly sales of 1,82,448 units in October 2020. Total domestic passenger vehicle sales were at 1,56,114 units as against 1,34,166 units in the year-ago month, a growth of 16 %. Utility vehicles, consisting of Brezza, Grand Vitara, Jimny, Ertiga and XL6, clocked sales of 58,746 units last month, over two-fold increase as compared to 26,932 units in August last year. <cmsannotation type="cmsannotation" annotationid="Tata Motors reports a decline in global sales" comment="subhead" text="Tata Motors reports a decline in global sales">Tata Motors reports a decline in global sales</cmsannotation> Tata Motors on Friday reported a marginal decline in total global sales at 78,010 units in August. The company posted total global sales of 78,843 units in August 2022. Total domestic sales were also marginally lower at 76,261 units as against 76,479 units in the year-ago month, Tata Motors said in a regulatory filing. Sales of passenger vehicles, including electric vehicles, in the domestic market were down 3.5 % at 45,513 units last month as against 47,166 units in August 2022, it added. Passenger electric vehicle sales, including in international markets, grew by 54.9 % at 6,236 units as compared to 4,026 units in the year-ago month, the company said. Total commercial vehicle sales were at 32,077 units from 31,492 units in the same month last year, up 1.9 %, it added. <cmsannotation type="cmsannotation" annotationid="Mahindra reports 19% increase in sales" comment="subhead" text="Mahindra reports 19% increase in sales">Mahindra reports 19% increase in sales</cmsannotation> Mahindra &amp; Mahindra (M&amp;M) on Friday said its total automotive sales increased by 19 % to 70,350 units in August. The company's total dispatches to dealers stood at 59,049 units in August 2022. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose by 25 % to 37,270 units last month as against 29,852 units in April last year, the auto major said in a statement. <cmsannotation type="cmsannotation" annotationid="TVS Motor reports growth" comment="subhead" text="TVS Motor reports growth">TVS Motor reports growth</cmsannotation> TVS Motor Company on Friday reported a 4 % growth in total sales at 3,45,848 units in August 2023 as compared to 3,33,787 units in the same month last year. Total two-wheelers sales grew 5 % to 3,32,110 units last month as against 3,15,539 units in the year-ago period, TVS Motor Co said in a regulatory filing. Domestic two-wheelers registered a growth of 7 % at 2,56,619 units as against 2,39,325 units in August 2022, it added. The company said motorcycle sales were lower at 1,53,047 units in August 2023 as against 1,57,118 units in the same month last year, while scooter sales increased to 1,42,502 units from 1,21,866 units in the year-ago month. Electric scooter iQube clocked the highest sales of 23,887 units in August 2023 as against 4,418 units in the corresponding month last year, it added. <cmsannotation type="cmsannotation" annotationid="Bajaj Auto" comment="subhead" text="Bajaj Auto">Bajaj Auto</cmsannotation> Bajaj Auto on Friday said its total vehicle sales, including sale of commercial vehicles, declined 15 % to 3,41,648 units in August. The company had reported total sales of 4,01,595 vehicles in August last year. The total domestic sales dropped 20 % to 2,05,100 units in the previous month as compared to 2,56,755 units sold in August 2022, <keyword id="196995" type="General" weightage="80" keywordseo="bajaj-auto-ltd" source="Orion">Bajaj Auto Ltd</keyword> said in a statement. Total vehicle exports fell 6 % year-on-year to 1,36,548 units in August from 1,44,840 units shipped to the overseas markets in the year-ago period, it said. Its total two-wheeler sales declined 20% to 2,85,031 units in the previous month from 3,55,625 units sold in August 2022. Two-wheeler exports, however, increased 2 % to 1,24,211 units in August 2023 as against 1,21,787 units in the same month last year. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/upcoming-new-cars-in-india-in-september-2023/slidelist/103247552.cms">Tata Nexon to Aston Martin DB12 – Cars launching in India this September</a> <a href="https://www.businessinsider.in/business/auto/webstories/hero-karizma-xmr-210-vs-bajaj-pulsar-rs200-which-bike-should-you-buy-under-2-lakh/slidelist/103241906.cms">Karizma vs Pulsar is back – Comparing the XMR 210 and RS200 in the under ₹2 lakh battle</a> <a href="https://www.businessinsider.in/business/auto/news/existing-car-owners-may-upgrade-if-current-bharat-ncap-ratings-are-low-finds-survey/articleshow/103052481.cms">Safety top priority now for Indian car buyers, existing owners may upgrade if ratings are low</a>

Maruti reports highest ever sales in August, Tata Motors and Bajaj Auto decline

<ul class="summary-list"><li><keyword id="19895433" type="General" weightage="20" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword> slashed prices for its Model 3, S, X, and Y in China by $1,930 each over the weekend.</li><li>The wave of price cuts has come amid declining sales and heightened competition from Chinese rivals.</li></ul><a target="_blank" href="https://www.businessinsider.com/tesla">Tesla</a>, eager to hold on to its market share in China, is amping up its price war against its Chinese rivals amid <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-avoid-ev-sales-slowdown-china-byd-2024-1">declining sales</a>.The electric-vehicle manufacturer <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-slashes-car-prices-in-china-after-us-cuts-1033271272">slashed its prices</a> in multiple markets over the weekend. In China, Tesla has <a target="_blank" href="https://www.wsj.com/business/autos/tesla-li-auto-cut-prices-as-chinas-ev-price-war-heats-up-66872868">reduced the price of its Model 3, S, X, and Y</a> by 14,000 yuan, or about $1,930. The Model Y now costs 249,900 yuan.A similar cut was also applied in the US last Friday, with the Model S, X, and Y being given <a target="_blank" href="https://www.reuters.com/business/autos-transportation/tesla-cuts-us-prices-models-y-x-s-by-2000-2024-04-20/">price cuts of $2,000</a> each. Prices for Tesla's new Cybertruck and Model 3 remain unchanged in the US.Tesla's moves didn't go unnoticed by Chinese automakers, who responded in kind. On Monday, <a target="_blank" href="https://www.scmp.com/business/china-business/article/3259873/teslas-closest-chinese-rival-li-auto-slashes-prices-ev-discount-war-spreads-premium-market">Li Auto introduced price cuts</a> between 18,000 and 30,000 yuan across all its models.The Chinese automaker <a target="_blank" href="https://www.businessinsider.com/how-chinese-automaker-byd-rose-to-challenge-tesla-2024-4">BYD</a> also slashed prices back in March when it launched a cheaper version of its Yuan Plus car. The vehicle was sold at 120,000 yuan and was about <a target="_blank" href="https://www.businessinsider.com/byd-china-ev-price-war-yuan-plus-tesla-elon-musk-2024-3">12% cheaper than its predecessor</a>.Tesla CEO <a target="_blank" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Elon Musk</a> defended his company's pricing strategy on Sunday, <a target="_blank" href="https://twitter.com/elonmusk/status/1782067256194633756">writing on X</a> that "Tesla prices must change frequently in order to match production with demand.""Other cars change prices constantly and often by wide margins via dealer markups and manufacturer/dealer incentives," Musk wrote.The wave of price cuts has come at a tough time for Musk's car company, which <a target="_blank" href="https://www.businessinsider.com/tesla-layoffs-job-cuts-2024-2">laid off more than 10% of its staff</a> globally last week. Musk told staff in an <a target="_blank" href="https://www.businessinsider.com/elon-musk-sent-tesla-employees-email-announcing-layoffs-read-memo-2024-4">internal memo</a> that the layoffs were necessary to keep Tesla "lean, innovative, and hungry for the next growth phase cycle."On April 2, Tesla said it <a target="_blank" href="https://ir.tesla.com/tesla-vehicle-production-deliveries-and-date-financial-results-webcast-first-quarter-2024">delivered 386,810 cars</a> in the first quarter of this year, a 20.1% drop from the last quarter. Tesla's performance in the latest quarter was also its worst quarterly performance since 2022.Besides slowing sales, Tesla has been dealing with increased competition from China.In January, Musk acknowledged the <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-warns-chinese-ev-firms-could-demolish-rivals-2024-1">threat posed by Tesla's Chinese counterparts</a> when he said Chinese automakers were "the most competitive car companies in the world." In fact, Musk went so far as to frame his Chinese rivals as an existential threat to all automakers."If there are no trade barriers established, they will pretty much demolish most other car companies in the world," Musk told investors during an <a target="_blank" href="https://www.businessinsider.com/tesla-stock-earnings-report-q4-call-tsla-price-live-updates-2024-1">earnings call</a> in January.Representatives for Tesla didn't immediately respond to a request for comment from Business Insider sent outside regular business hours.Correction: April 23, 2024 — An earlier version of this story misstated the cost of Tesla's standard Model Y in China before the price cut was announced. The information has been removed.

Tesla is playing a brutal price game of 'how low can you go' with its Chinese EV rivals

<ul><li>Tesla stock continued its deep year-to-date decline Friday as it dealt with an inventory buildup.</li><li>The company implemented price cuts of about $5,000 for some Model Y vehicles this week.</li><li>Separately, a report said Tesla was scrapping its low-cost Model 2 plans.</li></ul><a href="https://markets.businessinsider.com/stocks/tsla-stock?miRedirects=1&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Tesla</a>'s stock decline continued Friday after a report said it was scrapping its plans for a low-cost Model 2 and as it dealt with a sizable inventory buildup, which appears to have led to sharp price cuts on some of its Model Y vehicles.The stock dropped as much as 6% on Friday, extending its weeklong decline to about 8% and its year-to-date decline to about 34%.Reuters, citing three people familiar with the matter as well as internal company messages, reported Tesla canceled plans to develop its long-promised low-cost car that was expected to be just $25,000. Instead of developing a low-priced car, Tesla plans to continue to focus on developing self-driving robo-taxis, the report said. "Elon's directive is to go all in on robo-taxi," a source told Reuters.The reported move comes amid concerns of profit-margin deterioration at Tesla, as well as intensifying competition from low-cost carmakers in China. Tesla CEO Elon Musk <a href="https://twitter.com/elonmusk/status/1776272471324606778" target="_blank" rel="noopener">responded to the report on X</a>, saying: "Reuters is lying (again)." Tesla reported first-quarter vehicle deliveries <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-q1-vehicle-delivery-miss-expectations-tsla-musk-2024-4">of 386,810 last quarter</a>, well below analyst estimates and 46,561 vehicles below its first-quarter production of 433,371, representing the company's biggest-ever stockpile of vehicles, according to Bloomberg.The company appears to be clearing that inventory buildup via aggressive price cuts on its most popular vehicle, the Model Y. As of Friday morning, some Model Y vehicle builds <a href="https://twitter.com/tesla_na/status/1775567648400585210" target="_blank" rel="noopener">were marked down by about $5,000</a>, including the long-range and performance versions.The price cuts on certain Model Y vehicles come just a few days after the company said it would raise the price of its Model Y by $1,000.Weakness in first-quarter vehicle deliveries was attributed by Tesla to a temporary factory shutdown in Berlin, shipping disruptions in the Red Sea, and the early production ramp of the updated Model 3 at its California factory.But Ryan Brinkman, a <a href="https://markets.businessinsider.com/stocks/jpm-stock">JPMorgan</a> analyst, said <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-target-cut-jpmorgan-big-q1-delivery-miss-2024-4">weakening demand for Tesla vehicles was also likely a big contributing factor to the recent sales miss</a>, especially amid intensifying competition from China and the growing allure of hybrid vehicles in America.Brinkman said in a Wednesday note that the difference between vehicle production and deliveries in the first quarter "dispels the notion that 1Q deliveries were somehow supply rather than demand constrained." He lowered his Tesla price target to $115 and warned investors about the company's "demanding valuation.""With 1Q24 deliveries now known to have contracted, we are highly confident both automotive and total company revenue will be negative in 1Q, likely causing even the most bullish investors to take a sentiment check," Brinkman said.

Tesla stock skid continues after company cuts prices on Model Y, reportedly scraps low-cost Model 2

<ul><li>Two-wheelers, three-wheelers, passenger vehicles, tractors and commercial vehicles sales grew 7 %, 75 %, 5 %, 41 %, and 0.5 % in June 2023. </li><li>Two-wheeler market anticipates continued economic pressures and supply challenges, <keyword id="354719" type="General" weightage="20" keywordseo="fada" source="Orion">FADA</keyword> said. </li><li>The PV segment faces inventory pressures and demand-supply mismatches, but the upcoming festive season beginning end-August offers a hopeful outlook, FADA said. </li><li>Delayed and uneven rains may affect the sales of automobiles in rural areas, FADA said, adding it remains cautiously optimistic for the near term. </li></ul> <keyword id="17917534" type="General" weightage="20" keywordseo="automobile-retail-sales-in-june" source="Orion">Automobile retail sales in June</keyword> registered 10 % year-on-year growth, with positive performances seen across all vehicle categories. Data showed two-wheelers, three-wheelers, passenger vehicles, tractors and commercial vehicles sales grew 7 %, 75 %, 5 %, 41 %, and 0.5 %. The Federation of Automobile Dealers Associations (FADA) today released retail sales data for June 2023. "Two-wheeler market anticipates continued economic pressures and supply challenges, while the reduction in FAME subsidies casts a shadow over EV sales," FADA said. The passenger vehicle segment faces inventory pressures and demand-supply mismatches, impacting profitability, but the anticipation of a boost from the upcoming festive season beginning end-August offers a hopeful outlook, FADA said. Erratic monsoons in India raise concerns about yield and potentially impacting automobile sales, especially in rural areas, but the anticipation of evenly spread rains going forward may revive rural demand and thus positively influence retails. "Despite a 10 % YoY growth, the Auto Retail sector has seen an 8 % MoM dip, indicating a short-term deceleration in sales," FADA president Manish Raj Singhania. "In comparison to pre-Covid levels, the overall auto retail marked a marginal decrease of 3 %, with 2W as the sole laggard. Conversely, the CV segment experienced a 1.5 % growth compared to June'19, surpassing the pre-Covid levels for the first time," Singhania said. Further, FADA said June 2023 witnessed the three-wheeler market's robust growth, primarily owing to the previous year's low base effect and positive market sentiment. "The delayed and uneven rains may reduce crop yields, shorten crop cycles and cause a delay in future crop arrivals. Such developments may affect the sales of automobiles, particularly in rural areas where a weak agricultural season could lead to a reduction in disposable income, thus affecting demand for two-wheelers and entry-level cars." However, upcoming rains may potentially boost agricultural prospects, revive rural demand, and positively influence automotive sales. FADA said it remains cautiously optimistic for the near term. (ANI)

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