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Tata Motors dominates the EV car market in December with Tiago leading the charge

<ul class="summary-list"><li>Companies from United to Nestlé have talked about a sales slowdown due to the presidential election.</li><li>Experts say some shoppers are holding back until after November 5 — but not everyone.</li></ul>Companies are bracing for people to shop, travel, and drink less around <a target="_blank" class="" href="https://www.businessinsider.com/what-is-going-on-with-economy-jobs-inflation-election-voting-2024-10">Election Day</a>.Executives at some major brands have said on earnings calls in recent weeks that they expect their <a target="_blank" class="" href="https://www.businessinsider.com/election-impact-companies-trump-harris-2024-10">financial results to take a hit</a> around the time voters will decide between Vice President Kamala Harris and former President Donald Trump. They range from Constellation Brands, the maker of Modelo, which expects fewer people to go out drinking around the election, to airlines like United and Delta, which often see passenger counts dip around Election Day.Some companies already have seen political news distract customers. When a gunman died after injuring Trump at a rally in Butler, Pennsylvania in July, for instance, Amazon saw some people put off making purchases on the website, CFO Brian Olsavsky said in August."A lot of times, purchases will defer and people will come back and buy what they were going to buy," Olsavsky said on a call with reporters. "And other times — that won't happen."Other companies have invoked the election but not provided details about the dynamics leading consumers to pull back. Anna Manz, CFO of Nestlé, said on the company's earnings call last week that it's facing a slowdown in the US and "concerns around the elections are playing out." Nestlé did not immediately respond to a request for more details from Business Insider.Research suggests that some consumers — though not all — do indeed reduce purchases around the event.Some shoppers are holding off on making purchases until after November 5, according to a September survey of 400 Kroger shoppers by 84.51, the grocer's marketing subsidiary. Eighteen percent of those surveyed said they were holding off on buying big-ticket items such as electronics or appliances. Slightly smaller percentages said they were holding off on an investment decision or buying a car.Consumers might be holding off on big purchases because they need loans and hope that interest rates will fall more in the months after the election, said Alex Trott, director of insights at 84.51. But some might not actually care as much about the election as the seasonal promotions that tend to follow in November and December, she added. "We are also bumping up against a holiday season where there are always sales," Trott said.People under 34 were also more likely than older consumers to put off a major financial commitment until after the election, 84.51 found.Older consumers, such as Baby Boomers and members of Gen X, "can make some of these bigger decisions," said Trott. "Younger people don't have that spending power. They are sensitive to these smaller price changes."Most people — 53%, according to 84.51 — said they weren't delaying any big purchases as a result.This US election is taking place after years of inflation have squeezed consumers. <a target="_blank" class="" href="https://www.businessinsider.com/pennsylvania-grocery-store-voters-talk-economy-inflation-harris-trump-2024-10">The economy is a top concern</a>, voters told BI this week. Deutsche Bank said <a target="_blank" class="" href="https://www.businessinsider.com/sticky-inflation-outlook-risk-cpi-fed-rate-cuts-geopolitics-recession-2024-10">inflation will remain stickier than expected</a>.Many companies are also forecasting that demand will return after either Trump or Harris wins the election. Modelo maker Constellation, for instance, said it expects beer demand to pick up again.Ron Hill, a professor at American University's Kogod School of Business, said consumers' retreat could last longer if determining who won takes weeks.Polls show that the <a target="_blank" class="" href="https://www.businessinsider.com/harris-trump-presidential-election-swing-state-polls-sun-belt-2024-10">race between Trump and Harris</a> is close to a toss-up just over a week ahead of Election Day. If the race comes down to a single evenly divided state, as it did in 2000, when it took five weeks beyond election day to determine that George W. Bush had won the White House, shoppers might spend more time focused on that news and less time making discretionary purchases, Hill said."That's going to be hell to pay" if that happens, he said.

Election Day stress is affecting some companies' sales

<ul class="summary-list"><li>Electric cars have hit a major speed bump in Europe.</li><li>According to industry data, EV sales fell 44% in August as demand cooled across the continent.</li></ul>Europe is facing plunging sales of electric vehicles — and the continent's struggles are a warning sign for the US.Registrations fell by nearly 44% in August compared with the same month last year, according to the European Automobile Manufacturers' Association. The slump was driven by a 69% decline in Germany, Europe's biggest car market and economy.The cooling demand has led to questions over whether European automakers can meet the European Union's ambitious climate goals, which require all new cars to be zero-emission by 2035.It's also put pressure on EV companies and their suppliers. One of Europe's key battery manufacturers, Northvolt, announced on Monday <a target="_blank" class="" href="https://www.businessinsider.com/northvolt-european-battery-startup-cutting-jobs-sweden-ev-tesla-2024-9">it will lay off 1,600 employees</a> and scale back its expansion plans to focus on existing customers.<h2 id="03606594-0832-457a-a25e-b3bc29e8114e">EVs hit a speed bump</h2>Europe's EV industry is suffering from a complex mixture of challenges, auto industry analysts told Business Insider.In Germany, home to a massive Tesla gigafactory and a famous automotive tradition, demand has been hit by a government decision to phase out subsidies for EVs in December 2023.William Roberts, automotive research lead at battery consultancy Rho Motion, described the decision to pull the country's EV subsidies with barely a week's notice as a "shock removal" that, coupled with <a target="_blank" class="" href="https://www.businessinsider.com/us-vs-china-economy-europe-global-decoupling-wall-street-markets-2024-">weak economic conditions,</a> has severely dented consumer sentiment in Germany and the rest of the EU.A lack of affordable electric vehicles has not helped the situation. Although EU customers do have access to some EVs that are <a target="_blank" class="" href="https://www.businessinsider.com/chinese-electric-cars-you-can-buy-in-europe-not-us-2024-9">not available in the US,</a> Roberts said most still fall into the premium category.Dylan Khoo, an analyst at technology intelligence firm ABI Research, told BI: "There are only a handful of models that you could really say are mass market, and even those are quite a bit more expensive than their gasoline counterparts."The lack of affordable models is unlikely to be helped by the EU's proposed tariffs on China-made EVs, which include a <a target="_blank" class="" href="https://ec.europa.eu/commission/presscorner/detail/en/ip_24_4301">17% tariff on BYD vehicles and 9% on Teslas</a> imported from China.Roberts said that's probably not great news for drivers. "If the consumer is just looking for the cheapest possible EV, then at the moment, that would probably be satisfied by an imported Chinese vehicle."<h2 id="f811f30f-e910-4869-9a83-5e59c6307df5">Supply chain struggles</h2>Europe has also faced difficulties in developing its EV supply chain, with many <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-09-11/vw-s-german-factory-closures-highlight-wider-problems-for-europe-s-carmakers">factories left with under capacity</a> and startups such as Northvolt struggling after the demand slowdown hit their ambitious expansion plans."I think for Northvolt there was a sense of over-optimism and over-ambitiousness, when you compare their plans to where some of the manufacturers are," Khoo said.Roberts said Europe has suffered from a patchwork attempt to encourage EV demand and build out its supply chain."The EU is not a federal government like the US — they can't blanket provide huge incentives and subsidies and have every country take them up," he said."So the supply chain is always going to be a bit more fragmented, and that's going to lead to difficulties when you're all trying to move towards one target as a bloc."<h2 id="62b2ae38-d830-442a-bdde-324e3689eed4">A warning for the US</h2>The struggles faced by Europe provide a warning sign to the US, which lags behind its cross-Atlantic neighbor in EV adoption.Electric cars accounted for 25% of new vehicle sales in Europe last year, compared to just 10% in the US, <a target="_blank" class="" href="https://www.iea.org/reports/global-ev-outlook-2024/trends-in-electric-cars">according to IEA data</a>.Like Europe, few affordable EV models are on sale in the US, which experts have suggested has <a target="_blank" class="" href="https://www.businessinsider.com/electrc-vehicle-demand-problem-affordability-expense-price-cost-2023-10">contributed to a slowdown in demand</a> in recent months.Key EV factories and infrastructure have also been delayed as automakers rethink their EV plans and shift focus to hybrids. Ford is halting production of a new electric pickup at a planned factory in Tennessee, and GM is delaying an EV battery plant in Indiana.<a target="_blank" class="" href="https://www.businessinsider.com/what-trump-presidential-victory-could-mean-for-evs-tesla-musk-2024-7">Consumers face concerns over subsidies with the election</a> looming, too.Trump and his running mate, JD Vance, have cast doubt over whether the $7,500 tax credit for purchasing a new EV, introduced by Joe Biden's Inflation Reduction Act, will continue if they win the presidential election in November.The prospect of crucial subsidies being suddenly removed, as in Germany, could have an equally chilling effect on America's EV industry. However, Roberts said while the US will likely face its own pressures down the line, it has a significant supply chain advantage over the EU."There's a lot more funding available," he said. "If that's used correctly to build out the supply chain, then that can have a much more positive impact than in Europe, where the funding for the supply chain has been a lot more reliant on just the private sector."Still, "I'd argue the US is still in an early adopter phase when it comes to EVs. You'd be silly to not take these warning signs from anyone further ahead of you in the curve," he added.

EV sales in Europe hit a speed bump — and the US should be worried too

<ul><li>Shares of <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> surged almost 4% on Monday as the automaker has now become the second largest car seller in India.</li><li>Tata Motors has surpassed <keyword id="596" type="General" weightage="20" keywordseo="hyundai" source="Orion">Hyundai</keyword> in terms of sales growth in December.</li><li>It is also the highest ever monthly sales for the Mumbai-based car manufacturer in December 2021.</li></ul>Tata Motors’ shares are on a high on the first day of trading this year, with its share price rising as much as 4% on excitement of the company achieving the tag of the ‘second largest car maker in the country’ beating Hyundai. The Mumbai-based company has surpassed Hyundai, who was the second largest auto seller until now, in terms of car sales in December. With the likes of Nexon, Tiago, Tigor and Harrier and several others, the automaker has recorded the highest ever monthly sales in December. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Car manufacturers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Domestic December sales 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year-on-Year % change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,53,149 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors (PV) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35,299 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyundai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32,312 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-32% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra &amp; Mahindra (CV + PV + 3-wheeler) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">36,140 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Toyota </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10,832 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">45% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Honda </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,973 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,797 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-34% </td></tr></tbody><tbody></tbody></table>Note: CVs are commercial vehicles and PVs are passenger vehicles. However, the South Korean car maker Hyundai is still ahead of Tata Motors if we add the sales of both Hyundai and <keyword id="6372046" type="General" weightage="20" keywordseo="kia" source="Orion">Kia</keyword>, which is also owned by Hyundai. The car maker managed to sell a higher number of cars despite witnessing a shortfall in production due to the ongoing semiconductor crisis. “The ever-increasing demand for Nexon EV and Tigor EV as well as progressive revival of the EV [electric vehicles] fleet segment were instrumental in driving this steep growth,” said Shailesh Chandra, president of passenger vehicles business unit at Tata Motors in an exchange filing. <div type="image" title="tata motor" height="900" width="1200" msid="88660301" hostid="261"></div>Good demand on the newly launched Tata Punch also helped the company boost its overall sales. “The overwhelming market response to Tata Punch launched in October 2021 is further boosting demand for the company’s “New Forever” range of cars and SUVs [sports utility vehicles],” added Chandra. Not to forget, the company’s booming electric vehicle business, which is adding to the excitement around electric cars. The company recorded a new sales peak of 5,592 units of electric vehicles in the third quarter of FY22, which is a growth of 345% year-on-year. However, the excitement around the rising sales may not remain long as the company admits it is cautious as the semiconductor shortage continues along with rising covid cases. “Going forward, we expect the situation to remain fluid as the semiconductor shortage continues, instances of COVID begin to rise and underlying demand continues to remain under pressure,” said Girish Wagh, executive director at Tata Motors in an exchange filing. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/mamaearths-revenue-neared-500-crore-by-selling-its-personal-care-products-in-fy2021/articleshow/88658722.cms">Mamaearth says it has turned profitable as revenue neared ₹500 crore last year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-motors-maruti-suzuki-future-retail-and-other-hot-stocks-on-the-first-trading-day-of-2022/slidelist/88657164.cms">Tata Motors, Maruti Suzuki, Future Retail and other hot stocks on the first trading day of 2022</a>

Tata Motors’ stock at nearly two-month high after selling more cars than Hyundai in December

<ul class="summary-list"><li>Isaac French and his family transformed a 1900s train car into a profitable, unique Airbnb.</li><li>The train car, found in Deary, Idaho, was purchased for $3,000 and cost $148,000 to restore.</li></ul>This as-told-to essay is based on a conversation with Isaac French, a 27-year-old who, along with his siblings, helped his father restore and renovate a 1900s train car near where they live in Deary, Idaho. After nearly 6 months of restoration, they turned it into a profitable Airbnb.Insider has verified the property's earnings and purchase price. The following has been edited for length and clarity.One day my dad got a call from one of our neighbors. We were good friends with him, and he needed help shoveling the roof of his barn. This was December of 2019.So my dad went over there, and as soon as he was done shoveling, he looked under and there's this old train car.It was almost unrecognizable as a train car. There were about 20 cats living in it, and it was almost unbearable to go near. The windows were boarded over, just creepy and rotted out. I probably would've just thought, "Oh, this thing needs to be burned."<div type="image" title="image of the outside of old rotted wooden train car" height="3024" width="4032" msid="112968583" hostid="261" sizebytes="1361934"></div>But being the train enthusiast and the visionary that my dad is, he offered to buy it."Look, I'll take this off your hands because it's not doing you any good and I love trains," he said. "We'll figure something out,"My dad bought it for $3,000.He found some of the original markings in the paint, which were almost all gone. Local train buffs did some digging in the archives, and sure enough, they found the picture of this exact car the day it was built in 1906.It's a super difficult process to move a 61-foot train car that is in really rough shape. It's like January, early February of 2020 — it's so muddy and snowy.It cost us $10,000, and we had to use semis and bulldozers to get it up the final hill. But at a certain point, we just couldn't go any further, so that became the resting place where it sits today.<div type="image" title="image of the detail of the old train car and rotted wood" height="975" width="1200" msid="112968585" hostid="261" sizebytes="211712"></div>It's just such an ideal spot because it's on the top of this little hill looking out at this incredible little panorama of pristine Idaho countryside. You're just looking straight out at these rolling hills and canyons and trees. And it would've been very similar to the view that you would've seen from the railroad track, which is only a few miles away.Then COVID-19 started — but turning this car into an Airbnb became a perfect outdoors project.The first order of operations was to build a new enclosure. It wasn't built to be out in the middle of a field in the elements. Plus, we wanted it to have a little porch. So my older brother John built this really cool timber frame structure around it, which we designed, that resembles the roof line of an original train depot.<div type="image" title="image of train car being restored under new enclosure" height="3024" width="4032" msid="112968592" hostid="261" sizebytes="962948"></div>The restoration really was just a process of carefully sanding, stripping down inside and out all of the surface area — the floors, siding, interior paneling — and obviously trying to save everything we could. I would say 95% of the car is original.Once we got past that first quarter inch of grime, it was good wood inside. We just sanded everything down super carefully and then refinished it. The flooring to paneling, all of that is original. And then, we found original paint colors for the lime green color of the ceiling.This is a combination car — it was used as a passenger car, a US mail car, and a cargo car.<div type="image" title="image of bathroom inside renovated train car" height="1710" width="1358" msid="112968587" hostid="261" sizebytes="153548"></div>We used the mail compartment as a bedroom, the cargo compartment for the bathroom and entryway, and the passenger compartment as the lounge living area and kitchenette.My mom is super talented with interior design. She's very into this gilded age, antique style. And so she found a lot of the pieces, like old chests, drawers, chairs and such from antique shops and estate sales.Then we worked with a friend of ours to do a custom copper light fixture to match pictures of the original car.We spent $151,000 all-in, including the $3,000 for the car, and it took us about six months to finish.<div type="image" title="image of living area and loungre inside renovated train car" height="4032" width="3024" msid="112968589" hostid="261" sizebytes="407182"></div><h2 id="d004c104-d963-4be3-89c8-cc4b3ef16234">Airbnb success</h2>Then this thing blew up when we launched on Airbnb.We booked up 90% occupancy the first year, and this quickly became one of the most unique and profitable stays. It paid for itself in 18 months.The tricky thing is this is in the middle of nowhere, it's really off the beaten path. People have to intentionally carve out time, book a trip, and travel a long ways to come experience it.That's part of the reason we price it at around $325 a night. That seems like a lot, but based on the occupancy and the demand, I think it's pretty reasonable. We could technically raise the prices, but we don't plan to.<div type="image" title="image of the outside of the restored train car and its porch" height="1355" width="2304" msid="112968579" hostid="261" sizebytes="420270"></div>We want as many people as possible to come and experience it because there are so many people who are passionate about these restoration projects and specifically about trains.So much of our history as a nation has to do with trains, yet their impact is under-appreciated. And as technology and transportation has evolved, trains have by and large been left in the dustbin of history.My dad had this incredible belief and conviction that this car could be redeemed. And because of that, we all rallied behind it. And sure enough, it happened.But to see it come from such a decrepit and seemingly unredeemable condition and become this fresh, full of life, incredibly vibrant experience … It's just, in every sense, invigorating. Going to that car, walking through it, you can't help but feel energy in your veins and a sense of what it would've felt like back in the day to be on this same car.This thing was dead, and now it has new life.For more photos and information about the Deary train car, you can <a target="_blank" class="" href="https://affiliate.insider.com?h=e123b03ca66fa29bff91da8c02b72795642826ea578453de5dfe4e9e934b9668&amp;postID=66d0acbdd5e42862f034676e&amp;postSlug=restoration-train-car-airbnb-profitable-idaho-2024-8&amp;site=bi&amp;u=https%3A%2F%2Fwww.airbnb.com%2Frooms%2F44613554%3Fadults%3D1%26children%3D0%26enable_m3_private_room%3Dtrue%26infants%3D0%26pets%3D0%26search_mode%3Dregular_search%26check_in%3D2024-08-12%26check_out%3D2024-08-17%26source_impression_id%3Dp3_1723612079_P3yGxqETcGkj4SKr%26previous_page_section_name%3D1000%26federated_search_id%3D395406bc-e72e-4599-bc77-639bb9dad003">view the listing on Airbnb here</a>. You can also <a target="_blank" class="" href="https://www.isaacjfrench.com/">follow French's newsletter</a> to learn more about <a target="_blank" class="" href="https://www.businessinsider.com/starting-successful-tiny-house-airbnb-business-tips-2023-1">his other renovations</a> and hospitality experiences.

I restored a 1900s train car with my dad and turned it into an Airbnb. Now it's paid for itself.

<keyword id="42747" type="General" weightage="100" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> on Friday reported 1.73 per cent decline in overall global sales at 74,172 units in November 2023 as compared to 75,478 units in the same month last year. Total domestic sales were at 72,647 units last month as compared to 73,467 units in November 2022, down 1 per cent, <keyword id="8555" type="General" weightage="20" keywordseo="tata" source="Orion">Tata</keyword> Motors said in a regulatory filing. Overall sales of passenger vehicles (PV), including electric vehicles (EV) were at 46,143 units as against 46,425 units in the year-ago month, down 1 per cent, it added. In the domestic market, PV sales, including EVs were marginally higher at 46,068 units last month as compared to 46,037 units in November 2022. Sales of passenger EVs, including in the domestic market, stood at 4,761 units as against 4,451 units in the year-ago month, up 7 per cent, the company said. Tata Motors said its total commercial vehicles (CV) sales in November 2023 were at 28,029 units as compared to 29,053 units in the same month last year, down 4 per cent. Domestic CV sales were lower by 3 per cent at 26,579 units as compared to 27,430 units in the year-ago month, it added. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-december-2023/slidelist/105645843.cms">From Tata Punch EV to Lamborghini Revuelto, cars set to launch in India in December</a> <a href="https://www.businessinsider.in/business/auto/news/car-and-suv-prices-set-to-rise-in-january-2024-should-you-buy-one-in-december/articleshow/105556415.cms">Car prices set to rise in January – Should you buy one in December?</a> <a href="https://www.businessinsider.in/tech/news/indias-pc-market-surges-to-4-5-million-devices-in-q3-2023/articleshow/105285251.cms">India’s PC market shipments surge in Q3 amidst import restrictions talks</a>

Tata Motors total sales down 1.73% at 74,172 units in Nov

New Delhi, <keyword id="6357096" type="General" weightage="20" keywordseo="mahindra-mahindra" source="Orion">Mahindra &amp; Mahindra</keyword> on Friday said its total wholesales increased by 21 per cent year on year to 70,576 units in November. The Mumbai-based automaker had dispatched 58,303 units in November 2022. Utility vehicle dispatches stood at 39,981 units last month, an increase of 32 per cent over 30,238 units in the year-ago period, <keyword id="45224" type="General" weightage="20" keywordseo="mahindra" source="Orion">Mahindra</keyword> &amp; Mahindra (M&amp;M) said in a statement. Exports, however, declined 42 per cent last month to 1,816 units as compared to 3,122 units in November 2022. "We continue our growth trend, backed by strong demand for our SUV portfolio...While we saw a healthy festive season, we faced supply challenges on select parts during the month. We are keeping a close watch and taking appropriate steps to mitigate the challenges," M&amp;M President Automotive Division Veejay Nakra said. M&amp;M said its tractor wholesales stood at 32,074 units in November as compared to 30,528 units in the year-ago period. Exports, however, declined to 1,005 units last month from 1,348 units in November 2022. "The festive season saw high demand pull in the domestic market, supported by Kharif harvest realisations, with retails being strong during Dhanteras and Diwali," M&amp;M President-Farm Equipment Sector Hemant Sikka said. Terms of trade continue to be favourable for farmers, while rural spending by the government and progress in rabi sowing are the factors to watch out for, he added. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-december-2023/slidelist/105645843.cms">From Tata Punch EV to Lamborghini Revuelto, cars set to launch in India in December</a> <a href="https://www.businessinsider.in/business/auto/news/car-and-suv-prices-set-to-rise-in-january-2024-should-you-buy-one-in-december/articleshow/105556415.cms">Car prices set to rise in January – Should you buy one in December?</a> <a href="https://www.businessinsider.in/tech/news/indias-pc-market-surges-to-4-5-million-devices-in-q3-2023/articleshow/105285251.cms">India’s PC market shipments surge in Q3 amidst import restrictions talks</a>

Mahindra sales rise 21% to 70,576 units in November

The risky allure of WiFi Money: private jets, sports cars, and ruined investors

<ul class="summary-list"><li>For months, the EV industry has sensed a slowdown taking shape.</li><li>While EV sales are continuing to grow, they are doing so at a slower pace, research shows.</li></ul><a target="_blank" href="https://www.businessinsider.com/tesla">Tesla</a> just confirmed the market for electric vehicles really is slowing down.<a target="_blank" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> warned a slowdown in sales growth was coming when Tesla reported earnings on Wednesday. Or, as the EV maker tried to dress it up to investors, the company is now "between two major growth waves."Tesla had some pluses to report, churning out almost 500,000 vehicles in the September to December period. <a target="_blank" href="https://ir.tesla.com/press-release/tesla-vehicle-production-deliveries-and-date-financial-results-webcast-fourth-quarter-2023">Vehicle deliveries last year jumped 38%</a> to 1.81 million.But that wasn't enough to stop the warnings.<a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-elon-musk-fourth-quarter-earnings-cybertruck-evs-2024-1">Revenue growth slowed</a>, up 3% to $25.2 billion after years of breakneck expansion.Now, the outlook appears to be dimmer amid flailing demand. Tesla embarked on an aggressive price-cutting strategy in 2023 that reduced the prices of everything from the Model 3 to the popular <a target="_blank" href="https://www.reuters.com/business/autos-transportation/tesla-price-cuts-delivery-plan-ceo-pay-focus-ahead-results-2024-01-22/">Model Y by more than 25%</a> to spur interest.Investors did not like what Tesla had to say, pushing its share price down more than 10% on Thursday, wiping more than $50 billion off its value.<div type="image" title="People inspect a Tesla Model Y car." height="3004" width="4500" msid="107154022" hostid="261"></div>But against a backdrop of sharply higher inflation and interest rates, focus has been increasingly directed towards <a target="_blank" href="https://www.businessinsider.com/tesla-new-affordable-model-details-elon-musk-teases-after-cybertruck-2023-12">a cheaper mass-market EV</a> from Tesla. One problem: it's not likely to arrive anytime soon.The "next-generation" sub-$25,000 vehicle will enter production in the second half of 2025, Musk said. That's <a target="_blank" href="https://www.businessinsider.com/tesla-battery-day-elon-musk-promises-25000-autonomous-electric-ev-2020-9">several years after it was first touted</a> — and reminiscent of the four-year gap between the Cybertruck being announced, and actually being delivered.Meanwhile, competition from <a target="_blank" href="https://www.businessinsider.com/china-byd-tesla-electric-car-ev-race-2023-11">China's BYD</a> has become a major threat. The Warren Buffett-backed EV maker, which sells its vehicles in more than 60 countries and recently overtook Tesla on global EV sales, put an early focus on affordable models such as the $10,000 Seagull.<div type="image" title="BYD Seagull" height="1668" width="2500" msid="107154024" hostid="261"></div>Chinese automakers pose such a threat that they could "pretty much demolish most other car companies in the world," Musk claimed, "if there are no trade barriers established."Taken together, it explains why <a target="_blank" href="https://www.businessinsider.com/tesla-price-range-cost">Tesla</a> explicitly said sales growth would be "notably lower" this year – making it just the latest car maker to confront the wider slowdown in the developed world.Although a record 1.2 million EVs were sold in the US last year, <a target="_blank" href="https://www.coxautoinc.com/market-insights/q4-2023-ev-sales/">per data from industry research firm Kelley Blue Book</a>, a slowdown beyond Tesla is very real.EV sales surged 40% year-on-year in the last three months of 2023 —a "strong result by any measure," as the industry research noted. However, it's lower than both the 49% rise in the third quarter, and 52% increase in the last three months of 2022.Aran Waid, senior analyst at Benchmark Mineral Intelligence, said growth in EV sales globally was continuing but that it had "fallen short of automaker expectations.""High inflation and interest rates have also impacted sales last year, particularly in Europe, while individual countries have also been reducing financial incentives," he said.Growth is happening then, but at an increasingly slower pace in a phenomenon that's hitting pure-play EV companies like Tesla, as well as traditional automakers.Ford, for example, said this month that it's <a target="_blank" href="https://www.businessinsider.com/ford-cuts-electric-f-150-lightning-production-affecting-jobs-2024-1">cutting production of its F-150 Lighting truck</a> due to poor sales.<div type="image" title="Ford F-150 Lightning" height="1645" width="2500" msid="107154025" hostid="261"></div>General Motors, meanwhile, said in October it was <a target="_blank" href="https://www.businessinsider.com/auto-executives-coming-clean-evs-arent-working-2023-10">scrapping a target to produce 400,000 EVs by mid-2024</a>. CEO Mary Barra said the company was "adjusting to slowing near-term growth."Perhaps the clearest sign came when car rental company Hertz announced that it was selling some 20,000 EVs, citing higher repair costs as an issue.Tesla does have some advantages in the slowdown. As my colleague Nora Naughton notes, it can afford to keep cutting prices thanks to <a target="_blank" href="https://www.businessinsider.com/how-tesla-can-afford-prices-cuts-cost-of-goods-chart-2024-1#:~:text=This%20chart%20shows%20how%20Tesla,stay%20ahead%20of%20the%20competition&amp;text=Tesla%20keeps%20lowering%20the%20price,stay%20ahead%20of%20the%20competition.">cost savings it gets from manufacturing.</a>There are plenty of markets too that Tesla can target for rapid growth in the future, such as Japan. "We should at least have a market share proportionate to, say, other non-Japanese carmakers like Mercedes or BMW, which we do not currently have," <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-01-24/elon-musk-wants-tesla-to-be-big-or-bigger-in-japan?leadSource=uverify%20wall">Musk said Wednesday.</a>Selling more cars in a country like Japan won't come easy. Part of the challenge, Musk said, lies in a "lack of awareness" about Tesla in a nation very well served by its own automakers, such as Toyota, Honda, Suzuki, and Nissan.Meanwhile, the challenge of getting its mass-market vehicles on the road next year is likely to be monumental. As Musk said: "We really need the engineers to be <a target="_blank" href="https://www.businessinsider.com/elon-musk-warns-tesla-workers-challenging-production-mass-market-ev-2024-1">living on the line</a>."

Not even Tesla can dodge the EV sales slowdown

Footwear major <keyword id="19980586" type="General" weightage="80" keywordseo="bata-india" source="keywords">Bata India</keyword> has received a notice from the <keyword id="19980587" type="General" weightage="50" keywordseo="state-tax-officer" source="keywords">State Tax Officer</keyword>, Anna Salai Assessment Circle, Chennai, amounting to Rs 60.56 crore, the company said in a filing to the bourses on Thursday. The notice dated December 27, 2023, pertains to several issues raised in a final audit report on December 25, for the 2018-19 financial year, according to the filing. The issues raised include differences in turnover on outward supplies in the monthly GST returns, differences in tax on outward supplies in the GSTR-9 &amp; GSTR-9C returns, excess <keyword id="19980589" type="General" weightage="50" keywordseo="input-tax-credit" source="keywords">Input Tax Credit</keyword> (<keyword id="19896958" type="General" weightage="80" keywordseo="itc" source="keywords">ITC</keyword>) availed, and <keyword id="19980588" type="General" weightage="50" keywordseo="itc-reversal" source="keywords">ITC Reversal</keyword> on credit note. The company said it initially received an audit notice on April 27, 2023, and submitted relevant documents in response. Bata India was given a personal hearing on January 10, 2024, to present its case and provide further information on the disputed issues, as per the filing. The company expressed confidence in its ability to defend the case before the authorities concerned. "It is believed that the company has a good case to defend the matters without any material financial impact," Bata India said. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/new-electric-scooter-simple-dot-one-comparison-with-ola-s1-pro-electric-scooter/slidelist/106343351.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/new-electric-scooter-simple-dot-one-comparison-with-ola-s1-pro-electric-scooter/slidelist/106343351.cms" target="_blank">Simple Dot One vs Ola S1 Pro – price, range and features compared</a><a href="https://www.businessinsider.in/business/auto/news/popular-luxury-cars-in-india-in-2023/slidelist/106325299.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/popular-luxury-cars-in-india-in-2023/slidelist/106325299.cms" target="_blank">Mercedes-AMG SL 55 Roadster to Volvo C40 Recharge – The most popular luxury cars in India this year</a><a href="https://www.businessinsider.in/tech/mobile/news/iqoo-12-vs-oneplus-11-vs-samsung-galaxy-s23-the-battle-of-the-affordable-flagships/articleshow/106200031.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/iqoo-12-vs-oneplus-11-vs-samsung-galaxy-s23-the-battle-of-the-affordable-flagships/articleshow/106200031.cms" target="_blank">iQOO 12 vs OnePlus 11 vs Samsung Galaxy S23 – the battle of the affordable flagships</a>

Bata India gets ₹60 crore sales tax notice

<ul class="summary-list"><li>Andrew Lambrecht decided to sell his 2016 <keyword id="12682321" type="UNKNOWN" weightage="60" keywordseo="chevrolet-volt" source="Orion">Chevrolet Volt</keyword> last year when the used-car market was hot.</li><li>He sold it for $20,338 via Vroom in December. He'd originally bought it for $15,000.</li></ul>Today, purchasing a car for a reasonable price is nearly impossible. Whether you're paying basically the original sticker price for a several-year-old vehicle or facing <a href="https://www.businessinsider.com/new-car-prices-above-msrp-dealer-markups-2022-3">ridiculous markups</a> on new cars at dealerships, it's apparent that times have changed for prospective car buyers.However, one person's loss can be another's gain, and if you time the market right, you can make a substantial profit. I did precisely that — and there's still time for you to do the same.In September 2020, I purchased a used 2016 Chevrolet Volt plug-in hybrid for $15,000. Its original MSRP was $40,280, so it had lost nearly 63% of its value by the time I'd bought it. Most used cars <a href="https://www.nerdwallet.com/article/insurance/car-depreciation">lose around 60%</a> of their value within five years of ownership in a normal market, so the Volt stayed in line with the average.Based on its depreciation rate, I planned to keep it for around a year or two and expected to list it for about $10,000 to 12,000. But things went way better than expected.<h2>Watching the market for opportunities</h2><div type="image" title="Andrew Lambrecht’s 2016 Chevrolet Volt" height="3024" width="4032" msid="91795836" hostid="261"></div>During the first two years of the pandemic, used-car prices spiked intermittently and then stayed there — making the <a href="https://www.cargurus.com/Cars/price-trends/">timeline of prices</a> look more like a set of stairs than a gradual upward slope. Yet my Volt's online trade-in value hovered around a cool $12,000 in the winter of 2021. To track its values, I used both <a href="https://www.vroom.com/sell">Vroom</a> and <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.carvana.com%2Fsell-my-car">Carvana</a>'s online trade-in tools. These two websites give you an offer instantly, so you don't have to wait at a dealership for an appraisal or anything like that. Out of all the online car-buying websites, I've found that these two offer the most competitive values, with <a href="https://www.carmax.com/sell-my-car">CarMax</a> usually offering me less. As the pandemic went on, prices climbed even more. When times became uncertain for many Americans in summer 2020, <a href="https://www.thedrive.com/news/34563/new-car-sales-were-abysmal-in-q2-but-summer-looks-even-murkier">demand for new vehicles dropped</a>. Earlier the same year when China went into lockdown, <a href="https://www.bloomberg.com/news/articles/2022-04-18/china-s-chip-output-shrinks-as-lockdowns-hurt-production">its semiconductor output shrunk</a>. These chips are a big deal — they power everything from the infotainment system to semi-automated driving features such as adaptive cruise control or lane-keep assist.But in 2021, <keyword id="12466988" type="UNKNOWN" weightage="60" keywordseo="car-sales" source="Orion">car sales</keyword> began to increase again — <a href="https://www.businessinsider.com/electric-cars-2022-models-market-tesla-ford-gm-lucid-rivian-2021-12">especially in the EV space</a> — but there just weren't enough semiconductors for these new cars. While the vehicles rolling off the assembly line were essentially complete, they were just missing a chip.Many automakers couldn't keep up with the demand, so buyers had to revert to purchasing used cars due to low dealership inventory. Pair this with inflation, and used-car buyers were in for massive price hikes.Current vehicle owners, meanwhile, were in for an unprecedented opportunity: selling their cars at a net gain, a feat only very few vehicles could achieve in the past. <h2>Making the sale</h2><div type="image" title="Andrew Lambrecht's white 2016 Chevrolet Volt." height="2130" width="2841" msid="91795838" hostid="261"></div>Last spring, I began noticing an uptick in my Volt's trade-in values. In mid-March 2021, Carvana offered me $14,643 for my Volt, which was very close to its value when I purchased it. I wanted to trade it in for a more recent <keyword id="12476268" type="UNKNOWN" weightage="60" keywordseo="bmw" source="Orion">BMW</keyword> i3 electric hatchback, but I decided to hold on and see how much further it would go. What I'd soon find out is that as I was holding off trading in, BMW i3 values were increasing just as steadily, so it was essentially a non-zero-sum game. In late April, Carvana presented a $15,083 offer for my car. This was the first time I'd ever received an amount more than what I'd bought it for. I was tempted to take the cash and run, but once again I decided to wait it out.Over the summer, its value just kept increasing. By September, Carvana's $15,000 turned to $16,432. While my desire to flip it for a profit proliferated, I decided to hold it out longer. In late December, its Carvana value began declining, but its Vroom value suddenly increased dramatically. Several days after Christmas, Vroom offered an unmatched value of $20,338. I quickly accepted it. A few days later, a contractor picked up my Volt on a flatbed, and within a week, Vroom mailed me the check. While I could've probably sold it on my own for a bit more, this process was seamless and easy. Disregarding taxes and upkeep costs, which were around $800, I made $5,338 on my original purchase price.<h2>On to the next ride</h2><div type="image" title="The Mini Cooper SE" height="1500" width="1999" msid="91795839" hostid="261"></div>Since I sold my car when values were high, it would make sense that I would have to pay more for my next vehicle, too. While I really wanted to purchase a BMW i3, I wasn't looking to pay north of $25,000 for a four-year-old car. However, one car I'd had my eye on was the <keyword id="14029808" type="UNKNOWN" weightage="60" keywordseo="mini-cooper" source="Orion">Mini Cooper</keyword> SE — an electric two-door with an advertised 114 miles of range. BMW owns Mini and the Cooper SE shares many of its components with the BMW i3, its German cousin. Most importantly, a brand new Mini Cooper SE with the $7,500 federal EV tax credit costs about the same price as a used BMW i3. For me, it would have been bonkers to buy a used BMW i3 when I could get a brand new electric Mini Cooper for practically the same price. The 2023 Mini Cooper SE starts at $34,750. However, at select Mini dealerships, like my local center in Charlotte, you can special order the base "Signature" trim for $30,750. It's missing some features like premium audio, a sunroof, and some paint options, but for me, it's worth the $4,000 in savings. It also qualified for the $7,500 federal tax credit, but note: You need to pay at least $7,500 in taxes to reap its full benefits. My local Mini center charged an extra $1,396 in dealership fees, totaling the out-the-door price to $33,065, including taxes and state registration. Factoring in the tax credit, my 2023 Mini Cooper effectively costs $25,565.I put the $250 deposit down on the Mini, so hopefully it'll arrive this summer. With an opportunity like this, it's best to make the most of it, and the electric Cooper was the most financially sound way to exploit the market. Everyone's situations are different, but if you're looking to trade up your current vehicle, it's worth a look to see how much you can get.

You Searched For "car sales december" and got 11 results

Tata Motors dominates the EV car market in December with Tiago leading the charge

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Election Day stress is affecting some companies' sales

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EV sales in Europe hit a speed bump — and the US should be worried too

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Tata Motors’ stock at nearly two-month high after selling more cars than Hyundai in December

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I restored a 1900s train car with my dad and turned it into an Airbnb. Now it's paid for itself.

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Tata Motors total sales down 1.73% at 74,172 units in Nov

PTI

Mahindra sales rise 21% to 70,576 units in November

PTI

The risky allure of WiFi Money: private jets, sports cars, and ruined investors

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Not even Tesla can dodge the EV sales slowdown

Hasan Chowdhury

Bata India gets ₹60 crore sales tax notice

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I sold my used car for a $5,000 profit on Vroom. Here's how I watched the market to get the best deal.

Andrew Lambrecht

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