BEVs Biggest Losers in Europe Car Sales Slump
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Tesla profits plunge as it grapples with slumping electric vehicle sales
Mounting competition in the stuttering electric vehicle market is taking the juice out of Tesla. The automaker's first-quarter profit plummeted 55% as falling global sales and price cuts sliced into the EV maker's revenue and earnings. The company said Tuesday it made $1.13 billion in profit from January through March, compared with $2.51 billion in the same period a year ago. Revenue was $21.3 billion, down 9% from last year, the company said.Tesla executives blamed the dip partly on EV sales...
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Europe Car Sales Drop in March as EV Weakness Persists
Passenger-car sales in Europe fell 2.8% in March as automakers including Volkswagen AG and Stellantis NV faced weaker demand, particularly for electric vehicles.
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Electric and hybrid car sales to rise to new global record in 2024
International Energy Agency says 17m vehicles will be sold this year, up more than 20% compared with 2023Electric and plug-in hybrid car sales will jump to a new global record in 2024 despite slowing growth in some markets, according to forecasts from the influential International Energy Agency (IEA).The Paris-based forecaster said that 17m battery electric vehicles and plug-in hybrid electric vehicles will be sold in 2024, up more than 20% compared with 2023. Continue reading