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Tesla finally has to deal with the EV slowdown. The EV company can't rely on hybrids and gas cars like competitors. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Both Ford and GM exceeded analyst expectations for the first quarter thanks to cost cutting and stronger demand for gas-powered cars. But the tables have turned now as traditional automakers are able to tap into a newly popular segment unoccupied by Tesla: hybrids.
Persons: Tesla, Musk, , Elon, Mary Barra, Barra, ruffle Musk Organizations: EV, Service, Ford, GM Locations: North America
AdvertisementBusiness Insider spoke with seven Fisker Ocean owners who shared their anxieties about what will happen to their cars if Fisker is no more. AdvertisementSome Fisker owners said they are already struggling to get service and parts. Three Fisker ocean owners described instances where the vehicle was bricked for days after their 12-volt battery died. What Fisker's failure would mean for its competitorsIf Fisker files for bankruptcy, there are likely to be ripple effects for other EV startups, Fiorani said. "If Fiskers start falling off the side of the road in the next few months because there's no one to update them, that's going to put fear into a lot of electric vehicle owners — not just Fisker owners," Fiorani said.
Persons: , Henrik Fisker teeters, Sam Fiorani, Kurt Mechling, Mechling, Fisker, Chris Salvo, Salvo, Henrik Fisker, Mario Anzuoni, Fiorani, Patrick Burrell, Tesla Organizations: Service, Business, AutoForecast Solutions, BI, Reuters, EV Locations: California
I worked at Sephora for 11 years, so I have a few favorite products that cost $20 or less. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAs someone who worked at Sephora for 11 years, I'm often asked which products are worth buying — but also won't break the bank. Luckily, Sephora carries plenty of high-quality items that cost $20 or less. This story is available exclusively to Business Insider subscribers.
Persons: Jart, , I'm Organizations: Service, Business Locations: Sephora
Screenshot of used Tesla listing from Hertz Car Sales website. Hertz Car SalesIt's a screaming deal for shoppers in the market for a used Tesla or any budget-minded EV shopper, a demographic slowly making up most of the electric car market. AdvertisementMileage and battery usageA used Tesla that has been in a rental fleet is likely to used much more frequently than one that's been personally owned. You can see that in the difference in mileage when you look on Kelley Blue Book for a used Model 3. Screenshot of a used Tesla Model 3 listing on KBB Business InsiderAnother $20,125 Model 3 we found on the Hertz website in January, a 2021 model, was listed with 92,789 miles.
Persons: , Hertz, Kelley, Tesla, iSeeCars Organizations: Service, Hertz, Business, Tesla, KBB, EV, quicken Locations: Southeast Michigan
The Tesla CEO keeps it cool and keeps investors on his side. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Tesla quelled weeks of investor angst with Musk's word on two important future products: a long-awaited affordable model and the eventual activation of a self-driving ride-hailing fleet. This story is available exclusively to Business Insider subscribers.
Persons: Elon Musk, Musk's, , Tesla Organizations: Elon, Service, Business
Tesla is blaming hybrids for stealing EV sales. Inexpensive hybrid cars have become a popular choice for green-car shoppers. That's a real problem for Tesla, which doesn't sell hybrids. In the opening page of its first-quarter earnings presentation Tuesday, Tesla blamed an industry-wide prioritization of these partially battery-powered cars for putting pressure on global EV sales and — by extension — Tesla's sales. After years of wealthy early adopters clamoring for expensive new technology, today's EV shopper is more frugal and practical — and more interested in hybrid models that fit their everyday needs.
Persons: Tesla, , Elon Musk's Tesla, Tesla's Organizations: Service, Toyota, Musk's EV
Tesla hasn't said when it would launch a ride-hailing service. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla on Tuesday released more details about its planned launch of an Uber-like ride-hailing service. The service would live inside the Tesla app, which Tesla owners can already use for almost all vehicle functionality, the company said. Tesla CEO Elon Musk announced earlier in April that the company would reveal a long-awaited robotaxi in August.
Persons: Tesla, Elon, Tesla hasn't, , Elon Musk Organizations: Elon Musk's, Service
The United Auto Workers union won a critical vote at a plant in Tenessee. The union's white whale is Tesla, workers of which have never been represented by a union. The warm-up for TeslaConquering the South is just a warm-up for the big event for the UAW: Organizing Tesla. Tesla has never held a union vote at any of its US facilities. Many Tesla workers already make more per hour than their unionized counterparts.
Persons: aren't, , Shawn Fain, Fain, Tesla, Elon Musk, Elon Organizations: United Auto Workers, Service, UAW, National Labor Relations Board, Reuters, unionizing, Detroit, Volkswagen, Mercedes, Tesla, Organizing, New York Times Locations: Tenessee, Tennessee, Chattanooga, Detroit, Alabama, Sweden
john magaroYeah I mean, that’s a lot of what they ate. I mean, I think it’s about love and lost love and misconnections and eating. I think that’s — you know, I think that’s great advice for a relationship. john magaroYeah, but it feels — but, you know, that’s what Arthur is doing. anna martinI mean, I — and I don’t know if, you know —john magaroAs I say, aigoo.
Persons: anna martin, ” I’m Anna Martin, , anna martin I, anna martin I’m, John Magaro, John, Celine Song, Andrew ”, Sarah Pepitone, I’ll, anna martin You, Cookie, Lewis, Clark, anna martin That, anna martin Really, you’re, we’ve, anna martin Wow, anna martin John, let’s, Andrew, I’d, we’d, Angelika, syrupy, New York Times ”, He’d, hadn’t, Toro, he’d, We’d, sashimi, anna martin It’s, anna martin That’s, Sarah, anna martin Right, I’ve, you’ve, you’ll, it’s, anna martin Me, — anna martin That’s, anna martin Poof, they’re, she’s, — anna martin Right, that’s, anna martin There’s, won’t, I’m, anna martin Just, anna martin No, It’s, Arthur, Nora, Greta Lee, Arthur can’t, Hae, Hae Sung, anna martin Huh, She wasn’t, you’d, anna martin Wait, anna martin Yes, You’re, anna martin Aigoo, he’ll, we’re, anna martin What’s Organizations: The New York Times, NYU, New York Times, Bushwick, magaro, vey, Netflix Locations: Paisanos, Brooklyn, Oregon, West, Philadelphia, New York, Korean, There’s, Nora, Korea, Canada, America, Pittsburgh
EV shoppers want more choices than Tesla. This is the latest sign that the EV slowdown is catching up to Elon Musk. Well over half of the EV shoppers surveyed by UBS in an annual study said they would prefer to buy an electric car from a legacy carmaker over a new manufacturer such as Tesla. On top of that, the bank found that the likelihood a US shopper would buy an EV increased with brands other than Tesla. This story is available exclusively to Business Insider subscribers.
Persons: Elon Musk, Organizations: Service, EV, UBS, Business
Tesla can't outrun the EV slowdown
  + stars: | 2024-04-02 | by ( Nora Naughton | ) www.businessinsider.com   time to read: +3 min
AdvertisementElectric-vehicle leader Tesla is finally starting to feel the pinch of a slowdown in EV sales that is already rocking the rest of the industry. This rough quarter is the first sign that the EV leader is not immune to a slowdown in electric vehicle sales that has dogged its competitors since the latter half of 2023. Related storiesSo far, Tesla has largely been able to keep up with a changing demographic of electric vehicle shoppers by flexing its hefty profit margins to lower prices. Is Tesla ready for the next wave of EV buyers? For the newest electric car shoppers in the market, simply lowering prices may not be enough to win them over.
Persons: , Tesla, Elon, Deutsche Bank's Emmanuel Rosner Organizations: EV, Service, Boston Consulting Group, Deutsche
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla delivered fewer cars to customers in the first three months of 2024 than Wall Street expected, it said Tuesday, marking the company's first year-over-year sales drop in nearly four years. It's also the first year-over-year decline in quarterly deliveries since 2020, as well as the company's lowest quarterly performance since 2022. Over the past year, Tesla has cut the prices of its cars significantly, hurting its profits in pursuit of sales. During an earnings call last year, Musk said that Tesla could theoretically sell its cars for no profit because of the technology.
Persons: Tesla, , It's, Elon, Musk, I'm, I've Organizations: Service, Wall, UBS, That's, Elon Musk's, Deutsche Bank Locations: U.S, China
Read previewWhen the automotive industry started looking toward an electrified future, Detroit automakers decided to throw their hat in the ring with what they do best: Pickup trucks. Electric pickup truck pioneer Rivian has also warned of slowing growth, and Elon Musk's Tesla already appears to be offering some purchase incentives for the Cybertruck. Only four EVs sell in that range at the moment, according to Edmunds, and none of them are sold by Detroit automakers. On average, EVs sold for around $61,700 last year, $14,250 more expensive than the typical price paid for non-electric vehicles, Edmunds said. AdvertisementGM is taking another approach, pulling back on EV production as the company plans to bring more hybrids (a segment that has seen demand increase while EV demand wanes) to the North American market later this year.
Persons: , Ford, Rivian, Elon Musk's Tesla, Edmunds, Jessica Caldwell, EVs, BCG, Jim Farley Organizations: Service, Detroit, Ford, Business, GMC, EV, Associated Press, Edmunds, Detroit automakers, Leaf, Fiat 500e, Hyundai Kona Electric, Boston Consulting Group, Bloomberg, North Locations: Detroit, Edmunds
In 1916, the composer Gustav Holst took a young conductor, Adrian Boult, on a long walk through Kew Gardens and Richmond Park in London. A few years earlier, Boult had written to Holst asking whether he had composed any music for small orchestra that he could perform. Few were better equipped than they were to introduce Boult to the score; as rehearsal pianists, amanuenses, copyists and performers, the two would be intimately involved in the creation of “The Planets,” one of the most popular orchestral pieces of the 20th century. Documents from Lasker’s archive at the Royal College of Music in London show that this way of introducing “The Planets” to other artists wasn’t so unusual in its genesis. In an introduction to the piece given by Lasker on BBC radio in 1951, she said, “We had the great joy of introducing the work to all the great conductors in this country, and, after the war, to many of the great continental conductors.”
Persons: Gustav Holst, Adrian Boult, Boult, Holst, ” Holst, Vally Lasker, Nora Day, amanuenses, Lasker, , Organizations: Kew, Richmond Park, Royal College of Music, BBC Locations: Kew Gardens, Richmond, London
The most expensive Fisker Ocean is now cheaper than the average car. The embattled electric-vehicle startup said Tuesday it would reduce the price of the most expensive Ocean by nearly 40% to $37,499. That brings the price of the Ocean Extreme nearly $6,700 below the average price paid for any new vehicle this month. Cheaper trims are also discounted, with the most affordable Ocean now selling for $24,999, Fisker said in a press release. That's a price point you can't often find on any new car lot these daysThis story is available exclusively to Business Insider subscribers.
Persons: , Fisker Organizations: Service, Business
Why Nora Turato is taking on the wellness industry
  + stars: | 2024-03-26 | by ( Victoria Woodcock | ) edition.cnn.com   time to read: +6 min
stop lying!” — a solo show at Sprüth Magers’ Los Angeles gallery, and a riposte to the wellness industry. Robert Wedemeyer/Courtesy Sprüth MagersAt the latter in 2022, she performed her one-woman “pool 5” monologue live more than 20 times over a two-week period. Born in Zagreb, Turato refers to her home country as “very in-between — not really eastern Europe; not really west,” she said. Robert Wedemeyer/Courtesy Sprüth MagersFor Sprüth Magers co-founder Philomene Magers, “Nora’s work puts people in front of a mirror,” she said. Tellingly, Turato’s self-optimization journey has ended in digital detox.
Persons: Nora Turato, , , Zoom, Robert Wedemeyer, Barbara Kruger, , Magers, Philomene Magers, it’s, haha, Turato, Julie Adams, It’s, — “, You’ve, “ I’ve Organizations: CNN, YouTube, Museum of Modern Art, Hollywood, Systems, Locations: Croatian, Los Angeles, Amsterdam, New York, Zagreb, Croatia, Arnhem, Netherlands, Turato, Europe, , LA
Both new models have 48-volt hybrid systems. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The G550 swaps its previous V8 rumbler for a new turbo six-cylinder, with a 48-volt mild hybrid system, which reduces emissions when accelerating from a full stop. The G63, on the other had, retains the V8 and adds the same 48-volt hybrid system. Both models feature better technology inside and out, including an adaptive cruise control system known as AMG Active Ride Control for the G63 — a first for the G-class.
Persons: , Mercedes Organizations: Benz, Service, Control
CNN —A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say. Breyer held that the reports were “unquestionably” protected by the group’s free speech rights. Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire. Researchers face hurdles to studying on-platform behaviorResearchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022. But one of Musk’s first changes at X was to put access to platform data behind a steep paywall.
Persons: reprimanding Elon Musk’s, Charles Breyer, Breyer, CCDH, X, Northern District of California —, Musk, White, Elon, , Alex Abdo, ” Abdo, Angelo Carusone, Carusone, Andrew Bailey, , ” Carusone, David Karpf, ” Karpf, Nora Benavidez, Benavidez Organizations: CNN, Center, Court, Northern, Northern District of, Columbia University, “ Society, Twitter, Anti, Defamation League, Microsoft, Meta, Media, AGs, School of Media, Public Affairs, George Washington University, ” Free Press, Free Press Locations: Northern District, Northern District of California, Texas, Missouri
The long-awaited Tesla Roadster return is going to have "some rocket technology." Musk has dangled a return for the Roadster since 2017. AdvertisementThe long-awaited second-generation Tesla Roadster is engineered to go where no car has gone before, CEO Elon Musk said. In a recent interview with ex-CNN anchor Don Lemon, Musk revealed that Tesla is collaborating with SpaceX on the reincarnation of the Roadster, Tesla's iconic electric sports car. Musk wouldn't directly answer questions about whether the Roadster could fly, only saying such a feature is not "out of the question."
Persons: , Elon Musk, Don Lemon, Musk, Tesla Organizations: Tesla, SpaceX, Service, CNN, Business
After working at Sephora for 11 years, I have lots of go-to makeup and skincare products. The First Aid Beauty facial radiance pads and pure-skin face cleanser are great products. AdvertisementI saw a lot of changes in beauty trends during my 11 years at Sephora. Despite the murky outlook of the economy, shoppers are still spending their cash on beauty products and looking to get the best value on the items they buy. Here are my favorite makeup and skincare products as a freelance makeup artist and former Sephora employee.
Persons: Organizations: Tech, Urban, Service Locations: Sephora
It's actually a good time to buy a new car
  + stars: | 2024-03-16 | by ( Nora Naughton | ) www.businessinsider.com   time to read: +1 min
New car prices are on the way down. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIf you've been waiting to buy a new car until prices start to fall, your patience over the last few years might be paying off. This story is available exclusively to Business Insider subscribers.
Persons: , you've Organizations: Service, Cox Automotive, Business
Apple supplier Foxconn sees strong 2024 as Q4 beats forecasts
  + stars: | 2024-03-14 | by ( ) www.cnbc.com   time to read: +2 min
The outlook has turned rosier since Foxconn Chairman Young Liu said in November the world's largest contract electronics maker had "relatively conservative and neutral" expectations for 2024. The profit beat a T$43.52 billion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate. In the fourth quarter, consumer electronics including smartphones accounted for 58% of revenue while cloud and networking products, including servers, contributed 20%. Foxconn said it expects revenue for the first quarter to slightly decline from a year earlier, with revenue for smart computer electronics also likely to drop in the period. Apple last month reported sales and profit that beat Wall Street estimates, powered by growth in its iPhone business though its China sales missed analysts' targets.
Persons: 20JUL16 SCMP, Nora Tam, Foxconn, Young Liu Organizations: South China Morning, Getty, Foxconn, Hai Precision Industry Co, Apple, Wall Locations: Foxconn, Longhua, Shenzhen, 20JUL16, South, China
Fewer new-car shoppers are considering EVs for their next vehicle, according to JD Power, with shoppers citing a lack of access to charging infrastructure as a main reason for ruling out EVs. Brands that have leaned into hybrids saw better sales results in February. "Hybrids are just rockin,'" Toyota Motor North America's sales chief David Christ told Automotive News after it released its sales results last week. The Toyota RAV4 SUV is one of the more popular hybrids on dealer lots. Among American brands, Ford notched a 31.5% increase in hybrid sales, as these vehicles lured more new customers to the Blue Oval.
Persons: , Power, David Christ, Ford, Jim Baumbick Organizations: Service, Tesla, Business, Brands, Toyota, Automotive, Blue, Ford
Delta-8 THC, or delta-8 tetrahydrocannabinol, is one of more than 100 chemical compounds found in the cannabis sativa plant. That’s at least one or two students in every average-sized high school class who may be using delta-8. Most of the participants were about 17 years old, so the study may not fully represent how many younger teens are using delta-8. There has been a general concern that the number of students using delta-8 has been growing, according to an editorial published Tuesday alongside this study. Calls to America’s Poison Centers about delta-8 products spiked 82% from 2021 to 2022, the group said in a recent report, with 3,358 exposures managed in 2022.
Persons: , Adam Leventhal, “ Dr, Nora Volkow, ” Leventhal, Jennifer Whitehill, Kelly Dunn, Renee Johnson, Harlow et, Scientists don’t, Dr, Sanjay Gupta Organizations: CNN —, USC Institute for Addiction Science, Midwest, National Institute on Drug, University of Massachusetts Amherst, Johns Hopkins University, National Cannabis Industry Association, Scientists, Research, Get CNN, CNN Health, Centers
Chinese smartphone maker Xiaomi designed the SU7 to challenge Tesla and Porsche. The EV claims a top range of 500 miles — about 95 miles more than the Tesla Model S, per Xiaomi. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChinese smartphone maker Xiaomi is launching a new Tesla fighter later this month, marking yet another competitor for CEO Elon Musk in the critical Chinese EV market. The SU7 model, a high-end electric car, is set to launch on March 28 in China, CEO Lei Jun said in a Tuesday post on X.
Persons: Xiaomi, Tesla, , Elon Musk, Lei Jun Organizations: Porsche, Tesla, Service, Apple, Business Locations: Beijing, China
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