Business
business
Jon Keegan

Tesla sales tank in Europe

Tesla is seeing a huge drop-off in sales across Europe, coming shortly after CEO Elon Musk’s newfound interest in participating in Germany’s right-wing political movement.

The Financial Times reports that Tesla’s market share in Germany dropped from 14% to 4%, with the electric car maker’s registrations dropping 59% year over year, even while the overall German EV market grew more than 50% year on year.

Tesla’s European problems aren’t just limited to Germany:

  • 🇩🇪 Germany: Registrations dropped 59% year over year.

  • 🇫🇷 France: Sales down 63% in January.

  • 🇬🇧 United Kingdom: Registrations down 8% year over year.

  • 🇳🇴 Norway: Registrations down 38% year over year.

Since aggressively campaigning for President Trump’s reelection, Musk has jumped into the fray of the upcoming German federal election, supporting the far-right Alternative for Gemany (AfD) party. Musk appeared remotely at an AfD campaign event in January, and hosted the leader of AfD on a live discussion on X.

Tesla’s sales plummet across Europe

Tesla’s sales plummet across Europe

Tesla’s European problems aren’t just limited to Germany:

  • 🇩🇪 Germany: Registrations dropped 59% year over year.

  • 🇫🇷 France: Sales down 63% in January.

  • 🇬🇧 United Kingdom: Registrations down 8% year over year.

  • 🇳🇴 Norway: Registrations down 38% year over year.

Since aggressively campaigning for President Trump’s reelection, Musk has jumped into the fray of the upcoming German federal election, supporting the far-right Alternative for Gemany (AfD) party. Musk appeared remotely at an AfD campaign event in January, and hosted the leader of AfD on a live discussion on X.

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$98B ⛽
Max Knoblauch

The IATA released its latest financial outlook for the airline industry over the weekend, forecasting a $98 billion jump in the sector’s collective fuel bill. The world’s largest trade group representing airlines expects the oil spike to halve profits by 49% from last year to $23 billion.

The group also expects profit margins to halve year over year, falling from 2025’s 4.2% to 2%. Still, revenue is expected to climb to $1.17 trillion from $1.07 trillion.

A surge in the cost of jet fuel has rocked US and global airlines this year, leading Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, and others to raise fares and ancillary charges like bag fees. Low-cost carriers, which operate on smaller margins, have been squeezed the hardest, resulting in Spirit’s shutdown.

“It’s a tough year for all airlines, especially those whose balance sheets had not yet recovered from COVID. And, of course, for those operating in the Gulf,” said IATA Director General Willie Walsh, who added that demand is holding up and about half of passengers expect to spend more on travel this year. “That bodes well for a strong northern summer peak season. The big unknown is how long travelers and shippers can tolerate the higher costs of connectivity.”

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GM has reportedly rehired more than 100 former Cruise employees, 18 months after shuttering the robotaxi unit

GM has rehired more than 100 employees it let go early last year when it shuttered Cruise, its former robotaxi business, according to reporting by The Information.

The hiring spree, which also includes employees from Nvidia and Uber, is geared toward ramping up GM’s plans for personal-use self-driving vehicles and not robotaxis. The former had been the focus of Cruise, prior to GM shuttering it in 2024.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

Exclusive: With Some 100 Rehired Cruise Employees, GM Pursues Eyes-Off Autonomous Cars

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Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

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