business

Tom Jones2/25/25

Tesla’s sales nearly halved in Europe in January

Elon Musk’s automaker’s sales slipped 45% in Europe between January 2024 and last month, per new data from the European Automobile Manufacturers’ Association (ACEA), as the company’s already rough start to 2025 seems to get a little worse with each new release of sales data.

Tesla has seen its market share of overall new vehicle registrations halve in the last 12 months across countries in the EU, from 1.8% in 2024 to 0.9% last month. Out of the 17 major automaker groups tracked, 14 saw sales decline year over year, but none suffered as steep a drop as Tesla. Stellantis saw a 16% drop, while Ford saw a 12% dip.

According to the latest monthly figures from the ACEA, first cited in the Financial Times, Tesla shifted just 9,945 new cars across the EU, EFTA, and the UK in January — down from 18,161 for the same period last year. The company’s declines across major markets so far this year (January sales were reportedly down 11.5% in China and 13% in the US) are partly attributed to customers holding out for long-awaited cheaper models, set to go into production in the first half of the year.

Another factor cited by some has been Musk’s increased involvement in the region’s politics, chiefly in Germany, where the Musk-backed AfD doubled its vote share to finish second in Sunday’s national election.

According to the latest monthly figures from the ACEA, first cited in the Financial Times, Tesla shifted just 9,945 new cars across the EU, EFTA, and the UK in January — down from 18,161 for the same period last year. The company’s declines across major markets so far this year (January sales were reportedly down 11.5% in China and 13% in the US) are partly attributed to customers holding out for long-awaited cheaper models, set to go into production in the first half of the year.

Another factor cited by some has been Musk’s increased involvement in the region’s politics, chiefly in Germany, where the Musk-backed AfD doubled its vote share to finish second in Sunday’s national election.

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Max Knoblauch5h

Paramount reportedly offers concessions to resolve multistate antitrust investigation

Paramount has reportedly offered up some concessions in an effort to prevent an antitrust lawsuit by California and about 10 other states, according to Bloomberg reporting on Monday.

Reuters first reported on the potential suit from a group of unnamed states last week, which could throw a wrench in Paramount’s plans to buy rival Warner Bros. Discovery in a Hollywood megamerger.

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

Paramount Offers Concessions to Head Off State Antitrust Lawsuit

Paramount Offers Concessions to Head Off State Antitrust Lawsuit

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

Max Knoblauch12h

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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Max Knoblauch6/5/26

business

Max Knoblauch6/4/26

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

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

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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