Cox Automotive: Tesla US sales expected to fall 21% this quarter

While overall new vehicle sales in the US are expected to grow by 1.7% this quarter, which ends in a few days, Tesla sales are forecast to fall 20.8% compared with Q2 2024, according to new data from Cox Automotive. The US is Tesla’s biggest market.

The data is in line with estimates from a Tesla analyst known as Troy Teslike, who most recently forecast second-quarter sales to decline 24% across North America more broadly.

As we’ve reported, Tesla sales have been heading south in the EV company’s other top markets, China and Europe, as well.

The analyst consensus on FactSet expects global Tesla vehicle sales to drop about 6% for the full year, making it the second year in a row with lower sales than the year before. Teslike expects the decline to be worse, down about 15%.

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Rani Molla22h

Apple has built an app like ChatGPT to test AI Siri

Back in 2024, Apple previewed a new AI Siri that the iPhone maker has since mostly failed to deliver, with the overhaul now slated for the spring of 2026. But Bloomberg’s Mark Gurman says Apple is making moves.

Apple has built an internal ChatGPT-like app to test the new Siri, Bloomberg reports. Workers are using the app, code-named Veritas, to test Siri’s ability to search through personal data like emails and perform in-app actions like editing photos — stuff its competitor Google is already offering.

“The app essentially takes the still-in-progress technology from the new Siri and puts it in a form employees can test out more efficiently,” Gurman wrote. “Even without a public launch, the internal tool marks a new phase in Apple’s preparations for Siri’s overhaul, a high-stakes release that could reshape perceptions of its AI efforts.”

Apple Builds a ChatGPT-Like App to Help Test the Revamped Siri

Rani Molla9/26/25

T-Mobile and Verizon are seeing strong iPhone sales, too

T-Mobile and Verizon are seeing strong demand for the latest iPhone, according to a note today from Bank of America Global Research:

“As per T-Mobile mgmt., iPhone activations are up double digits (new and existing customers). Verizon mgmt. commentary also suggests strong upgrade activity in its existing base during the quarter.”

This is one of several indicators pointing to a strong upgrade cycle for the redesigned iPhone.

Early this month, a survey of iPhone users found that a higher percentage intended to upgrade than did last year. BofA and Wedbush Securities’ Dan Ives have both cited longer shipment times for the latest model than last year, suggesting relatively higher demand. The Information said that Apple asked suppliers to boost production of the iPhone 17 following strong preorder activity. Bloomberg reported long lines and sold-out phones when the devices went on sale last week. BGR noted today that the iPhone 17 and iPhone 17 Pro are still sold out online in the US.

Last week, Sherwood News reported that web traffic to Apple for the iPhone event and for the preorder period were elevated compared with the past few years, though we suggested that might have more to do with a natural upgrade cycle than features on the iPhone 17.

The AI infrastructure debate’s heating up, as spending on data centers set to outpace office construction

Multiple gargantuan data center projects got announced this week — some people see huge risks of fruitless spending, while others, like Sam Altman, think the build-out could be too slow.

Claire Yubin Oh, David Crowther9/26/25

Waymo Recalls Over 1200 Driverless Cars After Collisions Related To Software

Waymo, Lyft, Tesla: Who’s behind the wheel of the US robotaxi industry?

When it comes to autonomous ride hailing, no company is an island — except maybe Tesla. We mapped out the relationships.

Rani Molla, Max Knoblauch9/26/25

Rani Molla

Big Jump

9/26/25

Ives raises Tesla price target to Wall Street high of $600

The Wedbush analyst said investors are “underestimating the transformation underway at the company” regarding AI.

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