Category: US Motoring Press

Tesla dumped 75% of its bitcoin at one of the worst times, losing out on billions

Thiago Prudencio | LightRocket | Getty Images Tesla missed on the top and bottom lines in the second quarter, but another miss was buried in its investor deck. The company’s digital assets are currently valued at $1.24 billion. That’s up substantially from $722 million a year ago. But anyone who’s been following the crypto market… Continue reading Tesla dumped 75% of its bitcoin at one of the worst times, losing out on billions

Trump Commerce Secretary Lutnick says U.S. auto CEOs are ‘cool with’ higher tariffs than Japan

watch now Commerce Secretary Howard Lutnick said Thursday that American auto CEOs told him they are “cool with” President Donald Trump‘s new trade deal, which could put lower tariffs on cars imported from Japan than on cars made by U.S. companies in Canada and Mexico. Lutnick brushed off complaints from a group representing General Motors,… Continue reading Trump Commerce Secretary Lutnick says U.S. auto CEOs are ‘cool with’ higher tariffs than Japan

Tesla’s stock plunges 8% after another weak quarter for auto sales

Elon Musk, during a news conference with President Donald Trump, inside the Oval Office at the White House in Washington on May 30, 2025. Tom Brenner | The Washington Post | Getty Images Tesla shares fell 8% Thursday after the company reported a second straight quarter of declining auto sales, and CEO Elon Musk told… Continue reading Tesla’s stock plunges 8% after another weak quarter for auto sales

Tesla loses market share in Europe for sixth straight month as competition grows

Tesla car is seen in Krakow, Poland on June 11, 2025. Nurphoto | Nurphoto | Getty Images U.S. electric vehicle maker Tesla lost market share in Europe for the sixth straight month in June, according to the European Automobile Manufacturers Association, or ACEA, amid a broader regional dip in new car sales. Data published Thursday… Continue reading Tesla loses market share in Europe for sixth straight month as competition grows

India-UK FTA to cut import duty on ICE cars to 10% in 5 years

The India-UK Free Trade Agreement (FTA) will progressively slash the basic customs duty on internal combustion engine (ICE) passenger vehicles to as low as 10% over the next five years, according to a document from the Ministry of Commerce. The FTA has introduced phased reductions in India’s currently steep customs duties, ranging from 66% to… Continue reading India-UK FTA to cut import duty on ICE cars to 10% in 5 years

Tesla announces cheaper Model Y to combat sales and revenue dive

Tesla will launch a cheaper variant of the Model Y in a bid to increase sales after posting one of its worst ever quarterly sales declines. In January, Tesla boss Elon Musk to launch a range of “more affordable models” by this summer in a bid to broaden its appeal. Rather than an entirely new model, this… Continue reading Tesla announces cheaper Model Y to combat sales and revenue dive

Full Analysis of India-UK Free Trade Agreement

The India-United Kingdom Free Trade Agreement (FTA), signed on July 24, 2025, represents an important moment in bilateral economic relations between the world’s fifth and sixth-largest economies. The agreement, formally known as the Comprehensive Economic and Trade Agreement (CETA), aims to double bilateral trade from the current $60 billion to over $100 billion by 2030,… Continue reading Full Analysis of India-UK Free Trade Agreement

India-UK FTA: No Duty Cut For Lower Priced Electric, Hybrid Cars

The India-UK Free Trade Agreement (FTA) has explicitly excluded battery, hybrid and hydrogen-powered passenger cars priced under £40,000 (approximately Rs 44 lakh) from any import duty cuts, a move aimed at shielding the domestic manufacturers. The basic customs duty on these cars will remain 70%. There will be no import duty concessions for any of these… Continue reading India-UK FTA: No Duty Cut For Lower Priced Electric, Hybrid Cars

ICEMA Q1 FY26 Sales Report: Domestic CE Sales Down Nearly 5% YoY; Exports Rise Over 34%

The Indian Construction Equipment (CE) industry recorded total sales of 28,687 units in the first quarter of FY26 (April–June 2025), marking a marginal 1% year-on-year (YoY) decline and a sharper 30% quarter-on-quarter (QoQ) drop compared to Q4 FY25, according to the latest report from the Indian Construction Equipment Manufacturers Association (ICEMA). Domestic sales fell by… Continue reading ICEMA Q1 FY26 Sales Report: Domestic CE Sales Down Nearly 5% YoY; Exports Rise Over 34%