Tesla EV sales aren't rising in the U.S.
New electric vehicle registrations rose 9.6% in May, mostly due to sales promotions and good lease deals. However, not everyone is having fun. Tesla’s new vehicle registrations fell for the fourth consecutive month, according to data from S&P Global Mobility.
EVs from 31 brands were able to capture 7.5% of the U.S. light vehicle market. That’s up from 6.8% at the same time last year. In total, May EV registration totaled 104,916 vehicles. In fact, EV registrations actually outpaced the broader light-vehicle market, which was down 0.7% to just under 1.4 million vehicles. Not too shabby. From Automotive News:
“In terms of pure sales performance, EVs are making progress, but underneath the sales are huge incentives,” [Tom] Libby [associate director of industry analysis at S&P] said. “They are not sustainable, and they are causing losses on the part of automakers.”
Still, not everyone is having fun. Tesla may still be the EV sales leader by a long way, but the margin is shrinking.
Tesla, still the EV sales leader by a wide margin, saw its May registrations fall 15 percent to 48,587 vehicles, S&P Global Mobility said. Tesla’s share of the EV segment dropped to 46 percent from 60 percent a year earlier.
Among the strongest performers, Kia’s registrations rose 146 percent, Rivian’s numbers grew 87 percent, Hyundai increased 40 percent, and Nissan was up 87 percent year over year, the data showed.
Registration data serves as a proxy to automaker delivery numbers because Tesla doesn’t break out its U.S. sales and some other automakers don’t report EV sales by model. But the figures lag by several weeks.
Incentives seem to be a big reason for the uptick in electric vehicle sales.
Automakers in May poured on sales incentives, including subsidized financing and lease deals, with some models getting more than $15,000 in discounts, according to data from Motor Intelligence.
May incentives on the Kia EV6, a compact crossover, reached $16,812, Motor Intelligence said. Kia’s EV9 midsize crossover had $18,078 per vehicle, and the Cadillac Lyriq reached $17,732, the data showed.
Tesla’s Model Y had relatively modest incentives of $5,570 in May, Motor Intelligence said. Rivian Automotive, which hasn’t been profitable since launching in late 2021, offered incentives of $4,060 on its R1T pickup.
In all these examples, discounts rose significantly from a year earlier. The Lyriq’s May 2023 incentives were $761 per vehicle, Motor Intelligence said. The Model Y had $1,195.
One industry analyst feels electric vehicle sales may soon reach their ceiling.
EV makers have little choice but to offer attractive deals, cut production or stay mostly on the sidelines, as Toyota has done by focusing on hybrids over EVs, said Karl Brauer, executive analyst at iSeeCars.
Brauer predicted last year that EV market share would reach around 7 percent and then stall, based on a study of U.S. consumer preferences by iSeeCars.
Source-Quartz
Chip stocks drop on fears US to toughen China rules
Technology stocks around the world have slumped on fears about the global computer chip industry.
The sell-off came after a report that the Biden administration could be set to further tighten restrictions on exports of semiconductor equipment to China.
Comments by former US President Donald Trump that Taiwan, the biggest producer of chips, should pay for its own defence added to the concerns.
In the US, the tech-heavy Nasdaq index closed 2.7% lower on Wednesday, while chip stocks have also tumbled in Europe and Asia.
"Regardless of the outcome of the elections... I think we will see the US increase some of the restrictions" said Bob O'Donnell, chief analyst at TECHnalysis Research.
"How far they will take it, though, is the big question."
In Asia, chip making giant TSMC lost 2.4% on Thursday, while semiconductor equipment maker Tokyo Electron was down by around 8.8%.
That came after Nvidia closed 6.6% lower in New York on Wednesday, while AMD lost more than 10%. In Europe, shares in ASML, which makes chip making machines, tumbled by almost 11%.
The falls came after Bloomberg News reported on Wednesday that the US government is preparing to impose its tightest curbs yet on semiconductor making equipment to China if firms like ASML and Tokyo Electron continue to give the country access to their advanced chip technology.
The US Commerce Department, ASML, and Tokyo Electron declined to comment when contacted by BBC News.The Biden administration has previously taken steps to restrict China's access to advanced chip technology.
In October, it restricted exports to China of advanced semiconductors used in artificial intelligence (AI) technology.
The remarks on Taiwan by Mr Trump also hinted at possible disruption of global chip supplies.Taiwan produces most of the world's advanced chips.
“Investors always react to any remarks from the US but despite these comments, the long term business trend for the semiconductor industry is clearly going up,” said Marco Mezger, Executive Vice President of memory chip technology company Neumonda.
BBC
Nadal continues Olympic preparations with win against Norrie
Rafael Nadal's preparations for the Olympics continued with an impressive straight-set win over Britain's Cameron Norrie in the second round of the Swedish Open.
Nadal, 38, overcame the fifth seed in Bastad 6-4 6-4 to set up a quarter-final with Argentine Mariono Navone.
The Spaniard decided to miss Wimbledon to focus on the Olympics in Paris this summer - where he will play singles and doubles with Carlos Alcaraz.
Nadal, who is set to play in the doubles semi-final with Casper Ruud on Saturday, broke Norrie once in the first set to claim the lead.
After receiving medical treatment on his arm because of a heavy fall at the start of the second set, Nadal was broken by an improving Norrie.
But Nadal, who was trailing 4-1, then reeled off five games in a row to book his spot in the last eight with his best performance of the season.
"Great feelings, it's been a while without playing on the Tour since Roland Garros and I had a chance to compete against a great player like Cameron," said Nadal.
"It's part of the journey today. I haven't been competing very often so matches like today help and holding the pressure on the opponent for the whole game is something I need to improve on because I haven't played enough."
Source- BBC
Joe Biden held "tense" call with group of House Democrats over concerns he can't win
On Saturday, roughly an hour before the assassination attempt on former President Donald Trump, President Joe Biden was in the midst of a heated call with moderate House Democrats.
The Zoom call, according to multiple sources, did not go well for the president.
The call was between the New Democrat Coalition, which includes a mix of nearly 100 moderate and some progressive-adjacent members, and President Biden, and focused mostly on members' concerns about Biden's ability to win the election.
One House Democrat on the call told ABC News that Biden was not prepared for questions, that he gave "rambling responses" without answering questions and that he downplayed their concerns.
Members were largely dismayed with Biden's presentation and lack of a strategy or preparation for anticipated questions, according to sources.
The call turned personal during what was described as a "tense" exchange with Colorado Democrat Rep. Jason Crow, per multiple sources.
Crow questioned Biden's mental fitness and if his age is a "national security risk." The president was "defensive" in his responses, sources say.
Source-ABC
Secret Service spotted shooter on roof 20 minutes before gunfire erupted
Law enforcement officials investigating the assassination attempt on former President Donald Trump told lawmakers Wednesday in an unclassified briefing that 20 minutes passed between the time U.S. Secret Service snipers first spotted Thomas Matthew Crooks on the roof and the time shots were fired, according to several law enforcement officials and lawmakers briefed on the matter.
According to this source, briefers said the snipers spotted him on the roof at 5:52 p.m. The shooting happened at 6:12 p.m., 20 minutes later.
The briefing was conducted by the FBI director, his deputy director and the head of the United States Secret Service.
In addition, briefers told lawmakers Crooks was identified as a person of interest a full 62 minutes before the shooting took place.
Source-ABC
President Joe Biden has tested positive for COVID-19: White House
President Joe Biden has tested positive for COVID-19 and is experiencing mild symptoms, according to the White House.
Unidos US CEO Janet Murguía had also announced the diagnosis from the podium where the president was set to speak at a conference in Las Vegas on Wednesday.
Biden, 81, tested positive for COVID-19 earlier Wednesday, following his first event in Las Vegas, according to the White House.
"He is vaccinated and boosted and he is experiencing mild symptoms," the White House said in a statement. "He will be returning to Delaware where he will self-isolate and will continue to carry out all of his duties fully during that time."
Meanwhile, the President is seriously considering proposing major changes to the Supreme Court in the coming weeks, including proposals for legislation to establish term limits for justices and an enforceable ethics code, according to a source briefed on the plans.
The president is also seriously considering calling for a constitutional amendment to eliminate broad immunity for presidents and other constitutional officeholders, according to the source.
The plans would need approval from Congress and a constitutional amendment would need to pass even more hurdles.
Source-ABC
Usher and Rémy Martin offering fans an opportunity to win tickets to his tour
Want tickets to Usher's Past Present Future tour? Here's your chance. Usher has teamed with Rémy Martin, sponsor of the tour's North American leg, for a sweepstakes that gives fans an opportunity to win tickets to one of his shows. Fans can scan select QR codes in stores and other advertisements, or go to the website to enter the sweepstakes, which will be live until Oct. 31. For more information, check out UsherTour.RemyMartin.com.
Rémy Martin and Usher are also hosting a few experiences for VIP fans, complete with a cocktail experience featuring drinks made especially for the tour.
"As we continue to support USHER during this legendary year, we're proud to pass the javelin on to the next generation of cognac drinkers and music lovers," Nicolas Beckers, Rémy Cointreau Americas' CEO, said in a statement. "Through our tour partnership and sweepstakes, Rémy Martin is reaching clients where they are, offering unforgettable moments of celebration and connection."
"This tour is a celebration of the past, present and future. Teaming up with Rémy Martin, a brand that's felt like family for more than a decade and has been crafting cognac for 300 years, is the perfect collaboration in bringing the tour to life across the U.S.," Usher adds. "Together, we honor the legacy of music and cognac, celebrating our shared history while looking forward to an exciting future."
Usher's tour kicks off in August and runs through the end of November.
Source-ABC
Summer workers to join Hurricane Beryl damage assessment team
As the clock turns, desperation sets in for many Jamaicans awaiting a return to normalcy on that island.
In a bid to fast-track the damage assessment following the passage of Hurricane Beryl on July 3, a decision has been taken to reassign hundreds of summer workers in Jamaica from the Youth Summer Employment Programme to the Office of Disaster Preparedness and Emergency Management.
The aim is to “bring rapid conclusion to the damage assessment process,” Prime Minister Andrew Holness said on Tuesday. He was giving an update on the Government’s relief and recovery efforts, during a statement in the House of Representatives.
The Prime Minister of Jamaica, Hon. Andrew Holines pointed out that “there is much data collection and damage assessment work being conducted across Jamaica”.
He added that “Given our commitment to fast-track these assessments, the government, through the Ministry of Local Government and Community Development, has provided 200 summer workers from the Youth Summer Employment Programme, to assist the Ministry of Labour and Social Security in its efforts to assist those affected in a timely manner. I am also pleased to announce that an additional 300 summer workers …will be assigned to the Office of Disaster Preparedness and Emergency Management, to bring rapid conclusion to the damage assessment process.
The PM added that they will be in the field beginning next Monday, July 22”.
Source- Jamaica Observer
Comedy and TV legend Bob Newhart dead at 94
Comedian and TV star Bob Newhart has died, ABC News has confirmed. He was 94.
His longtime publicist, Jerry Digney, reported the legendary comedian with the trademark deadpan delivery died at his home in Los Angeles "after a series of short illnesses."
The Chicago native, born George Robert Newhart, became a household name with the release of his 1960 comedy album, The Button-Down Mind of Bob Newhart. It won Newhart three Grammys: Album of the Year, Best New Artist and Best Comedy Album.
After the success of The Button-Down Mind, Newhart got his own variety show with NBC, The Bob Newhart Show. Though it was canceled after one season, Newhart earned an Emmy nomination and a Peabody Award.
He went on to guest star on shows including The Tonight Show Starring Johnny Carson and The Ed Sullivan Show over the next few years, and in 1972 he took on the starring role in The Bob Newhart Show. In that show, Newhart played a psychologist named Robert Hartley who was constantly interacting with patients and colleagues.
That show lasted six seasons, and in 1982 he took on a new sitcom, Newhart, in which he portrayed an innkeeper named Dick Loudon. Newhart earned the actor three Emmy nominations, and its finale — which saw him wake up in his bedroom from The Bob Newhart Show — has been lauded as one of the greatest in television history.
Newhart went on have two other shows, Bob and George and Leo, though neither became the hits that The Bob Newhart Show and Newhart were.
In 2003, he starred in Jon Favreau's holiday classic Elf as Will Ferrell's adoptive father, Papa Elf.
Newhart won his first Emmy in 2013 for a guest-starring role in The Big Bang Theory.
A voice-over artist who lent his talent to films such as The Rescuers and The Rescuers Down Under, Newhart is survived by four children — Jennifer, Courtney, Timothy and Robert — and numerous grandchildren.
Virginia "Ginnie" Newhart, his wife of 60 years, passed away in 2023.
Source-ABC
Grenada Opposition alarmed at statement made by Prime Minister
The Grenada opposition New National Party (NNP) Monday said it is “alarmed” at a statement made by Prime Minister Dickon Mitchell regarding loans being disbursed by the Grenada Development Bank (GDB).
Speaking on a television programme on Sunday, Mitchell said that the bank does business with Grenadian citizens whether it be a politician or a public official.
“.…if that politician, citizen or public official meets the bank’s criteria for financial services from the bank that citizen, that public officials, that politician in my mind is entitled to have access to the bank’s services like any other citizen of Grenada,” Mitchell added.
In a statement, the NNP said that the statements by Prime Minister Mitchell “are worrying and the actions have violated the Grenada Development Bank Act, specifically Section 5 concerning the Prohibition Relating to Sub-loans”.
The NNP said that the particular section states “The Bank shall not make sub-loans out of the proceeds of the loan to a director of the Bank, to a member of the Legislature of the State of Grenada or to any company controlled by any such director or member of the Legislature or to the close relatives of any such director or member of the Legislature.”
The opposition party said that “this statute is intended to prevent conflicts of interest and ensure fairness and transparency in the management of public resources.
”While sitting MPs receive millions from the Grenada Development Bank, local farmers, fishermen, and small business owners struggle to access the funds they need to grow their businesses. The bank was originally designed to support these community entrepreneurs, not politicians,” the main opposition party added.
“Given these concerning revelations, we call for the immediate resignation of the GDB board to restore trust and integrity in our financial institutions. Additionally, any minister or MP who has benefited from these loans while holding office should resign and immediately repay the bank the monies received,” the NNP added.
In his interview, Prime Minister Mitchell confirmed that Andy Williams, was a customer of the bank before becoming a Member of Parliament in June 2022 and he has continued to conduct business with the financial institution.
“As far as I am aware, Minister Williams has been a customer of the Grenada Development Bank pre his involvement in public life. That is factual, that is clear and his relationship with the bank has continued. The bank and my government are not using the bank to finance no personal loans of any minister,” the Prime Minister said.
Source-CMC