SiriusXM plans to cut $200 million in costs by 2025, shifting focus from streaming to its core automotive market, where 90% of its subscribers engage. This strategic move follows previous cost-saving efforts and comes as the company forecasts $8.5 billion in revenue for 2025, below Wall Street expectations, causing a 10% drop in its stock. The company aims to enhance retention and growth in the automotive segment while reducing investment in high-cost streaming audiences.
The Nissan Z, once highly anticipated, is now facing sluggish sales, leading to significant discounts across the U.S. market. Despite its appealing features like a 400-horsepower engine and manual transmission, the Z struggled with initial supply issues and dealer markups, which dampened consumer interest. Now, with an oversupply, dealers are offering substantial price cuts, with some models available for up to $10,000 off MSRP. This situation highlights the challenges Nissan faced in capturing the sports car market, despite delivering a product that met enthusiast expectations on paper.
BYD reported strong NEV sales in May, with a total of 331,817 units sold, including 330,488 passenger cars and 1,329 commercial vehicles. The Song family led sales with 82,174 units, followed by the Qin family with 57,072 units. Other notable performers included the Yuan family with 40,231 units and the Seagull with 35,370 units. BYD's premium Denza brand and sub-brands Fang Cheng Bao and Yangwang also contributed to the sales figures.
With Apple's self-driving car project facing challenges, the company is focusing on revamping CarPlay to compete in the automotive market. The new CarPlay, known as Project IronHeart, aims to fully integrate with vehicles and offer a slicker interface and greater customization. However, Apple faces hurdles such as limited rollout to high-end cars, lack of a monetization plan, and competition from Android. Bloomberg's Mark Gurman suggests that Apple must act quickly to get more automakers on board and find ways to profit from CarPlay to avoid losing ground to Android.
A custom 1995 Dodge Viper RT/10 with unique bodywork and interior modifications is listed for sale at $26,400, making it one of the cheapest first-gen Vipers on the market. The car has low mileage and has won awards in the past, but the ad mentions that it needs some TLC without specifying the required work. Despite its unique features, the Viper has been on Craigslist for over two weeks, prompting potential buyers to consider whether the asking price is justified.
Tesla's holiday update brings significant undocumented changes, including improved transition to cellular data, reverse functions, and Supercharger amenities on map. Meanwhile, Tesla's US market share has risen to 4.2%, surpassing Volkswagen, Subaru, and BMW, despite a drop in profitability. Elon Musk's denial of the Model 3 codename "Highland" adds to the mystery surrounding the name, sparking speculation and humor within the Tesla community.
