All articles tagged with #european market
European pricing for the Pixel Watch 4 has leaked, showing consistent prices with previous models, with €399 for the Wi-Fi 41mm, €499 for LTE, €449 for Wi-Fi 45mm, and €549 for LTE. The watch is expected to look similar to previous versions, with internal upgrades like a new co-processor and a brighter display, and pre-orders start August 20 with release on August 28. The impact of tariffs on US pricing remains uncertain.
Tesla's vehicle sales in France plummeted to just 700 units in May, marking the worst performance in over three years, with a 67% drop compared to the previous year, despite the full production of the new Model Y and claims of no demand issues by Elon Musk, indicating a potential demand collapse in Europe.
Ford Motor Company is trading lower as it announces plans to cut 14% of its European workforce, approximately 4,000 jobs, due to weak demand for electric vehicles and increased competition. The layoffs, primarily in Germany and the UK, are part of broader cost-cutting measures in the automotive industry. Ford's European sales have dropped significantly, and the company cites insufficient government support for EVs as a contributing factor.
Volkswagen has confirmed plans to produce an affordable electric vehicle priced under $22,000, aimed at the European market. This initiative is part of Volkswagen's strategy to maintain its competitive edge against Chinese manufacturers and expand electric mobility in Europe. The new EV, potentially named the VW ID.1, is expected to be a compact city car with a range of around 100 miles, and production is set to begin by 2027.
Stellantis CEO Carlos Tavares warns that imposing tariffs on Chinese electric vehicles in Europe and the U.S. could have severe economic consequences, including job losses and increased inflation. He argues that such tariffs would not protect Western automakers from the competitive edge of lower-cost Chinese manufacturers and calls for a strategic response to the growing market share of Chinese OEMs in Europe. The European Commission is set to decide on potential tariffs on June 5, amid rising tensions between Beijing, Brussels, and Washington over EV trade.
Alfa Romeo introduces the Milano, an entry-level crossover with electric and hybrid powertrains, but its questionable styling choices have raised concerns about the brand's design direction. The front grille and additional grillework, along with the interior design, have been criticized, leading to doubts about the car's appeal. Despite its electrified platform and performance features, the Milano's aesthetics have sparked disappointment, prompting questions about the future of the renowned Italian marque.
US and European trade negotiators have reached an emergency truce to block a 50% tariff on American whiskey and bourbon that was set to be imposed by the European Union. The tariff increase, which would have had a devastating impact on the industry, has been postponed until after the inauguration of the next American president in January 2025. Distillers warn that the uncertainty makes it difficult for them to plan production, but hope for a permanent solution to maintain trade between the US and the European Union.
Chinese smartphone makers, starting with Vivo, are expanding their presence overseas, particularly in Europe, with flagship smartphones powered by MediaTek's Dimensity 9300 chip. This move poses a challenge to Apple and Qualcomm's market share and aims to disrupt their chip dominance. Vivo's X100 and X100 Pro will be released in Europe, India, Indonesia, and Southeast Asia, targeting the premium market. The pricing for these devices has not been confirmed, but analysts predict MediaTek's market share to increase to 35% by 2024.
Toyota has unveiled its new Urban electric SUV concept, which will rival Volvo's EX30 as an affordable electric vehicle option. The concept, set to launch next year, draws inspiration from the Toyota Yaris Cross and offers flexible interior space and two battery options. Toyota plans to introduce next-gen batteries to increase range and reduce costs. The Urban electric SUV will directly compete with Volvo's EX30 in the European market, with Toyota aiming to offer a diverse EV selection by 2026.
Solar stocks, including SolarEdge, tumbled to a three-year low after SolarEdge warned of weakened demand in Europe, causing further pessimism in the renewable energy sector. The Invesco Solar ETF (TAN) dropped 8.5%, while Sunrun, Sunnova, and Enphase Energy also experienced significant declines. SolarEdge's stock fell nearly 28% after reporting missed revenue and lower guidance for the fourth quarter due to unexpected cancellations and slow installation rates in Europe. Rising interest rates and financing challenges have already impacted the solar sector this year. Goldman Sachs downgraded SolarEdge to neutral, citing concerns about the company's performance in 2024 and a significant deterioration in visibility.
Citroen has unveiled the 2024 e-C3, the electric version of its popular C3 model, with a starting price of around $24,500 in Europe. The e-C3 features a 44-kilowatt-hour battery providing a range of up to 199 miles, powered by a 113-horsepower electric motor. The design has been updated to a more crossover-like appearance, offering a roomier cabin and increased cargo space. Citroen plans to introduce a more affordable model with a smaller battery pack and a range of 124 miles in 2025, making the e-C3 one of the most affordable EVs in Europe.
SolarEdge Technologies, a leading solar inverter manufacturer, has announced that it will not be reducing prices for its inverters despite a temporary dip in demand from Europe. The company is banking on the decreasing prices of solar panels to make solar installations more affordable for consumers. While energy costs in Europe have risen due to the Ukraine crisis, the drop in prices of solar panels has been a boon for consumers. Solar companies are optimistic about long-term demand for solar inverters in Europe, especially with the increasing frequency of heatwaves. SolarEdge expects strong demand heading into 2024, although it faces immediate challenges such as high inventory levels in Europe and a new metering policy in California.
Kia has announced the initial pricing for its all-electric three-row SUV, the EV9, in Europe, starting at 61,975 Euro for the entry-level Earth launch edition variant. This price does not include taxes and gives an indication of what the SUV may cost in the US, estimated to be around $67,500 for the base version. The EV9 is available with two battery options and three powertrain configurations, and deliveries have already begun in Korea. Kia's smaller EV6 crossover starts at $42,600, suggesting that the EV9 will be priced higher due to its larger size.
Shelby American has modified Ford's all-electric Mustang Mach-E for the first time, enhancing its handling and styling for the European market. The Shelby Mustang Mach-E GT has been lowered by over an inch, and comes with a carbon fiber front splitter, lightweight satin black wheels, and dark blue racing stripes along the side of the car. The car also features Shelby badging both inside and out, and custom Shelby floor mats inside the car. The Shelby Mustang Mach-E GT is available to order in Europe from July 2023, with prices starting at €24,900 ($27,000) for the accessory pack.
Tesla has launched GigaBier, a Cybertruck-inspired Pilsner that is available in the European market. The limited edition pilsner-style beer is brewed in Berlin with an exclusive strain of Cyberhops and notes of citrus, bergamot, and sweet fruit. Each bottle features a seamless gloss black sleeve with a glow-in-the-dark Giga watermark. The GigaBier is not available in the United States yet, and a three-pack is priced at €89 ($97.06). Tesla's GigaBier is the company's second venture into beverages after Tesla Tequila.