With global sales slumping, Tesla tries to break into a new market
CNN
Tesla has started selling cars in India, the world’s most populous country – but at a hefty price tag.
Tesla has started selling cars in India, the world’s most populous country – but at a hefty price tag. Tesla, which is facing slumping sales and complications from CEO Elon Musk’s political entanglements, opened its first showroom in Mumbai on Tuesday. The company needs to boost its sales, and pushing into a new market with untapped buyers could help. The Tesla web site shows the price of a Model Y at 61,07,190 rupees, or about $71,000. However, the same car is listed on the company’s site for US buyers at about $45,000 before applying a $7,500 federal tax credit for electric vehicles (EV), which would lower the cost to $37,500. (That tax credit is due to expire at the end of September.) Tesla has had a long-stated desire to sell in India, but Indian tariffs on foreign autos, which can more than double the cost of a vehicle there, have been the barrier, according to the World Trade Organization and Tesla executives. “We’ve been working on getting into India. India is a very hot market,” said Tesla CFO Vaibhav Taneja in a call with investors in April. “It will be a great market to enter because India has a big middle class.” But he said the tariffs “create a little bit of tension, which we’re trying to work around.”
A new rule by the Federal Communications Commission will make it impossible for US consumers to buy the next generation of foreign made drones, including DJI.
CBS News editor in chief Bari Weiss decided to shelve a planned “60 Minutes” story titled “Inside CECOT,” creating an uproar inside CBS, but the report has reached a worldwide audience anyway.
Earlier this month, after President Donald Trump blasted “60 Minutes” for interviewing Marjorie Taylor Greene, correspondents noticed a change behind the scenes.
Paramount has upped the ante in its hostile takeover bid for Warner Bros. Discovery, announcing Monday that Larry Ellison will personally guarantee the tens of billions of dollars he is putting up to bankroll the transaction. The Ellisons will also let shareholders peer into the finances of their family trust.
Thieves are increasingly targeting the copper wires that keep America’s power grids and phone networks running.
You don’t get labeled the “Oracle of Omaha” for nothing.
An estimated $1.6 billion is up for grabs in Monday’s Powerball draw after the jackpot rolled over on Saturday.
“60 Minutes” just suffered a severe blow to its credibility. Now one of its own correspondents fears the program is being “dismantled,” and some employees are threatening to quit.
Popular Kentucky bourbon maker Jim Beam plans to pause production at its main distillery next year, according to the James B. Beam Distilling Company.
The opening was shy of analysts’ expectations that it could earn more than $100 million, but it also earned roughly $257 million internationally, bringing its global opening to $345 million.
The costs of social outings can add up, and some young adults are compromising by renting clothes instead of buying high-end luxuries.
As America’s labor market slows, AI-led interviews and auto-generated cover letters are dramatically changing the process of getting a job. And maybe not for the better.
Someone could become $1.5 billion richer after this evening — if they pick the winning numbers in the latest Powerball jackpot.