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New Tesla car sales plunged across Europe in April even as sales of other electric vehicle brands soared, in part due to backlash against CEO Elon Musks support for Europe’s far-right politics, as well as growing competition from both European and Chinese EV carmakers, according to Reuters. Last month, Tesla’s new car sales in the U.K. and Germany tanked to their lowest in over two years, falling 62% and 46% year on year, respectively, even as demand in both countries rose for EVs. And in Spain, there was more bad news for Tesla, with new sales falling 36% in April 2025 compared with the the same month a year earlier, according to data from ANFAC, the Spanish Association of Automobile and Truck Manufacturers, as reported by Reuters. Shares of Tesla stock (NYSE: TSLA), which have been a roller-coaster ride since the beginning of the year, were down about 3% in midday trading on Tuesday at the time of this writing. Tesla’s billionaire CEO Elon Musk’s politics, both at home and abroad, have cost him dearly. Americans have continued to boycott Tesla and protest Musk, angered by his role in the Trump administration and his so-called Department of Government Efficiency (DOGE), which has ordered widespread layoffs of government workers and slashed federal budgets, wreaking havoc on the government’s ability to function both efficiently and effectively. In Europe, where Musk has shown support for far-right politics, just as in the United States, Europeans have been protesting and boycotting the EV carmaker, in addition to vandalizing Tesla showrooms and charging stations. Musk has pledged to cut back on his government meddling, but for now it seems the damage to his reputation and company is already done. A look at the numbers shows that despite Tesla still being one of the largest electric car manufacturers in the world, its market share is weakening, especially in Europe. Earlier this month, the European Automobile Manufacturers Association confirmed that Tesla sales fell 49% in Europe in the first two months of 2025, despite the fact that overall EV sales in Europe were up 28%. April’s numbers showed where exactly that pain point was. Tesla sales plunged an eye-popping 81% in Sweden, to their lowest since October 2022, and were down 73.8% in the Netherlands when compared with the same month last year. Sales fell 67% and 59%, respectively, in Denmark and France, and 33% in Portugal. In the first quarter of 2025, Tesla sales in Spain fell 17%, while electrified vehicles sales, of both hybrid and electric vehicles, were up a whopping 54%. Chinese EV automakers BYD, MG, and Omoda were up 644%, 80%, and 346% so far this year, respectively, per ANFAC.
Category:
E-Commerce
The U.S. Justice Department is doubling down on its attempt to break up Google by asking a federal judge to force the company to part with some of the technology powering the company’s digital ad network. The proposed dismantling coincides with an ongoing federal effort to separate Google’s Chrome browser from its dominant search engine. The government’s latest proposal was filed late Monday in a Virginia federal court two-and-half weeks after a federal judge ruled that its lucrative digital ad network has been improperly abusing its market power to stifle competition to the detriment of online publishers. In a 17-page filing, Justice Department lawyers argued that U.S. District Judge Leonie Brinkema should punish Google by ordering the company to offload its AdX business and DFP ad platform, tools that bring together advertisers, who want to market their products, and publishers, who want to sell commercial space on their sites, to bring in revenue. The government also is seeking other restrictions, including a 10-year ban on Google from operating a digital ad exchange, to undercut the power of a recidivist monopolist. Not surprisingly, it’s an idea that Google vehemently plans to oppose when the penalty phase of the antitrust case known as remedy hearings begins in late September. Google already has vowed to appeal Brinkema’s ruling that the technology powering the ad network has been breaking the law, but can’t do that until the judge rules on its punishment in a decision expected late this year or early next year. The Justice Department’s proposal would cause economic chaos and technological dysfunction resulting in harm to millions of advertisers and publishers, and in so doing, degrade the experience of internet users, Google said in a court filing late Monday. In its counterproposal, Google outlined a plan that it believes will bring more transparency to its ad network and eventually foster more competition. Google proposed the appointment of a trustee to oversee its behavior for three years. The attempt to tear down Google’s ad network comes on top of the Justice Department’s ongoing effort to have the company part with its popular Chrome browser and impose other restrictions to curtail the power of its ubiquitous search engine, which another federal judge branded an illegal monopoly in a ruling last August. The remedy hearings in the search case are scheduled to conclude later this month, with a ruling from U.S. District Judge Amit Mehta expected by Labor Day. If the Justice Department is able to persuade the two different judges to order its proposed dismantling of Google, it would be the biggest breakup of a U.S. company since AT&T was forced to spin off its phone service into seven separate regional companies more than 40 years ago. Google’s Play Store for apps running on its Android software that powers most of the world’s smartphones also was declared an illegal monopoly by a federal jury in 2023 and is battling a judge’s order that would require it to overhaul a commission system that generates billions of dollars in annual revenue. But hobbling its search engine and digital ad network would be far bigger blows because they are the key cogs in a business that generated $265 billion in revenue last year. Google is confronting the breakup threats at the same time the advent of artificial intelligence is changing the way consumers are using technology and seeking information online a shift that could also siphon traffic and money away from a powerhouse that began in a Silicon Valley garage in 1998. Despite the adversity, Google is still delivering robust financial growth to its corporate parent Alphabet Inc., which is currently valued at $2 trillion. Alphabet’s shares dipped slightly during Tuesday’s late morning trading. Michael Liedtke, AP technology writer
Category:
E-Commerce
Its official: You won’t be able to afford as many dolls as in the past. Thats based on Mattels first quarter financial report, released yesterday. While the results indicated that the company had a resilient first quarter, it also foreshadowed price hikes to come. In a meeting with investors, the company reported net sales of $827 million for the period, up 2% year over year, but pulled its full-year 2025 guidance, given the volatile macroeconomic environment and evolving U.S. tariff situation. Mattel CEO Ynon Kreiz also shared that while Mattel has a three-pronged plan to mitigate tariff-based losses, prices for some products are expected to rise. The Barbie-makers report comes as President Trump has turned dolls into a kind of symbolic flashpoint in his ongoing trade war. According to the Toy Association, a national industry group, nearly 80% of the toys sold in the U.S. are sourced from Chinameaning that toy and doll companies have been scrambling to absorb the impact of Trumps 145% tariff on Chinese goods. Last week, the president commented on reports that store shelves could soon be empty due to the tariffs on China, and the resulting tanking import volume, by acknowledging potential price hikes. Somebody said, Oh, the shelves are going to be open, the president told reporters. Well, maybe the children will have two dolls instead of 30 dolls, and maybe the two dolls will cost a couple of bucks more. Now, it appears that the presidents uncharacteristically frugal suggestion is inching closer to becoming a reality as Mattel is forced to rethink its supply chain and prices in order to offset the cost of Trumps tariffs. Mattel has a 3-part tariff mitigation strategy On yesterdays call, Kreiz told investors that Mattels tariff-mitigation plan includes three main approaches: Accelerating diversification of our supply chain and further reducing reliance on China-sourced products, optimizing product sourcing and product mix, and where necessary, taking pricing action in our U.S. business. Shifting the supply chain away from China is one of Mattels top priorities for a reason. The U.S. represents about half of Mattel’s global toy sales, and the company imports about 20% of its goods sold in the U.S. from China, according to a Reuters report. Mattel told Reuters it would reduce imports into the U.S. from China to below 15% by 2026. The company was planning to reduce reliance on Chinese manufacturers even before Trump took office, assuring investors back in December that, in 2025, Mattel will source less than 40% of its goods from China, as opposed to the industry average of over 80%. Ultimately, there will be price hikes on playtime But for Mattel, these supply chain steps likely still wont be enough to absorb tariff-based fees, which company finance chief Anthony DiSilvestro said in a post-earnings call are expected to reach $270 million in incremental costs over the course of the year, starting in the July quarter. As an added measure, Kreiz told investors that consumers can expect pricing adjustments on some products. While he didnt share details on specific products or price increases, he did predict that 40% to 50% of all Mattel product will remain at or under the $20 threshold. This is something we are committed to do, Kreiz told CNBC this morning about the new prices. To continue to create quality product and find the right balance of price and value, all in the service of the consumer. Deeper supply chain disruption could be yet to come The Mattel price increase announcement comes amid deep disruption to store supply chains, which are expected to increase as U.S. imports from China plummet and stockists pause orders. There was a nearly 43% drop in containers received from China, week over week, between April 21 and April 28, according to port data from Vizion. Retailers typically place orders for the holiday season around now as well, indicating a possible negative downstream effect later in the year. We have a frozen supply chain that is putting Christmas at risk, Greg Ahearn, chief executive of the Toy Association, told The New York Times. However, consumers could notice reduced product availability and purchasing power even sooner. Retail inventories may actually look lean in coming months, a May report from the Bank of America Institute stated. Fast Company has reached out to Mattel for more specific examples of the coming price hikes. The company did not respond by time of publication.
Category:
E-Commerce
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