Tesla’s new car registrations plunged sharply in June, dropping 64.4% in Sweden and 61.6% in Denmark compared to last year, highlighting growing challenges for the U.S. electric vehicle maker in these Nordic markets.
Tesla experienced a significant decline in new car registrations in both Sweden and Denmark in June. According to data from Mobility Sweden, registrations in Sweden fell by 64.4% year-on-year to just 976 vehicles. Meanwhile, Mobility Denmark reported a 61.6% drop in registrations, totaling 1,282 cars.
Tesla’s revised Model Y sales in Denmark also decreased by 31.2% compared to the previous year, indicating ongoing difficulties in boosting the brand’s performance. This marks the sixth consecutive month of declining sales for Tesla in these countries, as competitors gain traction and CEO Elon Musk faces declining popularity.
The sales data release coincided with renewed tensions between Musk and U.S. President Donald Trump over a major tax and spending bill. Following the announcement, Tesla’s shares listed in Frankfurt dropped 5.6% early Wednesday.
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An agreement between Iran and the U.S. to reopen the Strait of Hormuz is expected "soon," a U.S. official has said. The deal would result in the resumption of commercial shipping through the sea passage and the lifting of an American naval blockade on Iranian ports.
A deal on a new route for vessels through the Strait of Hormuz is "very close," Iranian Foreign Minister Abbas Araghchi has said, while warning that the reopening of the waterway depends on the U.S. meeting other conditions, including paying compensation to Iran.
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Ukrainian President Volodymyr Zelenskyy said Ukraine is increasingly penetrating Russia's air-defence network, as both sides stepped up overnight strikes on energy, logistics and port infrastructure.
Typhoon Dolphin lashed Japan’s southern Okinawa prefecture on Saturday, injuring six people, disrupting flights and leaving more than 50,000 buildings without power, as China shut ports and suspended transport services ahead of the storm’s expected arrival on its east coast.
U.S. data analytics firm Palantir Technologies has reported a 93 per cent year-on-year jump in second-quarter revenue, even as the company faces continued criticism over its work with Israel's military and allegations linking its technology to the war in Gaza.a.
Rising trade across the Caspian Sea is strengthening Georgia’s role as a logistics hub and could help the country develop higher-value industries, according to the Asian Development Bank (ADB).
Ford raised its full-year earnings forecast after reporting stronger-than-expected second-quarter adjusted profit, as resilient demand for its vehicles and operational improvements helped offset tariff-related costs.
SK Hynix reported record quarterly profit on Wednesday, but its shares slumped 10 per cent after the South Korean chipmaker fell short of investor expectations built around the artificial intelligence (AI) boom.
Oil prices have fallen more than six per cent as a pause in U.S.-Iran hostilities eased fears of wider supply disruption around the Gulf.
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