Latest news with #Seagull
Yahoo
3 hours ago
- Automotive
- Yahoo
The clock is ticking on Tesla's mysterious new cheaper models
Fans and investors are still in the dark about Tesla's mysterious new "affordable" EVs. Tesla said new models would start production in the first half of 2025, but it has yet to reveal any details. Tesla faces slow sales and fierce competition, with analysts saying its fundamentals are worse than expected. Tesla is gearing up to finally launch its robotaxi service, but the company is drawing close to another equally important deadline. As Elon Musk gets set to begin offering robotaxi rides to a select group of invitees in Austin this weekend, Tesla fans are still waiting for news about the company's long-awaited low-cost electric cars. In January, Tesla said that it would start production on new models, "including more affordable models," in the first half of 2025. In the automaker's earnings in April, Tesla reiterated this timeline, with Vice President of Vehicle Engineering Lars Moravy saying the company was working through "last-minute issues" on the new cars. That deadline is fast approaching, and there is little sign that Tesla is gearing up for a major product launch. Tesla did not immediately respond to a request for comment from Business Insider. The stakes for the EV giant are high. Tesla has seen its sales collapse across the globe so far this year, as it grapples with consumer backlash over CEO Musk's politics and production disruptions due to a refresh of its best-selling Model Y EV. Analysts previously told Business Insider that Tesla's stale product lineup is not helping matters. The carmaker has not launched a new vehicle since the Cybertruck in 2023, and the angular pickup's sales have been underwhelming. Even as Tesla's product lineup has stagnated, its rivals have launched a flurry of new electric models. Much of this competition has come from China, where a brutally competitive EV market has pushed Chinese companies like BYD to launch new models at rock-bottom prices. Data from industry group EV Volumes found that although Tesla's Model Y and 3 were still the top-selling electric cars in the world in the first four months of the year, their sales are coming under pressure from BYD's Seagull and the Wuling Mini, two affordable, compact city cars that sell for the equivalent of less than $10,000 in China. Some analysts have already begun to sound the alarm bells. In a note this week, Wells Fargo analysts Colin Langan and Kosta Tasoulis said that Tesla's business fundamentals were worse than expected, with deliveries failing to recover in the second quarter. The analysts also warned that the recent Senate ruling to end California's zero-emission rules would remove the need for automakers to buy regulatory credits from Tesla, which they estimated could cut Tesla's earnings before tax and interest by as much as 16%. Langan and Tasoulis said demand for the refreshed Model Y, which Tesla began rolling out earlier this year, "appears weak," adding that the mysterious affordable models were the only apparent driver of sales in the second half of the year. Despite their importance, it's still unclear what the new models hinted at by Tesla will look like. Tesla has said they will be produced on the same manufacturing lines as its current vehicles and will use aspects of the same platform. Reuters has reported that the new models will include a stripped-down version of the Model Y, production of which has been delayed by several months, according to anonymous sources. For now, it seems Musk and Tesla are mostly focused on the 10 or so robotaxis set to launch in Austin, leaving a major question mark over the rest of the company's product roadmap. Read the original article on Business Insider Sign in to access your portfolio
Business Insider
9 hours ago
- Automotive
- Business Insider
The clock is ticking on Tesla's mysterious new cheaper models
Tesla is gearing up to finally launch its robotaxi service, but the company is drawing close to another equally important deadline. As Elon Musk gets set to begin offering robotaxi rides to a select group of invitees in Austin this weekend, Tesla fans are still waiting for news about the company's long-awaited low-cost electric cars. In January, Tesla said that it would start production on new models, "including more affordable models," in the first half of 2025. In the automaker's earnings in April, Tesla reiterated this timeline, with Vice President of Vehicle Engineering Lars Moravy saying the company was working through "last-minute issues" on the new cars. That deadline is fast approaching, and there is little sign that Tesla is gearing up for a major product launch. The stakes for the EV giant are high. Tesla has seen its sales collapse across the globe so far this year, as it grapples with consumer backlash over CEO Musk's politics and production disruptions due to a refresh of its best-selling Model Y EV. Analysts previously told Business Insider that Tesla's stale product lineup is not helping matters. The carmaker has not launched a new vehicle since the Cybertruck in 2023, and the angular pickup's sales have been underwhelming. Even as Tesla's product lineup has stagnated, its rivals have launched a flurry of new electric models. Much of this competition has come from China, where a brutally competitive EV market has pushed Chinese companies like BYD to launch new models at rock-bottom prices. Data from industry group EV Volumes found that although Tesla's Model Y and 3 were still the top-selling electric cars in the world in the first four months of the year, their sales are coming under pressure from BYD's Seagull and the Wuling Mini, two affordable, compact city cars that sell for the equivalent of less than $10,000 in China. Fears grow over fundamentals Some analysts have already begun to sound the alarm bells. In a note this week, Wells Fargo analysts Colin Langan and Kosta Tasoulis said that Tesla's business fundamentals were worse than expected, with deliveries failing to recover in the second quarter. The analysts also warned that the recent Senate ruling to end California's zero-emission rules would remove the need for automakers to buy regulatory credits from Tesla, which they estimated could cut Tesla's earnings before tax and interest by as much as 16%. Langan and Tasoulis said demand for the refreshed Model Y, which Tesla began rolling out earlier this year, "appears weak," adding that the mysterious affordable models were the only apparent driver of sales in the second half of the year. Despite their importance, it's still unclear what the new models hinted at by Tesla will look like. Tesla has said they will be produced on the same manufacturing lines as its current vehicles and will use aspects of the same platform. Reuters has reported that the new models will include a stripped-down version of the Model Y, production of which has been delayed by several months, according to anonymous sources. For now, it seems Musk and Tesla are mostly focused on the 10 or so robotaxis set to launch in Austin, leaving a major question mark over the rest of the company's product roadmap.
NDTV
a day ago
- Automotive
- NDTV
BYD Seagull Tops Global EV Charts- Should India Be Its Next Stop?
BYD, the Chinese manufacturer, has earned its position among the largest EV manufacturers in the world. To improve its position further, the automaker is getting a lot of help from its affordable model sold in the global market, i.e., Seagull. The EV has breached the one million sales within 25 months of its launch. It comes at a starting price of 69,800 Yuan (Rs 8 lakh) in its home market and has been recently launched in the European market with the name Dolphin Surf. Probably, the affordable pricing of the BYD Seagull, along with its compact design, has helped it climb the ladder of popularity. For a while, it even raced past the Tesla Model Y in 2024 in China's EV charts. To top it off, the electric vehicle even outsold multiple cars, including petrol models, registering a dispatch of 60,131 units in May 2025. However, in terms of direct rivalry, the Seagull stands against models like VW ID.2 and the Fiat 500e. Also Read: The Dolphin Surf, which is the European variant of the BYD Seagull model, is available in three trims: Active, Boost, and Comfort. The Active trim features a 30 kWh battery, whereas the Boost and Comfort trims are equipped with a 43.2 kWh battery. According to WLTP standards, the Dolphin Surf can achieve a range of up to 507 km on a single charge. It also offers DC fast charging capabilities, enabling the battery to go from 10 percent to 80 percent in just 30 minutes. Considering the affordability factor along with the aforementioned specs, the BYD Seagull has the potential to improve the automaker's position in the Indian market. However, BYD is presently focused on capturing the premium market in the country with models like Atto 3, Seal and Sealion.
Time of India
6 days ago
- Automotive
- Time of India
Buffett's BYD bet outshines Tesla slump, Berkshire's China play defies EV price war and hype, value over volatility drives EV future
Warren Buffett's calculated, long-horizon investment in China's BYD is proving to be one of his most consequential bets in the electric vehicle (EV) industry — not just in terms of returns, but in how clearly it contrasts with his conscious avoidance of Elon Musk's Tesla. While Tesla grapples with a global slowdown, Buffett's BYD stake is becoming a case study in value investing outlasting market hype. Back in 2008, Berkshire Hathaway stunned markets with its $230 million investment for a 9.9% stake in BYD. More than 15 years later, even after trimming its holdings below 5% in 2024, Berkshire's position is now worth between $6 billion and $8 billion. The gradual reduction is widely viewed as profit-booking, not a retreat — the underlying message is clear: Buffett was right early, and he's still winning. BYD races ahead of Tesla In March 2025, BYD surpassed Tesla in quarterly automotive revenue for the first time, signaling a deep shift in EV industry leadership. BYD sold 1.76 million battery-electric vehicles (BEVs) in 2024, nearly matching Tesla's 1.79 million, and far outpaced its rival in total new energy vehicle (NEV) sales — including plug-in hybrids — reaching 4.27 million units, according to an ET report. In Europe, BYD edged past Tesla in April 2025 BEV sales for the first time, according to JATO Dynamics, buoyed by strong demand for practical, cost-efficient models built around its proprietary Blade Battery technology. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo BYD's approach to vertical integration and low-price offerings like the Seagull and Dolphin has helped it maintain margins in a brutal price war. Tesla, meanwhile, reported a 13% year-on-year drop in Q1 2025 deliveries — the first full-year decline came in 2024. The company is struggling with factory delays, increasing competition from Chinese rivals, and growing discomfort with Elon Musk's political controversies, which have sparked consumer backlash in key markets. The EV price war and Buffett's prudence The EV price war, triggered by Tesla's early 2023 price cuts, turned into an all-out battle. Chinese automakers — BYD foremost among them — slashed prices, sacrificing margin for market share. Unlike Tesla, BYD had a cost advantage: its in-house battery production and localized supply chains made it more resilient. Tesla's margin erosion has been sharpest in Europe and China. Observers say Musk's increasingly political public persona has hurt the brand's appeal, particularly among environmentally conscious consumers and those wary of executive overreach. Buffett's decision not to invest in Tesla aligns with his time-tested principles. At Berkshire's 2024 annual meeting, he credited the late Charlie Munger with championing BYD: 'Charlie twice pounded the table and said, 'Buy BYD.' He was right — big time.' Buffett has always been wary of the automotive sector's capital intensity and cyclicality. Tesla's high volatility, lack of steady cash flows, and dependence on market sentiment do not meet Buffett's threshold for a durable competitive moat. Global strategy: Tesla contracts, BYD expands While Tesla has largely focused on the US and Europe, BYD is aggressively expanding into Latin America, Southeast Asia, and parts of Europe through local partnerships and manufacturing bases. This allows the Chinese automaker to avoid tariffs and offer price-sensitive models in developing markets. Even as subsidies taper in China and US tax incentives become harder to access, BYD's cost structure allows it to remain competitive in segments where Tesla's premium branding is less effective. BYD is now better positioned to ride the next wave of global EV adoption — especially in the mass-market space. Buffett's early conviction in BYD also complements his broader green energy strategy. Berkshire Hathaway Energy has committed billions to renewable infrastructure, creating a portfolio that spans solar, wind, and grid assets. The BYD investment adds depth to this long-term bet on a low-carbon economy. As Buffett once said, 'We only swing at pitches we like.' He didn't miss Tesla — he chose a better pitch. In a sector now saturated with hype, BYD stands as a testament to the power of patient capital, and Buffett's legacy in the EV revolution looks more prescient than ever. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
7 days ago
- Automotive
- Yahoo
BYD Introduces Most Affordable EV Model in the United Kingdom
BYD Company Limited BYDDY, an EV manufacturer in China, has introduced its most affordable model in the United Kingdom as part of its broader strategy to surpass Tesla as the world's leading electric vehicle manufacturer. The newly launched Dolphin Surf is the European version of BYD's top-selling Chinese model, the Seagull, which recently saw its price drop to just $7,800 in China following further the China Automobile Manufacturers Association didn't name BYD directly, it recently cautioned that ongoing price reductions are fueling fears of a renewed price war in the Chinese EV market. BYD's Dolphin Surf, priced from around $25,000, appears to be extending that pricing pressure into the United Kingdom, BYD outpaced Tesla in monthly vehicle registrations last month, selling 3,025 vehicles compared to Tesla's 2,016 units, and is on track to challenge Tesla's full-year performance. In April, BYD also overtook Tesla in European registrations for the first time, even before the Dolphin Surf entered the the UK's least expensive EV is the Dacia Spring, starting at $20,000 with a WLTP range of 140 miles. BYD's base Dolphin Surf 'Active' variant offers a 203-mile range, while the 'Boost' version extends that to 305 miles and starts at $30,000. Both models come equipped with premium features, such as a 10.1-inch rotatable touchscreen and smart driving functions. Although EVs already tend to be cheaper to own than petrol cars, the emergence of compact, low-cost EVs is seen as key to attracting more budget-conscious buyers. BYD's rapid growth in Europe continues despite the European Union imposing 17.4% tariffs on its vehicles due to concerns over Chinese government subsidies. The United Kingdom, however, has not imposed such tariffs, making it an attractive and increasingly important market for BYD. BYD has a Zacks Rank #5 (Strong Sell) at better-ranked stocks in the auto space are CarGurus, Inc. CARG, Strattec Security Corporation STRT and Michelin MGDDY, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks Zacks Consensus Estimate for CARG's 2025 sales and earnings implies year-over-year growth of 4.96% and 25%, respectively. EPS estimates for 2025 and 2026 have improved 30 cents and 44 cents, respectively, in the past 60 Zacks Consensus Estimate for STRT's fiscal 2025 sales and earnings implies year-over-year growth of 3.49% and 8.11%, respectively. EPS estimates for fiscal 2025 and 2026 have improved 73 cents and 91 cents, respectively, in the past 60 Zacks Consensus Estimate for MGDDY's 2025 sales and earnings implies year-over-year growth of 1.69% and 37.76%, respectively. EPS estimates for 2025 have improved a penny in the past 30 days. EPS estimates for 2025 have improved 3 cents in the past seven days. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Strattec Security Corporation (STRT) : Free Stock Analysis Report Michelin (MGDDY) : Free Stock Analysis Report CarGurus, Inc. (CARG) : Free Stock Analysis Report Byd Co., Ltd. (BYDDY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
