Tesla Boosts German Factory Production Amid⁣ Rising Sales

Gruenheide, Germany – September 14, 2025, 12:52 PM ⁤ – Tesla plans ⁤to increase production at its German factory in Gruenheide for the remainder of the year, driven by strong ⁢sales figures, factory director André Thierig ⁢told the DPA news agency on Sunday.

“We currently have‌ very good ‍sales figures and have thus revised our production plans up ‌for the third and fourth quarters,” Thierig stated.

The proclamation comes despite a challenging German ⁣market for Tesla,where competition from Chinese electric vehicle⁢ manufacturers is intensifying. some analysts suggest Elon Musk’s public profile ‍and political commentary may also be impacting⁤ demand within the country.

Recent sales data ​from the KBA road transport agency indicates a downturn‌ in the ⁤German market: July sales more ​than halved year-over-year, reaching 1,110 vehicles. Total sales from ⁣January⁤ to July fell by ‌57.8%.

However,‍ Thierig indicated the positive sales trend⁢ extends beyond Germany, noting the Gruenheide factory supplies over 30 international‍ markets.”We provide ‍much more than 30 markets and we see a positive trend,” he said.

The Gruenheide facility, Tesla’s first European “Gigafactory,” has been pivotal in the company’s ⁤expansion across the continent.

Kering⁤ Shareholders to Vote on Luca de Meo’s appointment Amidst Slumping Profits

PARIS – September 9, 2025 – Kering shareholders are set to vote on ⁤the appointment of Luca de‌ Meo as the group’s new managing director, a move intended to revitalize the luxury conglomerate facing significant financial headwinds. de meo is slated to take office on September 15th.

The appointment comes as Kering grapples with a sharp decline ⁣in profits and sales, especially ⁣at its ⁤flagship brand Gucci. Shareholders will also be‍ asked to ‌approve raising ⁢the age limits⁢ for the president from 65 ‌to 80 years ⁢and ​the director general from 65 to 70 years. De Meo’s arrival is seen as a critical step in addressing these challenges​ and steering Kering back towards growth.

De Meo’s⁤ compensation package is valued at 20 million euros, to be paid 75% in cash and 25% in Kering shares. He inherits a company that reported a‍ 46% drop in net profit for the first ​half of 2025, reaching 474 million euros, ⁤alongside a 16% decrease in turnover ⁣to 7.6 billion euros.

Gucci, ​which accounts ​for 44% of Kering’s turnover and nearly two-thirds of⁢ its operational profitability, has experienced a⁢ particularly steep decline,⁢ with annual sales ​falling from ⁣10.5 billion⁤ euros ​in ⁣2022 to 7.65 billion euros in 2024. The first half of 2025 saw Gucci’s turnover collapse by 27% to 1.46 billion⁢ euros. ⁤This downturn prompted the replacement of Sabato ⁢de Sarno with Demna, formerly of Balenciaga,⁢ in March.

Beyond gucci, other Kering⁢ brands are also struggling. Yves‍ Saint Laurent sales fell 11% in the first‍ half, while‌ the “other houses” category, including balenciaga, saw a 15% decline. Only Bottega‍ Veneta and Kering Eyewear showed modest ‌growth, with sales increases of 1% and 2% respectively.

Adding to the pressure,⁣ Kering’s ‍financial debt has risen ​substantially, from near zero ​in 2021 to 9.5 billion euros ⁣in⁣ the ​first half of 2025, largely due to acquisitions like Creed perfume (30%) and Valentino,⁢ as well as real estate ​investments. ‍De Meo will be tasked ⁣with addressing this debt alongside the broader ⁢turnaround effort.

American stock market indices are falling, with the S&P 500 experiencing it’s largest drop ​(~0.4%) [[1]]. Basic consumer goods are the‍ weakest ⁢sector, while energy is showing gains. [[1]] Unemployment benefits in the US are at their⁢ highest level since⁤ June.⁤ The Stoxx 600 remains stable. The dollar and crude oil are increasing, while Bitcoin is ⁣down over 1.5% and gold is also declining.[[1]] The yield on the US Treasury at 10 years has risen to ~4.34%.

Wall Street is declining as ⁣investors await remarks from Federal Reserve President jerome Powell on ⁤Friday, seeking clarity on future monetary policy given recent job market weakness. [[1]] The ‌nasdaq Composite has ⁢fallen for three consecutive sessions, its steepest three-day‌ decline as April. Nine of eleven S&P 500 sectors are down,with basic consumer goods leading the losses at 1.2%. [[1]]

Walmart (WMT.N) fell 4.6% after missing quarterly⁣ profits⁢ and citing‌ higher⁣ costs due to tariffs, despite increased sales and profit guidance for the ⁣fiscal year. [[1]] While tech stocks have moderated their earlier declines,Nvidia (NVDA.O), Meta (META.O), ​amazon (AMZN.O), and Advanced Micro Devices (AMD.O) remain ​lower. [[1]]

According to LPL Financial strategist Adam Turnquist, concerns about Powell’s speech are weighing on risk appetite. [[1]] The probability of a rate cut in ​September has decreased to 40% from ⁢90% a week ago. [[1]]