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British motorists can now lease a Tesla electric vehicle for just over half of what they would have paid a year ago, The Times reported on Monday, citing industry sources. Tesla has been forced to offer discounts of up to 40% to car leasing companies to shift more units, the report said. The discounts are also due to the lack of storage space for Tesla vehicles in the UK, the report said. Reuters could not immediately confirm the report. Tesla did not immediately respond to a Reuters request for comment. Tesla’s July sales in the UK fell about 60% to 987 units in July, according to the latest data from the Society of Motor Manufacturers and Traders (SMMT). British new car registrations overall fell about 5% year-on-year in July, according to the SMMT. Battery electric vehicles are now projected to account for 23.8% of new registrations in 2025, slightly up from SMMT’s previous forecast of 23.5%. Gnaneshwar Rajan, Reuters
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Want more housing market stories from Lance Lamberts ResiClub in your inbox? Subscribe to the ResiClub newsletter. As public homebuilders work to clear rising levels of unsold completed inventory in softer Sun Belt housing markets, theyre not only upping their incentive spend for homebuyerstheyre also stepping up efforts to attract the housing markets biggest investor group: mom-and-pop landlords. Look no further than this week Lennar launching the Lennar Investor Marketplace. The homebuilderwhich has a $34 billion market capitalizationsays the portal allows investors at any level to browse curated new homes and make informed, data-driven decisions. After creating an account, investors can view Lennar homes for sale nationwide. For the Florida build below in Manatee County, the site displays Lennars current offer (a 7/6 ARM at a 4.99% interest rate) along with the projected rental yield based on estimated rent and cash flow. Lennars new investor site automatically inputs several figures (including expected monthly rent, down payment, and home price appreciation) to calculate the yield/return for the given home. It might be wise to take those assumptionsin particular for future home price appreciationwith a grain of salt. The good news is that the site also allows investors to adjust those figures to see how those assumptions would shift the return/yield. The fact that Lennar just built and launched an investor marketplace comes as unsold completed single-family new construction has climbed to a 15-year high: June 2018 > 62,000 June 2019 > 79,000 June 2020 > 66,000 June 2021 > 34,000 June 2022 > 38,000 June 2023 > 69,000 June 2024 > 99,000 June 2025 > 119,000 The June 2025 figure (119,000 unsold completed new homes) published last week is the highest level since July 2009 (126,000). While there has been an increase in slack in the new construction market, it isnt evenly distributed. The greatest softnessand build up in both unsold resale inventory for sale and unsold completed new homes for salecan be found in pockets of the Mountain West, Southwest, and Southeast. In particular, housing markets like Tampa, Austin, San Antonio, Nashville, Dallas, Cape Coral, and Punta Gorda. !function(){"use strict";window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}})}(); Among homebuilders trying to prevent a bigger pullback in sales amid this softer housing market environment, Lennar is the most aggressive builder on the incentive front. Last quarter, Lennar spent the equivalent of 13.3% of the final sales price on sales incentives, such as rate buydowns. For a $400,000 home, that translates to $53,200 in incentives. According to John Burns Research and Consulting [see their historical chart here], thats the highest incentive level Lennar has offered since 2009and its significantly higher than Lennars cycle low in Q2 2022, when it spent 1.5% of the final sales price on sales incentives. Big picture: Theres greater slack in the new construction market now than a few years ago, giving buyers and investors some leverage in certain markets to negotiate better deals with homebuilders.
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Another reason to love the last weeks of summer: You may be able to see the northern lights tonight and tomorrow night in over a dozen northern states. If you missed the recent Perseid meteor shower, don’t fret, this light show is forecast to run Monday, August 18 through Wednesday, August 20, in Washington, Idaho, Montana, North Dakota, South Dakota, Minnesota, Iowa, Wisconsin, Michigan, New York, Vermont, New Hampshire, Maine, and Alaska, according to the National Oceanic and Atmospheric Administration’s (NOAA) Space Weather Prediction Center. The agencys three-day forecast is predicting minor, G1 geomagnetic storms (on a scale of G1 to G5). During these storms, a stream of solar wind from a coronal hole on the sun creates the aurorasor swaths of blue, green, and purple in the skywhen it reaches Earth. When is the best time to see the northern lights? The aurora borealis is usually best observed after sunset or just before sunrise, away from well-lit areas, per the NOAA. The best time to see this week’s northern lights is between 10 p.m. and 4 a.m., according to ABC News, as the moon is expected to rise in the early morning hours, making the sky appear even darker and increasing the chance of seeing swaths of pink and green light. The NOAA predicts increased solar activity will remain high through 2025 and into 2026 as a result of an 11-year sun cycle peaking through October. You can track the aurora on the NOAAs page, where the agency is providing updates.
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