New car registrations across the European Union rose slightly in October, driven by strong performances in Germany and Spain, according to the latest data from the European Automobile Manufacturers’ Association (ACEA). The EU saw a 1.1% increase in new car registrations for the month, with notable growth in two major markets.

Germany’s car registrations rebounded by 6%, reversing three months of declines, while Spain experienced a robust 7.2% increase. However, not all countries saw growth. Italy’s new car registrations fell by 9.1%, and France also experienced a decline, with a 11.1% drop in registrations.

Looking at the year so far, new car registrations in the EU have risen by 0.7% from January to October, reaching approximately 8.9 million units. Italy saw a modest increase of 0.9%, while Spain posted a 4.9% rise. However, both Germany and France have faced declines in new car registrations, with Germany down by 0.4% and France experiencing a 2.7% drop over the same period.

Sigrid de Vries, ACEA’s director general, commented on the trend, highlighting the challenges faced by the electric vehicle (EV) market. “The latest year-to-date figures on market volume for battery electric (-4.9%) and plug-in hybrid cars (-7.9%) underline the urgent need to increase efforts to support the transition to zero-emissions vehicles,” de Vries said. She stressed the need for greater incentives and an expanded network of charging stations to encourage consumer adoption.

Battery-electric vehicles (BEVs) have seen a decline in sales, with a 4.9% drop in registrations in the first 10 months of 2024 compared to the same period last year. This decrease was primarily driven by a significant 26.6% drop in registrations in Germany. However, BEV registrations in October saw a slight uptick, increasing by 2.4% to 124,907 units.

Similarly, plug-in hybrid vehicle registrations also faced challenges. These vehicles dropped by 7.9% year-to-date, with disappointing performances in Italy and France. In October, plug-in hybrid car registrations fell 7.2%, reducing their market share to 7.7%, down from 8.4% in October 2023.

The slump in EV sales can be attributed to a combination of factors, including rising energy prices, insufficient incentives, and a lack of charging infrastructure. Additionally, higher tariffs on Chinese electric vehicles, following concerns over government subsidies, have made these cars significantly more expensive in Europe. This price increase, along with ongoing economic uncertainty and rising interest rates, has led to a dampened consumer appetite for electric vehicles.

With global economic pressures and geopolitical uncertainty also weighing on consumer sentiment, the EU faces significant hurdles in meeting its ambitious targets for the transition to zero-emissions vehicles.

Comcast has announced plans to spin off its NBCUniversal cable television arm as part of a strategy to adapt to the challenges posed by streaming services like Netflix and Amazon Prime. The move, which was confirmed on Wednesday, aims to create a new company encompassing cable networks such as MSNBC, CNBC, USA, E!, Syfy, and the Golf Channel.

While the networks remain profitable, generating a combined revenue of $7 billion (£5.5 billion) in the year ending in September, the shift reflects the changing landscape of the media industry. Comcast will retain control of the NBC broadcast network, its film and television studios, its theme parks, and its Peacock streaming service. The company anticipates completing the spin-off within a year.

Executives believe that by separating the cable networks, Comcast will be in a better position for growth, particularly as traditional cable TV continues to see a decline in viewership. They also indicated that the newly formed company will be well-positioned to acquire additional cable networks that may become available in the future.

The new company will be led by Mark Lazarus, the chairman of NBCUniversal’s media group, who will serve as its CEO. Lazarus expressed optimism about the future, stating, “We see a real opportunity to invest and build additional scale, and I’m excited about the growth opportunities this transition will unlock.”

Comcast’s president, Michael Cavanagh, hinted at the potential move during a call with investors last month, suggesting the creation of a new, well-capitalized company that would manage its portfolio of cable networks.

Comcast acquired NBCUniversal in 2011, before the rise of streaming giants disrupted the cable TV market. At the time, its cable networks were seen as highly valuable assets. However, the decline of traditional cable subscriptions and the shift toward streaming platforms have led to reduced audience numbers for Comcast’s cable networks, which currently reach approximately 70 million U.S. households.

The decision follows similar moves by other media giants. Earlier this year, Warner Bros. and Paramount Global cut billions of dollars from the valuation of their cable TV networks. Comcast is the first major media company to officially announce the separation of its cable business, although Walt Disney had previously considered a similar strategy before abandoning the plan.

Following the announcement, shares in Comcast were set to open about 2% higher in New York trading.

Tesla’s plans for autonomous ride-hailing services could be a step closer to becoming reality, with recent developments suggesting that regulatory obstacles may soon be overcome. Shares in the electric carmaker surged more than 5% on Monday after Bloomberg reported that President-elect Donald Trump’s transition team intends to prioritize the establishment of a new federal framework for self-driving car regulations at the U.S. Department of Transportation.

This proposed regulatory shift could significantly benefit Tesla, which has been focused on advancing its Full Self-Driving (FSD) technology and its Robotaxi business. Tesla CEO Elon Musk, a vocal supporter of Trump during his presidential campaign, has tied the company’s future to these innovations, viewing autonomous ride-hailing as a critical growth avenue.

Tesla’s market capitalization has already surpassed $1 trillion (€0.94 trillion) since Trump’s election victory, with the company’s shares soaring 37% since Election Day. Despite global competition, including from Chinese rivals, Tesla has seen impressive growth, and the proposed changes to federal regulations could accelerate its expansion further.

From Electric Vehicles to Autonomous Vehicles

Musk, who took the helm of Tesla in 2008, has long been seen as a driving force behind the electric vehicle (EV) revolution. However, as global demand for EVs has weakened and competition has increased, Tesla has focused on finding new growth opportunities. In October, Musk revealed the Tesla Robotaxi, an autonomous Cybercab service that operates without a steering wheel or pedals. The service would use cameras and artificial intelligence for navigation, with costs projected to be as low as €0.18 per mile. Tesla plans to begin the service in Texas and California by 2025, with broader expansion contingent on regulatory approvals. The company aims to start mass production of the Cybercab by 2026.

Regulatory Hurdles Ahead

Despite Musk’s ambitious goals, Tesla’s FSD technology has faced scrutiny. In the U.S., manufacturers are allowed to deploy only 2,500 self-driving vehicles per year under National Highway Traffic Safety Administration (NHTSA) exemptions. Tesla’s FSD system, which still requires driver oversight, came under investigation last month after a fatal pedestrian accident involving a Tesla vehicle in autonomous mode. Tesla’s fully autonomous vehicles, which lack steering wheels and pedals, will face significant regulatory challenges.

However, the Trump administration’s proposed regulatory changes could help smooth the path for Tesla’s self-driving cars. Any new rules will need bipartisan support from Congress, meaning the transition could face delays, but the shift would nonetheless represent a major step forward for the company.

Global Autonomous Vehicle Progress

Progress in the U.S. could spur similar advancements in other regions. In the European Union, Germany has already developed frameworks for level 3 and level 4 autonomous driving, with vehicles at these levels expected to be on the road by 2025. Tesla aims to launch its FSD vehicles in Europe and China in early 2025, aligning with these regulatory timelines.

In China, Tesla’s key market, autonomous driving is also advancing rapidly. The government has selected 20 cities for a pilot program on smart-connected vehicles, with an estimated 250,000 level 4 autonomous vehicles projected to be sold for mobility services by 2034.

With regulatory frameworks in the U.S., EU, and China evolving, Tesla’s ambitious Robotaxi service could transform the company’s future and reshape the global transportation landscape.