Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. 1. Stocks plunged Thursday morning in response to President Donald Trump ‘s new round of tariffs on American trading partners. The various duty rates facing imports from countries including China, Vietnam, and Cambodia are much higher than anticipated. Jim Cramer and Director of Portfolio Analysis Jeff Marks both agreed that labeling these “reciprocal tariffs” doesn’t quite capture the situation, given the formula that was used to calculate the duty levels. Jeff pointed out that the White House has signaled it is not willing to negotiate just yet, so it makes it difficult to determine how long these tariff levels will be in place. 2. Even with the Nasdaq down nearly 5% at the time Thursday’s meeting started, Jim urged investors to keep a level head and be willing to determine which stocks deserve to be down, and which are being unfairly wrapped up in the selling. “I’m going to say something very bold here. I think we are down 5% in the Nasdaq. You have to start picking. You have to start looking,” Jim said, noting that companies with a high percentage of domestic sales such as Texas Roadhouse are good places to look. Jim also mentioned Costco as relatively well-protected. “I refuse to be negative as [bond yields] go down, because my advice to people is when rates go down, that trumps everything, including tariffs,” Jim said. The 10-year Treasury yield on Thursday touched its lowest levels since October and traded around 4.02%. Lower yields typically translate to lower borrowing costs on key loan types such as mortgages. 3. The selling extended to commodities such as oil, with U.S. crude benchmark WTI falling 7.5% to roughly $66 a barrel. In addition to tariff-related demand fears, a group of producers in the so-called OPEC+ alliance agreed to speed up their output hikes, which added further pressure to prices. Club name Coterra Energy was getting hit on this one-two punch, down about 5%. Jim noted that Coterra’s natural gas business gives it the flexibility to change its production mix toward whichever commodity is more favorably priced. The stock “shouldn’t be down” as much as it is Thursday, Jim said. (Jim Cramer’s Charitable Trust is long CTRA, TXRH, COST. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Tesla’s sales have fallen 87% in Quebec in the first quarter 2025 compared to the same period last year.
The critical Canadian market has been wiped out, and Tesla is no longer importing new vehicles.
Quebec is the leading EV market in Canada, with the highest adoption rate of new electric vehicles.
That’s due to incentives, cheap hydro electricity, and a strong base of EV enthusiasts.
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As the EV leader in North America, Quebec became an important market for Tesla.
However, Tesla’s market in Quebec is now gone.
We don’t have all Canadian data for vehicle registrations in the first quarter; however, Le Devoir managed to obtain data for Quebec from the Société d’assurance automobile du Québec (SAAQ), which revealed that Tesla delivered only 524 vehicles in Quebec during Q1 2025.
That’s down 87% compared to Q1 2024.
The pause in the Quebec and federal EV incentive programs contributed to the sharp decline, but the pause also happened in the quarter, which helped sales by creating urgency to buy and take delivery.
However, it also created an awkward situation for Tesla in which it was accused of filing thousands of questionable requests for incentives worth $42 million CAD, which it later claimed was a backlog of deliveries that it hadn’t filed yet.
This controversy added to growing brand damage for Tesla in Quebec and the broader Canada due to its CEO Elon Musk’s backing of Donald Trump, who is openly calling for the US to annex Canada.
Tesla’s Canadian Troubles are not over
While Q1 2025 was bad, Q2 could prove even worse. Tesla had to increase prices in Canada in April due to the Canadian government slapping 25% tariffs on its vehicles in response to Trump’s trade war.
The combination of the end of some incentive programs, the higher prices, and the degrading sentiment for Tesla in Canada and Quebec is leading to very few sales in the market.
A source familiar with the matter said that Tesla doesn’t plan to import more vehicles in the country this quarter due to low demand.
The broader EV market in Canada declined 45% in Q1 due to the pause in the incentive program, but Tesla’s decline was much sharper, indicating larger issues than just the lack of incentives.
Electrek’s Take
The situation for Tesla in Canada is even worse than in Europe right now. It’s not the largest market in terms of size, but it has a significantly higher EV adoption rate than the US and has helped Tesla in North America.
As long as the tariffs are in place, there’s little hope for Tesla in Canada.
Even if they are removed, which I hope happens soon, as it would mean a de-escalation of Trump’s dumb and illegal trade war, Tesla is still going to have major brand issues due to Musk’s backing of Trump and him saying some foolish things like “Canada is not a real country.”
All of those factors add to Tesla’s aging and limited lineup, which too heavily relies on Model Y, which had a refresh that wasn’t significant enough to revitalize sales.
It’s really hard to be optimistic about Tesla right now.
In Canada, Tesla currently has some inventory of the new Model Y, which it managed to secure before the tariffs. If you’re interested in a Cybertruck, there are plenty available. Although, I have a feeling that you are better off waiting a bit as I assume prices will come down.
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Kia’s smallest and most affordable EV is already creating quite the buzz. The EV2 will sit below the EV3 in Kia’s expanding EV lineup. With its official launch approaching, the Kia EV2 was spotted on public roads, giving us a closer look at the upcoming electric SUV.
Take a closer look at the Kia EV2 caught on public roads
Although the EV2 will likely only be around 4,000 mm (157″) long, Kia promises it won’t feel so small when you’re actually in it.
Last month, we got a sneak peek of the interior at Milan Design Week. During an exclusive event, Kia showcased the EV2 concept and revealed a few new details we can expect to see.
Kia designed the EV2’s interior to be a relaxing retreat from the city’s hustle and bustle, sort of like a porch or balcony. Thanks to its flat floor layout, the SUV offers flexible seating. By folding the second-row seats and pushing the front seats forward, the EV2 offers an open space to stretch out or “enjoy a meal,” according to Kia.
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Although no other details were offered, like Kia’s newer EVs, you can expect to see its new ccNC panoramic infotainment system with dual 12.3″ driver and navigation screens.
After the EV2 was spotted driving on public roads, we are getting a better look at Kia’s upcoming electric SUV. The video from ShortsCar reveals a front-end design similar to that of the EV3, EV5, and EV9, featuring its signature vertical daytime running lights (DRLs) and Star Map lightning.
Kia EV2 driving on public roads (Source: ShortsCar)
Despite its small size, the EV2 has a surprisingly large presence on the road, thanks to its upright stance and broad wheel arches, reminiscent of the larger EV9.
A production version of the EV2 was also spotted in Germany this week, with its European debut just around the corner. The images by SH Proshots (via TheKoreanCarBlog) show a similar design to the model caught driving in Korea.
Kia will launch the EV2 in Europe and other regions in early 2026. Prices and final specs will be revealed closer to then, but the EV2 is expected to arrive with a WLTP range of around 300 miles (483 km). Smaller battery options could offer less range at a lower price.
Since it’s slated to sit below the EV3, which is 4,300 mm (169″) long, the EV2 is expected to be closer to 4,000 mm (157″) in length.
Like Kia’s other electric vehicles, it will be based on Hyundai’s E-GMP platform, which also underpins its IONIQ series.
Kia’s CEO, Ho-Sung Song, told Autocarthat the company plans to launch the EV2 in the UK with prices starting at about £25,000 ($32,000). Since that was a few years ago, plans could have changed. We will learn more soon. Check back for the latest.
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Voltpost, a startup that turns existing lampposts into EV chargers, has officially launched its first public charging site in Oak Park, Illinois. The curbside charger, installed in partnership with the Park District of Oak Park and utility ComEd, brings easy, affordable EV charging access right to the neighborhood.
Instead of building entirely new charging stations, Voltpost retrofits existing lampposts with a modular Level 2 charging platform. That means less construction, lower costs, and quicker deployment – Voltpost says its EV charger can be installed on a lamppost in minutes. It’s controlled via a mobile app, and it’s designed to serve public spaces like curbs and parking lots, as well as private locations like university campuses and apartment complexes.
“The deployment of a Voltpost charger in Oak Park will expand EV charging access for the local community and help catalyze the transition to sustainable transportation,” said Voltpost CEO and cofounder Jeffrey Prosserman. “This builds on our work in New York and Michigan, and it’s a step toward scaling our platform nationwide.”
Voltpost says its approach is more sustainable and equitable, since it’s using infrastructure that’s already there instead of building from scratch. And it opens up EV charging to more people who don’t have a private driveway or garage.
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Kassie Porreca, president of the Park District Board of Commissioners, said, “Ensuring the residents of Oak Park benefit from affordable access to EV charging infrastructure is vital to fulfilling our commitment to serving the needs of our community.”
Najwa Abouhassan, senior manager at ComEd and a liaison for the 2c2i climate tech initiative, said this project connects innovation with community impact. “We’re proud to support Voltpost’s mission to bring sustainable, street-level charging to the places people live and work.”
With this first public site now live, Voltpost says it’s aiming to expand across the country, turning more streetlights into smart charging hubs for EV drivers.
In 2023, Voltpost participated in the New York City Department of Transportation (DOT) Studio program, a collaboration between the NYC DOT and Newlab. In its pilot, Voltpost installed chargers on lampposts at Newlab in Brooklyn and in a DOT parking lot. The chargers were installed in an hour, operated with a high uptime, and got positive feedback from EV drivers.
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