Trump agrees to cut tariffs on United Kingdom autos, steel and aluminum in trade deal
The United States already runs a trade surplus with the United Kingdom, making it a bit easier to find common ground.
Auto Industry
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After fast start, electric cars need a recharge as range limits, cost leave some drivers skeptical
Adding to the headwinds: an incoming new U.S. president who has disparaged government support for electric vehicles.
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Car loan defaults jump as consumers battle inflation, high interest rates
A Cox Automotive report finds that car repossessions nationwide are up 23% over last year and 14% compared with the first half of 2019.
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Corvette will be the first hybrid pace car in Indy 500 history
The 2024 Chevrolet Corvette E-Ray 3LZ coupe, the 21st Corvette pace car at the Indy 500, uses naturally aspirated V-8 power and electric power.
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Toyota to spend $1.4B to add EV production at Indiana plant
Production of a new battery electric vehicle at the plant is expected to result in 340 new jobs by the end of 2025, Toyota announced Thursday.
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Articles
Trump eases tariffs on imported auto parts through executive order
U.S. automakers had said the auto levies as previously announced would raise production costs and hit their profits. The auto industry is one of the biggest drivers of manufacturing jobs in the U.S. economy.
Trump to offer automakers some relief on tariffs over worries they could hurt factories
Automakers and independent analyses have indicated that the tariffs could raise prices, reduce sales and make U.S. production less competitive worldwide.
Electric vehicle maker Rivian planning service center in Fishers
The facility would be the second Rivian service center in Indiana following one that opened in March in Fort Wayne.
US to loosen rules on Tesla, other carmakers taking on China in race for self-driving cars
The Transportation Department said it will move toward a single set of national rules for the technology to replace a patchwork of state regulations.
Musk says he’ll spend less time in Washington, more running Tesla after profit plunges
The electric vehicle maker reported a 71% drop in profit and a 9% decline in revenue for the first quarter.
Retail sales jump by most in two years on car-buying rush
While autos saw the biggest advance in two years, the overall gain was broad, with 11 of the report’s 13 categories posting increases.
As Trump considers auto tariffs pause, parts exemptions could be key for industry
Though Trump says his tariffs are intended to bolster U.S. auto manufacturing, automakers aren’t able to reconfigure their sourcing in short periods of time, experts say.
Trump considers exceptions for auto parts facing 25% U.S. tariffs
President Donald Trump said he is exploring possible exemptions to his tariffs on imported vehicles and parts to give auto companies more time to set up U.S. manufacturing.
Quarterly Tesla sales drop 13% as Musk backlash, aging models hurt demand
Analysts are still not sure exactly how much the fall in sales is due to the protests or other factors. Electric car sales have been sluggish in general.
State sues General Motors, OnStar, claiming deceptive practices
The lawsuit accuses the companies of selling Indiana drivers’ personal data and driving-habit information to insurance companies without the drivers’ knowledge or consent.
Trump places 25% tariff on imported autos, expecting to bring in $100B in tax revenue
Foreign leaders were quick to criticize the tariffs, a sign that President Trump could be intensifying a broader trade war that could damage growth worldwide.
Automakers want to start banks, hoping to benefit from lighter-touch rules
In addition to the three U.S. carmakers, several other nonfinancial businesses are interested in seeking regulatory permission to launch their own banks.
Carvana announces 200-job expansion at Plainfield site
Arizona-based used-car retailer Carvana says it intends to add inspection and reconditioning services at its auto auction site in Plainfield to establish what it calls a Megasite.
Entek officially receives $1.2B DOE loan for Terre Haute plant
When operational, the facility will produce battery separators for lithium-ion battery manufacturers across the country, primarily for use in electric vehicles.
Regulators open 2 investigations into Ford over slow recalls
The largest of the probes covers about 457,000 Ford Bronco Sport SUVs and Maverick small pickups.
General Motors lays off about 1,000 workers in cost-cutting move
GM and other automakers have been navigating an uncertain transition to electric vehicles both in the U.S. and worldwide, trying to figure out where to invest capital and how fast the switch will happen.
Engines on 1.4M Honda vehicles might fail, so regulators open investigation
The agency said in documents posted on its website Monday that connecting rod bearings on vehicles with 3.5-liter V6 engines can fail, leading to complete engine failure.
Troubled carmaker Stellantis reports 27% plunge in 3Q revenue as it cleans up inventories
Shipments dropped by 20%, to 1.2 million vehicles, in third quarter. The company is in the process of 20 new product launches globally this year.
Lower-priced new cars are gaining popularity, and not just for cash-poor buyers
Across the industry, auto analysts say, an “affordability shift” is taking root. The trend is being led by people who feel they can no longer afford a new vehicle that would cost them roughly today’s average selling price.