GM to take a $1.6B hit as tax incentives for EVs are slashed
General Motors had led the way among U.S. automakers with plans to convert production to an electric fleet of vehicles.
Auto Industry
US opens Tesla probe after more crashes involving self-driving technology
The National Highway Traffic Safety Administration said in a filing dated Tuesday that it has 58 incident reports of Tesla vehicles violating traffic safety laws while operating in full self-driving mode.
Stellantis planning $10B in US turnaround investments, sources say
Stellantis’ actions would mirror those of companies unveiling big investment plans to curry favor with President Donald Trump and mitigate the impact of tariffs.
Tesla reports surprise increase in car sales in third quarter
The electric car maker likely benefited from a rush by consumers to take advantage of a $7,500 credit before it expired on Sept. 30.
Car sales expected to surge as buyers raced to nab lapsing EV credit
Most industry observers forecast a slowdown in EV sales in the coming quarters, because without the federal incentives, the vehicles are still more expensive than gas-powered cars.
To keep up with growing car prices, many borrowers turn to 7-year loans
Six-year loans, at one time considered the upper end of the range, are now the most common, accounting for 36.1% of loans in the second quarter.
Toyota reports 37% drop in profit, cuts forecast due to Trump’s tariffs
Toyota’s production facility in Princeton, Indiana, is operated through its Toyota Motor Manufacturing Indiana subsidiary, which is the 15th-largest employer in the state.
Trump’s EPA targeting key vehicle-emissions rules. Here’s what that means for carmakers.
The Environmental Protection Agency’s plan this week to relax rules aimed at cleaning up auto tailpipe emissions is the latest Trump administration move to undo incentives for automakers to go electric.
Stellantis CEO targets US turnaround as carmaker faces $1.7B hit from tariffs
Of the 16 million cars Stellantis produces for sale in the U.S. market, 8 million are made in domestic plants, and another 4 million in Canada and Mexico—all with a large number of U.S. components.
US automakers say Trump’s tariff deal with Japan puts them at disadvantage
U.S. automakers say they will face steeper import taxes on steel, aluminum and parts than their competitors.
New tax break for auto loans could save some buyers thousands of dollars. But will it boost sales?
Under President Donald Trump’s new tax-cut law, many people for the first time could claim a tax deduction for interest on their vehicle loans. But there are caveats, including whether the vehicle was assembled in the U.S.
Tesla sales plunge again as anti-Musk boycott shows staying power
A June AP-NORC poll showed about half of U.S. adults have an unfavorable opinion of Tesla, including 30% of Republicans.
Layoffs from tariffs ripple across the auto-parts industry
President Trump’s shifting stances on trade and tariffs have upended the planning of many companies that provide parts and equipment to big automakers.
Retail sales slid in May as Americans turned cautious
The figure was pulled down by a steep drop in auto sales, after Americans ramped up their car-buying in March to get ahead of a 25% duty on imported cars and car parts.
Allison Transmission to acquire Dana Inc. business unit for $2.7 billion
The business unit employs about 11,000 people in 25 countries. Allison did not specify if any jobs would be negatively affected by the deal.
GM to invest $4B to shift some production from Mexico to United States
The company will add production of the gas-powered Chevrolet Blazer and Chevrolet Equinox, which are made in Mexico, to two American plants starting in 2027.
Stellantis names Italian car executive Antonio Filosa its new CEO
Filosa is currently Stellantis’ chief operating officer for the Americas and chief quality officer.
Senate votes to block California’s rule banning sale of new gas-powered cars by 2035
California makes up roughly 11% of the U.S. car market, giving it significant power to shape purchasing trends.
Honda pulls back on EV strategy for now, will push hybrid sales
Honda said Tuesday that electric vehicle sales were slowing in the U.S., prompting the automaker to scrap its previous goal for EVs to be 30% of its global vehicle sales by 2030.
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.