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.
Auto Industry
Articles
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.
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.