All articles tagged with #automakers
California will offer a $3,500 instant rebate for new electric vehicles, funded by a $135 million state fund (matched by automaker grants) and part of a budget deal, to fill the gap after the federal $7,500 credit ended; the program will also include rebates for used EVs and is expected to be limited to California residents as the state maintains leadership in EV adoption.
A Bain & Company analysis (cited by CNBC) predicts the U.S. car market will shrink significantly through 2040 as population growth stalls, fertility declines, and transportation behavior shifts toward ride-hailing and SUVs. High new-car prices and rising monthly payments, along with aging buyers and a shrinking share of younger buyers, are expected to drive consolidation among automakers and a reduction in small cars; AutoForecast Solutions also forecasts flat sales for several years, highlighting profitability pressures in the sector.
The Wall Street Journal reports that the Trump administration asked Ford and General Motors to explore producing weapons and other military supplies, with CEO discussions to assess the automakers' capacity to rapidly shift from civilian to defense production to backstop traditional defense contractors amid munitions shortages. The talks, led by Mary Barra and Jim Farley, examined barriers to bidding and contract requirements, and come as the Pentagon urges expanding the defense industrial base and pursues a large munition and drone budget. It's unclear whether such manufacturing shifts would take place or when.
Trump tariffs on autos have cost automakers about $35.4 billion so far, with Toyota hit hardest; many absorb costs but rising tariffs are driving price hikes and reshaping production and EV strategy, as VinFast resumes a North Carolina plant, far-right groups gain small influence at VW/Audi works councils in Germany, Toyota recalls 550,007 Highlanders for a rear-seat latch issue, and oil-driven gas prices climb amid regional conflict.
The European Commission issued guidance creating a process for automakers to voluntarily cap their EV shipments from China and set price floors, potentially exempting these imports from anti-subsidy tariffs up to 35%. The framework follows VW's Cupra Tavascan case and requires separate approvals from the EU and member states, while raising concerns about price fixing and whether offers should be coordinated bloc-wide or from individual brands.
Apple's CarPlay Ultra, the next-gen version of CarPlay, has begun rolling out to Aston Martin and is supported by several automakers including Hyundai, Kia, Genesis, and others, but many brands like Mercedes-Benz, Audi, Volvo, and Renault have dropped support plans. The rollout timeline remains uncertain, with Hyundai's upcoming IONIQ 3 EV expected to support CarPlay Ultra in early 2026, while Ford has expressed mixed feelings about the platform. Overall, support for CarPlay Ultra is expanding but still limited, with no comprehensive list from Apple yet.
A disagreement has arisen between Sen. Ted Cruz and the Detroit Three automakers over their attendance at a January Senate hearing on vehicle affordability, which would be the first joint testimony of Detroit CEOs since 2008.
General Motors' stock has surged over 55% in 2025, making it the top-performing U.S.-traded automaker stock of the year, driven by strong earnings, strategic stock buybacks, and favorable regulatory changes, outperforming Tesla, Ford, and others.
President Trump proposed rolling back fuel economy standards for 2022-2031 vehicles to make gas-powered cars more affordable and easier to sell, reversing Biden's stricter rules that aimed to promote electric vehicle adoption. The new proposal would lower costs for automakers but increase fuel consumption, emissions, and consumer fuel costs, while eliminating credit trading and potentially benefiting traditional automakers over EV manufacturers. Critics argue this move will lead to higher environmental and economic costs.
President Trump announced a reset of the Corporate Average Fuel Economy (CAFE) standards, reversing the Biden Administration's stricter targets, which were seen as unrealistic and costly. This move aims to save American families $109 billion over five years, reduce vehicle costs, and prevent unnecessary shifts to electric vehicles, while also protecting the auto industry from fines and ensuring feasible standards for automakers.
Automakers are urging the Trump administration to extend the USMCA trade deal to ensure stability and continued investment, despite tariffs impacting profits; Toyota's US sales grow despite tariffs; Rivian reports a larger Q3 loss but beats expectations; BYD surpasses Tesla in UK EV sales; and historical insights into the invention of the automobile.
Despite facing $30 billion in tariffs, semiconductor shortages, and supply chain issues, automakers like GM, Ford, and Stellantis report strong quarterly earnings, aided by policy changes reducing tariffs, rising car prices, and a shift in environmental regulations favoring traditional vehicles over electric ones. However, the transition to electric vehicles faces setbacks, with some companies scaling back EV investments amid policy uncertainties and increased competition from Chinese automakers.
The White House is expected to extend a five-year tariff reduction arrangement for auto parts, following lobbying from automakers like Ford and GM, which aims to mitigate the impact of record-level import duties and includes new tariffs on imported trucks.
While some automakers experienced significant EV sales growth in the US during Q3 2024, others notably declined or failed to report results, highlighting disparities in how companies are capitalizing on the EV market and the end of US EV tax credits.
Automakers are lobbying the EPA to relax emissions regulations to boost profits, while Stellantis cuts European production due to weak demand, Nissan faces a French investigation over supplier payments, and Ford issues its 112th recall of 2025 due to steering issues.