Waymo says it knows the way to San Jose as it puts driverless taxis on the freeway in Silicon Valley. The initiative beat out arch-rival Tesla, which just promised to pay Elon Musk billions to expand its robotaxi business. Headlight.News has more.
Joseph Szczesny
Musk’s $1 Trillion Pay Package Goes to Tesla Sharholders
Shareholders could decide the future of Elon Musk and Tesla this week as they vote on the proposed $1 trillion pay package many big investors are finding hard to accept at a time when Musk’s judgement and entrepreneurial instinct is in question. More from Headlight.News.
Disconnected: U.S. Auto Sales Tumble as EV Credits Disappear, Vehicle Prices Continue Surging
Automakers suffered saw a sharp drop in electric vehicle sales during October as federal EV tax credit ended. But even sales of gas models leveled off as prices, driven higher by Trump’s auto tariffs, drove many mainstream buyers out of the market. As Headlight.News reports, the industry has become more dependent than ever on affluent households for new sales.
Financing a Car Becomes Increasingly Challenging Despite Fed Rate Cut
At a time when new vehicle prices are reaching record levels and interest rates remain stubbornly high, despite the recent rate cut by the Federal Reserve, affordability is becoming a critical issue that could send U.S. auto sales into a tailspin in the months ahead.
Stellantis Finally Pulls Out of its Sales Slump – But Federal Shutdown Weighs Over the Entire Industry
Strong sales by the Jeep and Ram brands helped Stellantis reverse its long sales slide during the third quarter, even as Volkswagen faltered in the face of a challenging economy. While U.S. auto sales are running stronger than expected, analysts still worry about the impact of tariffs and the federal government shutdown in the months ahead.
Buyers Growing Wary as Economic Pressures Mount
How consumers feel about the economy and their own economic prospects sit close to the heart of the decision to purchase a new vehicle. But in a worrisome sign for the future of vehicle sales consumers sentiment is slipping and price increases loom. Headlight.News has more.
Federal Reserve Rate Cut May Not Help Increasing Price-Sensitive Car Buyers
Facing an uncertain economic environment that threatens to undermine demand for retail sales, including new vehicles, the Federal Reserve Board voted to cut interest rates. But it’s far from clear that will be enough to head off an automotive downturn worsened by anticipated tariff-driven price hikes. More from Headlight.News.
Tariff Deal with Japan is Still Six Times More Than Before Trump Trade War
Japan reached a trade deal with the Trump administration that will lower tariffs on its auto imports to 15%. That’s nearly half what the president’s trade war initially imposed on Japanese-made vehicles – but its still six times more than the duties in place before the Trump trade war – which means thousands of dollars in potential price hikes should automakers pass the tariffs on to consumers. More from Headlight.News.
Even as Detained Workers Return Home, Korean Companies Warn Employees in U.S. More ICE Raids Could Follow
Hundreds of South Korean workers detained by an ICE raid at a Hyundai battery plant in Georgia were returned home to cheers from family and government officials. But Korean companies are worried that more immigration raids will follow, throwing into chaos Korean-owned auto, shipbuilding, steel and electrical equipment operations across the U.S. Headlight.News has more.
ICE Takes 100s of Workers Into Custody at Hyundai Battery Plant
Hundreds of employees of LG Energy Solution, a South Korean battery maker, were taken into custody in an immigration raid at a Hyundai plant being built outside Savannah, Georgia, officials from both ICE and the South Korea’s Foreign Ministry have confirmed.
EV Buyers Race to Market Before Tax Credits End, Boosting Overall August Sales
Strong sales of electric and electrified vehicles boosted overall U.S. auto sales during August, with manufacturers including Hyundai, Kia, Genesis, Toyota and Ford Motor Co. and Honda reporting solid gains and, in some cases, record sales. More from Headlight.News.
UAW Pres. Fain Delivered “Historic” Labor Contracts – But He Now Faces a Revolt Within the Ranks
Shawn Fain’s grip on the Presidency of the United Auto Workers Union is under siege as more locals ask the UAW’s board of directors to consider removing Fan from office under the watchful eye of an independent monitor.