With demand in a sharp slump, Tesla’s controversial Cybertruck has slipped to second in the emerging EV pickup segment, behind the Ford F-150 Lightning. But the Blue Oval’s all-electric truck has its own struggles. Headlight.News has more.
Earnings and Financials
Tariffs Backfire as Automakers Reduce North American Production
Pres. Donald Trump’s 25% tariffs on imported autos and auto parts were intended to bring manufacturing and jobs back to the United States but, at least for now, the plan appears to be backfiring. Though a number of automakers are looking at ways to bring new vehicle production to the States, a new study shows that the industry will sharply reduce output in North America this quarter. And that, in turn, raises the prospect of U.S. auto jobs cuts. More from Headlight.News.
GM Switching to New Battery Chemistry For Trucks, SUVs
General Motors has created new partnerships to come up with less expensive and easier to source battery chemistry. The Ultium Cells joint venture with Korea’s LG energy is set to go into production in 2028. GM claims the new technology will be cheaper without sacrificing range. More from Headlight.News.
Tesla Weighed Down by $800 Million in Unsold Cybertrucks
In the weeks after Tesla unveiled its Cybertruck in November 2019, the automaker claimed to have logged more than 1 million advance reservations. As it turns out, only a handful of those have been translated into actual sales. Now, the automaker has an estimated 10,000 unsold trucks piled up on dealer and factory lots – worth about $800 million. The lack of demand has led Tesla to pull the plug on a range extender option that was supposed to deal with the truck’s limited range. Headlight.News has more.
Times Get Tougher at Nissan with 10K More Layoffs Coming
Nissan’s push to get back to prosperity continues to take it through tough times. The company apparently is preparing to layoff 10,000 workers — in addition to the 9,000 it’s already sent packing. This news comes as it prepares to release a quarterly earnings loss in the billions of dollars. Find out more at Headlight.News.
Stellantis’ U.S. Boss May Soon Be Running the Entire Company
Nearly a half year after the unexpected resignation of Carlos Tavares, the founding chief executive of Stellantis, the Euro-American automaker has yet to name a replacement. But the search may be coming to an end, according to a new report which says Antonio Filosa, currently the head of Americas operations for Stellantis, has become the leading candidate.
Newer, Cheaper Version of Tesla Model Y Debuts
The first major update of Tesla’s best-selling product line, the Model Y, has officially gone on sale. Known internally by its codename, Juniper, it’s also being offered in a newer, cheaper form, with a base rear-wheel-drive package dropping to $37,490 after factoring in federal tax credits. Whether that will reverse declining Tesla sales, hurt by widespread protests against CEO Elon Musk’s role in the Trump administration, remains to be seen. More from Headlight.News.
Ford Raising Prices on Mexican-Made Products
Ford Motor Co. plans to raise prices on three popular product lines assembled in Mexico, according to an advisory sent to dealers. The automaker put the blame on the new Trump auto tariffs which, it said earlier this week, will add about $2.5 billion to its costs this year. The automaker has yet to say whether it also will raise prices on products produced at Canadian and other foreign plants, as well as those assembled in the U.S. using foreign-made parts. Headlight.News looks at whether othr products could see price hikes,
Rivian Finishes Q1 in Black Again as Lucid Sets New Delivery Record
American EV makers Rivian Automotive and Lucid Motors released their first-quarter earnings results, each hitting positive markers for the period. Rivian earned another $1 billion in funding from Volkswagen for turning a gross profit. Meanwhile, Lucid hit another vehicle delivery record during the period. Find out more at Headlight.News.
Duncan Aldred, GM’s New Head of N. America, Has a Tough Job Ahead
General Motors has appointed veteran Duncan Aldred to run the company’s North American business operations. The British-born executive comes in at a critical time for the automaker which just warned expects to take as much as a $5 billion hit from Pres. Donald Trump’s auto tariffs. Headlight.News has more.
Infiniti Looks to Go Rogue – With Its Own Version of the Nissan Crossover
Desperate for new products, Infiniti is searching for a weay to get back into the booming compact crossover segment. The likely plan: come up with a unique, upscale variant of the mainstream Nissan Rogue. Headlight.News has more.
Ford Posts Lower Profits, Predicts $1.5 Billion Hit Due to Tariffs
As expected, Ford Motor Co. reported a drop in earnings and profits for the first quarter of 2025. The company also suspended its earnings guidance for the rest of the year, but did estimate the new tariffs could cost the automaker about $1.5 billion. Get details at Headlight.News.