European Union officials reaffirm 2035 ban on new gasoline cars while also making revisions to help automakers reach these targets easier as the market continues to shift.
Government
Trump Gives Auto Industry One-Month Tariff Reprieve
Little more than a day after announcing plans to enact 25% tariffs on goods imported from the Mexico and Canada, Pres. Donald Trump threw a temporary lifeline to the auto industry by granting a one-month reprieve on automotive parts and vehicles. But the threat remains that sanctions could still follow if the U.S. can’t reach resolution with its two neighbors and leading trade partners – something Ford CEO Jim Farley warned “would blow a hole in the U.S. industry.”
Is the State Dept. Trying to Cover Up the Truth About the $400M Cybertruck Purchase?
Did the U.S. State Department craft a $400 million windfall deal for Tesla and its CEO Elon Musk as payback for the executive’s leading role in the Trump administration? And is it now trying to cover up the truth behind the proposed purchase of armored versions of the Tesla Cybertruck? That’s a question one ranking member of the Senate is trying to find out.
Trump Tariff’s Sticker Shock Could Cripple Auto Industry
President Donald Trump, as expected, launched new tariffs targeting Canada and Mexico while also increasing prior tariffs on China. All three countries responded with their own trade sanctions. The tariff war will increase prices on everything from avocados to semiconductors but economists warn few consumer goods will feel the heat more than automobiles – some models set to see price hikes of $12,000 or more. At a time when sticker shock is already impacting sales, analysts fear the U.S. auto industry could see sales and profits tumble – while job cuts also could be in the offing.
More Trump Tariffs Coming This Week; Expect to Spend More for Your Next Vehicle
Barring a last-minute change of mind, the White House has signaled Pres. Donald Trump will announce new tariffs targeting America’s largest trading partners, Canada and Mexico, on Tuesday. The move is expected to increase the cost of many common goods substantially, including not only fully assembled vehicles imported from America’s nearest neighbors but other cars, trucks and crossovers assembled in the U.S. That’s because virtually all of those models rely on at least some Mexican and Canadian parts, components and raw materials.
Tesla Stock Continues Nosedive Grow Increasingly Worried About “Musk Effect”
Tesla stock wracked up its sixth straight loss on Thursday, reaching its lowest point since the automaker’s shares surged in the wake of the 2024 presidential election and CEO Elon Musk’s close ties to Donald Trump. Musk’s role in the new Trump administration has been a key factor in the downturn, but analysts warn of other issues that could make it difficult for Tesla to bounce back.
EV Market Share Hits New Record
Who says the EV market is on the wane? Not U.S. consumers who bought a record number of all-electric cars, trucks and crossovers last month, according to the latest data. In January, battery-electric models accounted for 9.1% of the market, up nearly nine-fold over the last half-decade, despite the anti-EV push by the new Trump administration. Headlight.News has more.
Automakers Brace as Trump Promises New Tariffs on April 2
Automakers and auto buyers could face new import tariffs, based on comments made by Pres. Donald Trump. Such a move would drive up costs not only for foreign-made vehicles but likely also will impact many of those assembled in the U.S. as most of those rely on imported parts and components. With the average transaction price for new vehicles already near record levels, analysts warn, many buyers could be priced out of the market. And, with some trade partners already warning they would strike back with new tariffs of their own, U.S. auto exports may also take a big hit.
Losses Worsening, Nissan Cutting U.S. Production, Shutting 3 Global Assembly Plants, Trimming More Jobs
Nissan CEO Makoto Uchida announced a desperate new bid to reverse the company’s mounting losses after a planned merger with Honda collapsed. The second-largest Japanese automaker now plans to close three plants, reduce U.S. production and eliminate thousands of jobs. The announcement came as Uchida revealed still more losses for Nissan’s latest fiscal quarter.
Dogged by Conflict of Interest Concerns, State Dept. Appears to Back Off Purchase of $400 Million Worth of Armored Tesla Cybertrucks
The U.S. State Department on Wednesday appeared to back down on plans to purchase $400 million in armored Tesla Cybertrucks amids mounting questions about a conflict of interest considering the automaker’s CEO Elon Musk plays a major role in the new Trump administration. But it’s unclear from an updated procurement forecast whether authorities will switch to other vehicles or have simply obscured their purchase plans.
Republican FAIR Act Fails to Treat EV Owners Same as ICE-Vehicle Owners
A group of U.S. Senate Republicans proposed new legislation that would charge anyone who buys a new electric vehicle a $1,000 fee at the time of purchase. The stated goal is to off-set the lost federal gas tax revenue used to help maintain America’s roads and bridges. However, is it fair or one more attack by the party on EVs. Get details at Headlight.News.
EV Sales Could Flatten This Year as Trump, GOP Raise New Obstacles
EV sales appear likely to stagnate in 2025 in 2025, largely due to new roadblocks the Trump administration and Congress are ready to throw in the way, according to a new J.D. Power forecast. That could cause major headaches for automakers investing billions to bring more of the vehicles to market. But the research firm still sees demand rebounding later in the decade to the point where electric vehicles will account for more than a quarter of new vehicle sales.