The day after President Donald Trump and adviser/Tesla CEO Elon Musk showed off the president’s just-purchased Tesla Model S, the Trump administration took the next step in eliminating the Biden administration’s push to increase electric vehicle production. Find out more at Headlight.News.
“I bought this after Elon went crazy.” We’ve seen plenty of bumper stickers like that, lately, but this one was on the back of a Kia EV3, found in a snarky Instagram post by Kia’s Norwegian subsidiary. And, it seems, many Tesla buyers may be listening. A growing number of them are trading in as backlash grows against CEO Elon Musk’s turn to the political right. Protests are growing at Tesla dealerships around the world, one showroom in France firebombed. Here’s more.
The bulls are still, well, bullish, when it comes to Tesla stock, but the rest of Wall Street seems increasingly nervous and that’s cost the EV maker fully half of its market capitalization since reaching a mid-December, post-election high. And one man appears to catch most of the blame: CEO Elon Musk. More from Headlight.News.
President Donald Trump on Wednesday said he would delay by a month new tariffs covering Canadian and Mexican auto imports. But even with that delay, the industry is waiting to see if Trump will next move to target additional trade partners. Trump has already hinted that European automakers could be next in his sights. More from Headlight.News.
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.
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.”
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.
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.
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 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.
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 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.