President-elect Donald Trump’s proposed 25% tariff on all goods form Canada and Mexico, plus on all Chinese imports could wind up costing automakers as much 17% from their annual earnings. The estimate comes from a new study from S&P analysts. Check out the story at Headlight.News.
With CEO Carlos Tavares resigning “with immediate effect,” and no successor in sight, Stellantis could face even more trouble trying to resolve the problems that saw its sales, earnings — and stock price tumble so far this year. The lack of a chief executive officer also comes at a time when the Euro-American automaker is set to launch an assortment of critical new products, including the first all-electric Jeep and Ram models aimed at the U.S. market.
President-elect Donald Trump again affirmed his plans to levy a 25% tax on all imported goods from Mexico and Canada. The constant threat has many worried about massive price hikes for new vehicles while others point to Trump’s reasoning for the tariffs and call it a negotiation ploy. Get details at Headlight.News.
Georgia politicians can now breathe easier as Rivian’s plans to build an electric vehicle production plant about an hour north of Atlanta appear to be back on track. The California-based EV maker secured a $6.6 billion loan from the Department of Energy to build the plant, which was put on hold earlier this year. The loan comes in addition to $1.5 billion in state incentives already granted. Details at Headlight.News.
After being shown the black flag about a year ago, General Motors and TWG Global agreed to a deal to have Cadillac in the starting F1 grid in 2026. The deal will also have the Cadillac Formula 1 Team tracking to be a “full works” team by 2030. Get details at Headlight.News.
The 2024 LA Auto Show is now being turned over to the public, but not before scores of new vehicles — ICE and electric — made their debut in the City of Angels. Headlight.News went to Los Angeles to ensure we had the latest news from this year’s event. Check out the stories.
This week’s LA Auto Show may be more low-key than in some years — but Kia heated things up with three debuts on Thursday, including updates to the Sportage SUV and EV6. It also rolled out a new GT version of its three-row EV9.
Competition in the compact sport-utility segment just got tougher with the debut of the third-generation VW Tiguan. It’s faster, more powerful and fuel efficient than its predecessor sporting a more aggressive look and improve interior for the new model year. Check out the latest intro at the LA Auto Show at Headlight.News.
Sluggish Bronco sales have Ford reducing production of the once-hot-selling SUV while “reassigning” 400 workers related to the move. Additionally, the company is cutting 14% of its European workforce due to slow sales and other issues. Get details at Headlight.News.
Automakers in the U.S., Europe and Japan have announced thousands of job cuts over the past month and there’s growing concern the pace could increase as the industry moves into an uncertain new year, with a new presidential administration in Washington threatening to upend automotive rules and regulations — and possibly the economy, as well. Check out the story at Headlight.News.
Better late than never, it seems, for Vietnamese EV start-up VinFast, the automaker finally delivering the first batch of its second model-line offerings, the VF 9. But those interested in the 3-row SUV will still find only limited availability through a handful of dealerships in California other states.
If anyone hoped that Tesla CEO Elon Musk being named to President-elect Donald Trump’s staff might mean a reprieve for the tax credits created during the Biden administration — guess again. Those credits are as good as gone. Find out more at Headlight.News.