As part of a new trade deal, Japanese auto imports will now face 15% reciprocal tariffs, down from the earlier 25% levied as part of Pres. Donald Trump’s trade war. Japan also agreed to set up a $550 billion fund to back investments in the United States. More from Headlight.News.
General Motors reported a 35% decline in net income for the second quarter of the year, much of that due to the new Trump tariffs which took a $1 billion bite, the automaker reported. More from Headlight.News.
Ford has launched two electrified versions of the Bronco, an EV and a range-extender. Both are set to go on sale later this year. Unfortunately for EV fans, the only place they’ll be available is in China. Headlight.News has more.
Facing an assortment of new tariffs and an assortment of anti-EV policies, the new Subaru Uncharted faces serious challenges the automaker couldn’t have imagined when the project was first launched. But Subaru does have some advantages: buyers more open to EVs than at many other brands. More from Headlight.News.
New vehicle prices are already rising an average $2,000 due to Trump tariffs. They could be hit with another big increase as the president readies a 50% tariff on the miles of copper found in today’s automobiles. Headlight.News has more.
After seemingly declaring a truce last month, Tesla CEO Elon Musk and Pres. Donald Trump went after each other again on Monday, the president threatening to trash federal subsidies for Tesla and SpaceX. It didn’t help the automaker’s stock as analysts warned of a sharp downturn in sales when Tesla reveals its second-quarter results on Wednesday. More from Headlight.News.
Yet again, Tesla sales stumbled by double-digits in May, marking the fifth monthly decline in a row. Meanwhile, the man appointed to run operations and sales in Europe and the U.S. has left the automaker, as has its head of human resources. Tesla has seen a flood of senior execs leave in recent months, including the head of its Optimus robot program. But it did manage to snag the former head of autonomy from GM’s now shuttered Cruise subsidiary.
Iran is threatening to close the Strait of Hormuz, the critical Mideast waterway through which 20% of the world’s liquid petroleum passes through. That’s already led to a surge in gasoline prices in the U.S. and some analysts worry it could trigger the sort of global energy crisis not seen since the 1970s. Headlight.News has more.
Expect to spend nearly $2,000 more for your next vehicle due to the Trump administration’s tariffs on imported autos and auto parts, automakers expected to pass on most of the $30 billion in higher costs they’ll face, according to a new study, But that could result in 1 million fewer sales this year, while some foreign-made vehicles will likely vanish from U.S. showrooms because they’ll be priced out of reach, reports Headlight.News.
If you’re planning to buy an import vehicle anytime soon be prepared to wait. Dealers around the country are beginning to run short of some foreign-made models, according to recent reports, as manufacturers reduce shipments to the U.S. due to the Trump auto tariffs. And that could spell trouble for motorists, in general, as the slowdown also impacts foreign-made service and repair parts. More from Headlight.News.
Nissan plans to scrap the Versa. It’s not only the cheapest vehicle in the automaker’s line-up but the lowest-priced model offered in the U.S., period. The Trump tariffs are one of the key reasons for this decision, reports Headlight.News, noting the entire entry auto market could vanish.
Facing potentially massive new tariffs on imported autos and auto parts, some manufacturers have begun planning ways to shift production to the U.S. That includes Volkswagen whose CEO said “massive” new investments could be coming – though a new court ruling could short-circuit such plans. More from Headlight.News.