Tag Archives: automakers

The New York Times reports: General Motors cut its profit forecast for 2025 on Thursday by more than 20 percent and said that the Trump administration’s tariffs would increase its costs by $4 billion to $5 billion this year. In a conference call with analysts, G.M. executives said the company now expects to make $8.2 billion to $10.1 billion this …

The New York Times reports: President Trump signed a pair of executive orders on Tuesday that walked back some tariffs for carmakers, removing levies that Ford, General Motors and others have complained would backfire on U.S. manufacturing by raising the cost of production and squeezing their profits. The changes will modify Mr. Trump’s tariffs so carmakers that pay a 25 …

The Business Standard reports: In a high-stakes call with top US automakers earlier this month, US President Donald Trump issued a warning: Do not raise car prices in response to his new tariffs, reported The Wall Street Journal. According to sources familiar with the conversation, Trump cautioned executives that the White House would not look favourably on price increases. His …

Investing.com reports: Tesla Inc. is issuing a recall for 376,241 vehicles, according to a notice filed with the National Highway Traffic Safety Administration. The recall involves certain 2023 Model 3 and Model Y vehicles that are operating on software versions prior to 2023. The issue lies with the printed circuit board for the electronic power steering assist. This component may …

The New York Times reports: President Trump said on Friday that he planned to move forward with tariffs on foreign cars on April 2, but did not specify how much the tariffs would be or which nations could be targeted. Automakers have been bracing for the impact of tariffs and have forecast significant job losses. Asked about when he might …

Axios reports: President Trump’s early tariff moves have one thing in common: No matter the target, they all threaten to “blow a hole” in the auto industry, Ford CEO Jim Farley said Tuesday. “So far what we’re seeing is a lot of costs and a lot of chaos,” Farley said at a Wolfe Research conference on Tuesday.”Let’s be real honest …

Mother Jones reports: An analysis published Thursday by the auto news website FuelArc found that, in their one year of existence, the approximately 34,000 Cybertrucks on the roads had five fire fatalities, giving them a fatality rate of 14.5 per 100,000 units. That’s 17 times the fatality rate of the Ford Pintos, whose famously flawed gas tank design on the …

CBS News reports: Tesla’s fourth-quarter net income fell 71% from a year ago when results were boosted by a one-time tax benefit. The latest results fell short of Wall Street forecasts. The electric vehicle company run by Elon Musk said Wednesday that it made $2.31 billion from October through December, less than the $7.93 billion profit it posted in the …

USA Today reports: Another American-based big-leaguer is kicking in cash to incoming President-elect Donald Trump’s January inaugural fund. Ford Motor Company, headquartered in Dearborn, Mich., will donate $1 million as well as a fleet of vehicles for the festivities, a spokesperson confirmed to USA TODAY Monday. Earlier this month, Ford CEO Jim Farley told reporters his leadership team is carefully …

Reuters reports: Honda and Nissan are in talks to merge by 2026, they said on Monday, a historic pivot for Japan’s auto industry that underlines the threat Chinese EV makers now pose to the world’s long-dominant legacy car makers. The tie-up would create the world’s third-largest auto group by vehicle sales after Toyota and Volkswagen. It would also give the …

CNN Business reports: Honda and Nissan are discussing a possible merger, potentially bringing together two Japanese automaking titans that have recently fallen on hard times. The companies said in statement that they have been in talks, but they offered no details or timeframe for when a deal – if one should develop – may be completed. It’s also not clear …

Via press release from Amazon: Starting today, vehicle shoppers in 48 U.S. cities can browse, order, finance, and schedule pickup of a new Hyundai vehicle from their local participating dealer directly on Amazon. Amazon Autos offers online automotive shopping from Hyundai dealers across major metropolitan areas nationwide. We continue to add more Hyundai dealerships, and next year, we will roll …

Road & Track reports: Tesla’s vehicles have the highest fatal accident rate among all car brands in America, according to a recent iSeeCars study that analyzed data from the U.S. Fatality Analysis Reporting System (FARS). Tesla vehicles have a fatal crash rate of 5.6 per billion miles driven. The average fatal crash rate for all cars in the United States …

The Daily Beast reports: Tesla was hit with two recalls for its Cybertruck on Tuesday, taking the total number of recalls on Elon Musk’s futuristic pet project to four. The National Highway Traffic Safety Administration said the truck’s front windshield wiper motor controller is at risk of failing due to excessive electrical current, increasing the risk of crashes due to …

The Verge reports: Tesla board chair Robyn Denholm is calling on the company’s shareholders to approve Elon Musk’s massive $56 billion pay package or risk driving the billionaire CEO to greener pastures. On June 13th, Tesla shareholders will decide the fate of Musk’s compensation package, which is estimated to be worth as much as $56 billion. Denholm implying that Musk …

Axios reports: Tesla Motors’ brand reputation continued to slip over the last year as the antics of polarizing CEO Elon Musk and other issues tarnished its once-impeccable image, according to new Axios Harris Poll 100 survey results. Tesla soared to 8th place in 2021’s ranking of America’s 100 most visible companies by their perceived image, but has since plummeted to …

The New York Times reports: General Motors said on Wednesday that it would stop making the Chevrolet Malibu, the last sedan in its U.S. model lineup and a venerable nameplate that was introduced in the 1960s when the company was a dominant force in the U.S. economy. For years, American drivers have been gravitating toward sport utility vehicles and away …

Reuters reports: U.S. prosecutors are examining whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles’ self-driving capabilities, three people familiar with the matter told Reuters. While Tesla has warned drivers to stay ready to take over driving, the Justice Department is examining other statements by Tesla and Chief Executive Elon Musk suggesting its …

Courthouse News reports: A panel of automotive industry experts and advocates on Tuesday sought to dissuade lawmakers from moving forward with a bill that would require new vehicles to be fitted with analog radio receivers, despite growing bipartisan momentum behind the measure. Both the House and Senate are considering versions of the AM Radio for Every Vehicle Act, which would …

The New York Times reports: Tesla has agreed to recall nearly 4,000 of its Cybertruck pickups to fix an accelerator pedal that can get stuck, raising the risk of crashes, a federal safety agency said on Friday. The defect could cause the vehicle to accelerate unintentionally, the National Highway Traffic Safety Administration said in a notice posted on its website. …