Sales of electric vehicles have been rising in recent years, partly because of a $7,500 tax credit from the federal government that helps lower the cost of buying one. But a budget bill that House Republicans released on Monday would end that tax credit. Their proposal would also put new restrictions on other tax breaks… Continue reading Republican Bill to End E.V. Tax Credit Could Hurt G.M. and Ford
Author: New York Times Online News
Tariffs Push Honda to Move Production From Canada to U.S.
In the face of U.S. tariffs, Honda said on Monday that it would shift production of one of its popular vehicles from Ontario to a U.S. factory and postpone an $11 billion plan to make electric vehicles and batteries in Canada. The announcement came less than a month after Honda denied a report in the… Continue reading Tariffs Push Honda to Move Production From Canada to U.S.
Carvana, a Used Car Retailer, Thinks Trump’s Tariffs Could be Good for Business
Automakers are worried that President Trump’s tariffs on imported cars and auto parts will soon increase their costs and start eating into profits. But at least one business in the auto industry thinks the tariffs could give it a lift. That company is Carvana, an online retailer of used cars that has gained fame for… Continue reading Carvana, a Used Car Retailer, Thinks Trump’s Tariffs Could be Good for Business
Is Slate Auto’s Electric Truck the Answer to Expensive Cars?
When Slate Auto, a start-up, unveiled a roughly $25,000 electric pickup truck last month, social media lit up with comments. Many people saw the no-frills vehicle, with an easy-to-repair body and nostalgic hand crank windows, as a refreshing antidote to today’s overstuffed and increasingly unaffordable cars. How unaffordable? Average monthly payments on new cars have… Continue reading Is Slate Auto’s Electric Truck the Answer to Expensive Cars?
U.S. automakers say Trump’s trade deal with Britain gives foreign companies a leg up.
A federal judge ordered the Trump administration on Friday to release Rumeysa Ozturk, a Tufts University student, saying that her continued detention could potentially chill “the speech of the millions and millions of individuals in this country who are not citizens.” At a hearing at the Federal District Court in Vermont, the judge, William K.… Continue reading U.S. automakers say Trump’s trade deal with Britain gives foreign companies a leg up.
A Decade-Long Search for a Battery That Can End the Gasoline Era
On a frigid day in early January, as she worked in her office in the Boston suburb of Billerica, Mass., Siyu Huang received a two-word text message. “Spinning wheels,” it said. Attached was a short video clip showing a car on rollers in an indoor testing center. To the untrained eye there was nothing remarkable… Continue reading A Decade-Long Search for a Battery That Can End the Gasoline Era
The C.E.O. of Detroit Axle Gave Trump’s Tariffs a Chance. Now He’s Nervous.
Mike Musheinesh gets about 75 percent of the auto parts his company sells from China. But even with plenty to lose in a trade war, Mr. Musheinesh gave President Trump the benefit of the doubt when he started increasing tariffs on the company’s most important trading partner. The president “needs to shake it up, and… Continue reading The C.E.O. of Detroit Axle Gave Trump’s Tariffs a Chance. Now He’s Nervous.
Car Prices Expected to Rise as Tariffs on Parts Kick In
The United States imposed 25 percent tariffs on imported auto parts on Saturday that could sharply raise prices for new and used vehicles as well as for repairs and insurance. The latest tariffs, which President Trump ordered in March as part of his plan to promote domestic manufacturing, come after the 25 percent levies on… Continue reading Car Prices Expected to Rise as Tariffs on Parts Kick In
GM Cuts Profit Forecast by 20% and Says Auto Tariffs Will Cost It Billions
General Motors cut its profit forecast for 2025 on Thursday by more than 20 percent and said 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 expected to make $8.2 billion to $10.1 billion this year,… Continue reading GM Cuts Profit Forecast by 20% and Says Auto Tariffs Will Cost It Billions
Tesla Chair Denies That Board Sought to Replace Elon Musk
The chair of Tesla’s board of directors denied a report that the company had begun to look for a replacement for Elon Musk, the chief executive who has been spending much of his time working for President Trump while the automaker’s sales and profits have plummeted. Robyn Denholm, who has led the board for more… Continue reading Tesla Chair Denies That Board Sought to Replace Elon Musk