After decades of dominating China’s market for high-performance cars with precision engineering, German automakers are losing out to Chinese rivals that have shifted the definition of a high-end car to one that is electric, smart and affordable. Many new Chinese vehicles resemble their German rivals, like the wildly popular Xiaomi SU7, which mimics Porsche’s Taycan.… Continue reading Porsche Is No Longer a ‘Premium’ Sports Car in China
Author: New York Times Online News
Trump Says Auto Tariffs Coming April 2
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. Asked about when he might impose car tariffs during remarks in the Oval Office, Mr. Trump said “maybe around April… Continue reading Trump Says Auto Tariffs Coming April 2
State Dept. Suspends Plan to Buy Armored Vehicles From Elon Musk’s Tesla
The State Department said Thursday that it had put plans to buy armored electric vehicles on hold after reports that the $400 million order would go to Tesla, whose chief executive, Elon Musk, is one of President Trump’s most important advisers and supporters. The agency pushed back against suggestions that the purchase was designed to… Continue reading State Dept. Suspends Plan to Buy Armored Vehicles From Elon Musk’s Tesla
Ford Chief Executive Says Trump Policies May Lead to Layoffs
Ford Motor could be forced to lay off employees if the Trump administration ends subsidies and other financial support for electric vehicle manufacturing, the company’s chief executive said on Tuesday. Ford has invested heavily in factories to produce batteries and electric vehicles in Ohio, Michigan, Kentucky and Tennessee, Jim Farley, the Ford chief executive, said… Continue reading Ford Chief Executive Says Trump Policies May Lead to Layoffs
As Elon Musk Attacks DEI, Tesla Quietly Addresses Racism Complaints
In Washington, Elon Musk has been at the forefront of Trump administration efforts to gut programs designed to promote diversity. At the same time, Tesla, the electric car company that Mr. Musk leads, has in recent days, with little notice, tried to appease critics who have accused the company of racial discrimination. In a little-noticed… Continue reading As Elon Musk Attacks DEI, Tesla Quietly Addresses Racism Complaints
Tesla’s European Sales Drop in January After Elon Musk Disrupts Politics
Tesla’s sales in Germany plunged 59 percent in January, the month when Elon Musk, the company’s chief executive and a close adviser to President Trump, chided Germans for focusing too much on “past guilt” for Nazi-era crimes and urged voters to support a nationalist party in the country’s general election. As Mr. Musk has been… Continue reading Tesla’s European Sales Drop in January After Elon Musk Disrupts Politics
Trump Wants to Know Why U.S. Cars Are Rare in Germany. Here Are a Few Reasons.
It is a question that vexed President Trump eight years ago and has re-emerged as a reason behind his threat to impose tariffs on the European Union: Why don’t Europeans buy cars from the United States? “They make it impossible to sell cars in the European Union,” Mr. Trump told reporters on Monday, reviving a… Continue reading Trump Wants to Know Why U.S. Cars Are Rare in Germany. Here Are a Few Reasons.
Automakers get a reprieve but brace for further turmoil.
President Trump is brandishing the U.S. economy like a weapon, putting more than a trillion dollars of trade on the line as he opens economic wars on multiple fronts. He has threatened tariffs on the United States’ closest trading partners, which are together responsible for more than 40 percent of American imports, to try to… Continue reading Automakers get a reprieve but brace for further turmoil.
Tesla and Chinese Carmakers Could Reap Billions From EU Emissions Rules
As European automakers brace for a possible trade war waged by President Trump, they are working to ward off another threat on their home turf: the prospect of paying hundreds of millions of dollars to Tesla and Chinese competitors muscling in on their core markets. Under stricter European Union regulations taking effect this year, automakers… Continue reading Tesla and Chinese Carmakers Could Reap Billions From EU Emissions Rules
Tesla’s Fourth-Quarter Earnings Report Sharp Drop in Profit
Tesla on Wednesday reported a sharp drop in profit for 2024 as rivals in China, Europe and the United States chipped away at its lead in the market for electric cars. The company, which is led by Elon Musk, said it made a profit of $2.3 billion during the last three months of 2024. That… Continue reading Tesla’s Fourth-Quarter Earnings Report Sharp Drop in Profit