President-elect Donald J. Trump’s threat to impose 25 percent tariffs on goods from Mexico and Canada sent shivers on Tuesday through the auto industry, which depends heavily on both countries for parts and manufacturing. The prospect of tariffs “is a two-alarm fire for the auto industry,” said Patrick Anderson, chief executive of Anderson Economic Group,… Continue reading Trump’s Tariffs Would Deal a Big Blow to the Auto Industry
Author: New York Times Online News
How Trump Could Upend Electric Car Sales
Many car buyers have come to rely on a $7,500 federal tax credit on electric vehicles to soften the blow of their high prices. But those credits could disappear after President-elect Donald J. Trump takes office, leading to an almost immediate drop in sales of the cars and trucks. Electric car sales could fall 27… Continue reading How Trump Could Upend Electric Car Sales
What Elon Musk Needs From China
No American business leader has more visibly and lavishly supported President-elect Donald J. Trump than Elon Musk — and few if any have a more complex relationship with China, a country that Mr. Trump has vowed to confront with higher tariffs and other measures. Mr. Musk has a lot on the line. His best-known company,… Continue reading What Elon Musk Needs From China
Automakers Want Trump to Keep Federal E.V. Regulations in Place
Three of the nation’s largest automakers, Ford, General Motors and Stellantis, are strategizing with other car manufacturers on how to make a delicate request of President-elect Donald J. Trump: Don’t scrap the federal regulations that compel the industry to sell electric vehicles. The conversation would require diplomatic finesse. Mr. Trump has railed against the E.V.… Continue reading Automakers Want Trump to Keep Federal E.V. Regulations in Place
Ford to Cut 4,000 Jobs in Europe as Electric Vehicle Sales Slow
The American automaker said the cost-cutting measure would help it compete with Chinese rivals in the face of slowing demand for electric vehicles. Go to Source
Installing E.V. Chargers is Finally Paying Off for Retailers
Companies see charging as a potentially profitable business in and of itself, not just as a spur for foot traffic and sales. Go to Source
Volkswagen and Rivian Form Joint Venture, Deepening Alliance
The new agreement, which builds on an earlier announcement, calls for the German automaker to invest $5.8 billion in Rivian, a maker of electric vehicles. Go to Source
Trump’s Tariffs Could Deal a Blow to Mexico’s Car Factories
The president-elect has said he could impose punitive tariffs on car imports from Mexico, a move that could hurt factories and workers on both sides of the border. Go to Source
Nissan Cuts 9,000 Jobs and Slashes C.E.O.’s Pay in Half
The Japanese automaker is carving deep cuts in its global operations as it struggles with a steep drop in sales. Go to Source
Tesla’s Stock Jumps After Trump’s Victory
Investors believe that the electric car company led by Elon Musk will benefit from his support of the president-elect. Go to Source