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.
Author: New York Times Online News
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
Mercedes-Benz and Volkswagen Facing Uncertainty With Tariffs
European carmakers, including Mercedes-Benz, Stellantis and Volkswagen, said Wednesday that the chaos and upheaval caused by the tariffs introduced by President Trump had left them struggling to assess the impact and unable to plan for the future. After years of sluggish demand and high inflation, Europe’s carmakers headed into 2025 with a raft of new… Continue reading Mercedes-Benz and Volkswagen Facing Uncertainty With Tariffs
House Votes to Repeal California’s Clean Truck Policies
House Republicans, joined by a few Democrats, voted on Wednesday to stop California from requiring dealers to sell an increasing percentage of zero-emission medium and heavy-duty vehicles over time and to block an effort to reduce smog. The two votes were the first of several planned by congressional Republicans that threaten California’s longstanding authority to… Continue reading House Votes to Repeal California’s Clean Truck Policies
Trump Administration Looks to Take Steps to Ease Pain From Car Tariffs
The Trump administration said it plans to announce measures as early as Tuesday to ease the effects of tariffs on imported cars and car parts to give automakers more time to relocate production to the United States. Tariffs of 25 percent on imported vehicles and on auto parts will remain in place. But the tariffs… Continue reading Trump Administration Looks to Take Steps to Ease Pain From Car Tariffs
G.M. Withdraws Profit Forecast as Trump Tariffs Take a Toll
General Motors is abandoning a previous forecast for solid profit growth this year as a result of the uncertainty created by President Trump’s trade policies, the automaker said on Tuesday. The Trump administration imposed a 25 percent tariffs on imported cars this month and has said it will impose a 25 percent duty on imported… Continue reading G.M. Withdraws Profit Forecast as Trump Tariffs Take a Toll
Tesla and Volkswagen May Have a Leg Up As Tariffs Raise EV Prices
President Trump’s tariffs on imported cars and auto parts could stall the growth of electric vehicles, setting back a technology critical to addressing climate change. But the tariffs could also work in favor of some electric models made in the United States, like the Tesla Model Y or Volkswagen ID.4, that are among the cars… Continue reading Tesla and Volkswagen May Have a Leg Up As Tariffs Raise EV Prices
Trump’s Tariffs Squeeze an Already Struggling British Car Industry
The 25 percent tariffs imposed by President Trump on imported cars have added to the pressures on vehicle manufacturers around the world, but the pain could be particularly acute in Britain’s venerable but flagging auto industry. Britain exports more than 70 percent of the cars that it makes. In 2024, it sent about 101,000 of… Continue reading Trump’s Tariffs Squeeze an Already Struggling British Car Industry