Skoda Kodiaq automobiles on the production line at the Volkswagen AG plant in Bratislava, Slovakia, on Friday, Dec. 1, 2023. Bloomberg | Bloomberg | Getty Images U.S. President Donald Trump’s tariffs on auto imports is expected to hit hard for car brands and countries around the world, with economists warning a small landlocked nation in… Continue reading ‘Europe’s Detroit’ is expected to suffer the most from Trump’s auto tariffs
Author: CNBC Online news
GM’s first-quarter U.S. vehicle sales lead industry as automakers braces for tariffs
SUVs at a Chevrolet dealership in Oshawa, ON. Rene Johnston | Toronto Star | Getty Images General Motors and other automakers reported notable increases in their first-quarter U.S. vehicle sales, as the automotive industry braces for the impacts of President Donald Trump‘s auto tariffs that are set to take effect this week. GM on Tuesday… Continue reading GM’s first-quarter U.S. vehicle sales lead industry as automakers braces for tariffs
Trump tariffs jolt Asian automakers — Toyota likely set for most pain
Brand new Toyota cars are displayed on the sales lot at Hanlees Hilltop Toyota on March 4, 2025 in Richmond, California. Justin Sullivan | Getty Images Newly announced U.S. tariffs on auto imports have rattled Asian automakers, pressuring companies ahead of the implementation of the duties later in the week. U.S. President Donald Trump last… Continue reading Trump tariffs jolt Asian automakers — Toyota likely set for most pain
Trump’s tariffs could mean big business for supply chain software startup LightSource
LightSource cofounders: CTO Idan Mintz and CEO Spencer Penn Courtesy: LightSource With President Donald Trump set to impose sweeping tariffs on a wide swath of U.S. trading partners this week, corporate America is awash in uncertainty. LightSource, a San Francisco startup whose software helps companies manage their procurement process, costs and vendor relationships, didn’t know… Continue reading Trump’s tariffs could mean big business for supply chain software startup LightSource
Tesla plunges 36% in first quarter, worst performance for any period since 2022
White House Senior Advisor, Tesla and SpaceX CEO Elon Musk attends a cabinet meeting held by U.S. President Donald Trump at the White House on March 24, 2025 in Washington, DC. Win McNamee | Getty Images Tesla’s stock just wrapped up its worst quarter since 2022 and suffered its third-steepest drop in the company’s 15… Continue reading Tesla plunges 36% in first quarter, worst performance for any period since 2022
Aston Martin shares pop as Canadian billionaire Lawrence Stroll invests more cash
An Aston Martin DB12 is displayed in the Mayfair showroom on Park Lane on January 09, 2025 in London, England. John Keeble | Getty Images News | Getty Images Shares of Aston Martin jumped as much as 13% on Monday after the British luxury carmaker said it will raise more than £125 million ($161.7 million)… Continue reading Aston Martin shares pop as Canadian billionaire Lawrence Stroll invests more cash
Why tariffs could push car prices even higher
President Donald Trump’s 25% tariff on foreign-made vehicles and parts stands to raise prices on vehicles by thousands of dollars, according to industry economists and other analysts. Sticker prices are already near record highs — just shy of $50,000 on average, Cox Automotive. A record number of buyers are delinquent on their auto loan payments,… Continue reading Why tariffs could push car prices even higher
Elon Musk must face Twitter shareholders’ lawsuit over alleged securities fraud
Elon Musk’s Twitter profile displayed on a computer screen and Twitter logo displayed on a phone screen are seen in this illustration photo taken in Krakow, Poland on April 9, 2022. Jakub Porzycki | Nurphoto | Getty Images A proposed class-action lawsuit against Elon Musk and his family office Excession can proceed in federal court,… Continue reading Elon Musk must face Twitter shareholders’ lawsuit over alleged securities fraud
Trump pardons Nikola founder Trevor Milton in securities fraud case
watch now President Donald Trump pardoned Nikola Corp. founder Trevor Milton for his 2022 conviction of federal crimes related to defrauding investors with false claims about the success of the electric and hydrogen-powered truck maker. Milton, 42, was sentenced in December 2023 to four years in prison, but he has been free since then pending… Continue reading Trump pardons Nikola founder Trevor Milton in securities fraud case
Asian auto stocks extend declines as Trump tariffs on car imports dent sentiment
Vehicles awaiting shipment are parked at a port on March 27, 2025 in Yokohama, Japan. U.S. Tomohiro Ohsumi | Getty Images Asian auto stocks fell for a second straight day as investors fretted over U.S. President Donald Trump’s tariffs on cars and certain automobile parts not made in the country. Japanese automakers Toyota and Honda… Continue reading Asian auto stocks extend declines as Trump tariffs on car imports dent sentiment