United Automobile Workers (UAW) President Shawn Fain speaks on the first day of the Democratic National Convention (DNC) at the United Center in Chicago, Illinois, on August 19, 2024. Mandel Ngan | AFP | Getty Images DETROIT — The head of the United Auto Workers has become an unexpected ally for President Donald Trump‘s plans… Continue reading Trump finds unexpected ally in auto union leader over tariffs
Author: CNBC Online news
Tesla shares plunge 15%, suffering steepest drop in five years
People gather in a protest outside a Tesla dealership in Lisbon against Tesla and SpaceX CEO Elon Musk on March 9, 2025. Patricia De Melo Moreira | Afp | Getty Images Tesla’s sell-off on Wall Street intensified on Monday, with shares of the electric vehicle maker plunging 15%, their worst day on the market since… Continue reading Tesla shares plunge 15%, suffering steepest drop in five years
Volkswagen and Stellantis evade Trump’s 25% tariffs, while BMW braces for impact
Volkswagen ID.7 electric cars are seen at the Volkswagen (VW) electric fleet lead plant in Emden, Germany, Feb. 18, 2025. Carmen Jaspersen | Reuters Automakers Volkswagen and Stellantis have confirmed that their vehicles made in North America will be exempt from U.S. President Donald Trump‘s newly rolled out 25% tariffs, while BMW says it will… Continue reading Volkswagen and Stellantis evade Trump’s 25% tariffs, while BMW braces for impact
Goodyear Tire’s transformation plan is underway — in the sky and on the ground
A Goodyear blimp flies Goodyear AKRON, Ohio — Does the Goodyear blimp sell tires? That was one question veteran auto executive Mark Stewart had when he started as CEO of Goodyear Tire & Rubber Co. a little more than a year ago, seeking to lead a transformation plan for the quintessential American company. For a… Continue reading Goodyear Tire’s transformation plan is underway — in the sky and on the ground
Tesla shares have declined every week since Elon Musk went to Washington
Elon Musk speaks during the first cabinet meeting hosted by U.S. President Donald Trump, at the White House in Washington, DC, U.S., February 26, 2025. Brian Snyder | Reuters Tesla’s stock has never had a stretch this red. For seven straight weeks, since Elon Musk went to Washington, D.C. to join the Trump administration, shares… Continue reading Tesla shares have declined every week since Elon Musk went to Washington
FAA briefly halts flights to several Florida airports after SpaceX rocket testing failure
watch now The Federal Aviation Administration briefly halted flights to several Florida airports on Thursday night after a SpaceX Starship testing failure. The incident marks the second time this year that SpaceX experienced a mishap during a flight test of Starship resulting in debris raining down and commercial flights disrupted. Affected airports included Miami International… Continue reading FAA briefly halts flights to several Florida airports after SpaceX rocket testing failure
Trump grants automakers one-month exemption from tariffs
In an aerial view, brand new Subaru cars sit in a storage lot at Auto Warehouse Co. on March 4, 2025 in Richmond, California. Justin Sullivan | Getty Images The White House on Wednesday announced a one-month North American tariff exemption for automakers after President Donald Trump spoke a day earlier with heads of General… Continue reading Trump grants automakers one-month exemption from tariffs
Trump’s tariffs could quickly cut North American auto production by a third
Autoworkers at Nissan’s Smyrna Vehicle Assembly Plant in Tennessee, June 6, 2022. The plant employs more than 7,000 people and produces a variety of vehicles, including the Leaf EV and Rogue crossover. Michael Wayland / CNBC DETROIT — Roughly a third of vehicle production in North America could be cut by next week as a… Continue reading Trump’s tariffs could quickly cut North American auto production by a third
Why automakers including Honda and Toyota are pouring millions into rockets and satellites
In January, Toyota said its mobility software subsidiary “Woven by Toyota” was investing $44 million into Japanese rocket maker Interstellar Technologies. Rival Honda has been developing a proprietary reusable rocket since 2019 to launch low-earth orbit satellites to space. Chinese automaker Geely Holding Group, a Tesla competitor, has invested $326 million to manufacture its own… Continue reading Why automakers including Honda and Toyota are pouring millions into rockets and satellites
Tesla’s worst month since 2022 coincided with Elon Musk’s first full month in White House
Leader of the Department of Government Efficiency Elon Musk wears a shirt that says “Tech Support” as he speaks during a cabinet meeting with US President Donald Trump at the White House in Washington, DC, on February 26, 2025. Jim Watson | Afp | Getty Images Tesla’s stock started off March the way it left… Continue reading Tesla’s worst month since 2022 coincided with Elon Musk’s first full month in White House