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
Tag: GM
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
May Mobility to launch robotaxis on Uber platform this year in Texas
Startup May Mobility plans to deploy its autonomous vehicles on the Uber platform by the end of 2025, starting in Arlington, Texas, as part of a multi-year partnership. The tie-up with Uber offers May Mobility a chance to grow beyond offering shuttles within campuses and planned communities, while Uber adds May Mobility to its growing… Continue reading May Mobility to launch robotaxis on Uber platform this year in Texas
Tesla is the only EV brand with negative perception, and it’s getting worse
Tesla is the only EV brand with a net negative brand perception, according to the Electric Vehicle Intelligence Report – and much of the negative shift has happened in the last 6 months. The Electric Vehicle Intelligence Report (EVIR) surveyed 8,000 US consumers to ask them questions about electric vehicle purchasing decisions, both asking about… Continue reading Tesla is the only EV brand with negative perception, and it’s getting worse
Automakers report significant April sales increases amid tariff fear-buying, but the good times may not last
The Ford display is seen at the New York International Auto Show on April 16, 2025. Danielle DeVries | CNBC DETROIT — Automakers such as Ford Motor, Hyundai Motor and Kia on Thursday reported significant year-over-year U.S. sales increases in April as consumers rushed to purchase new vehicles ahead of potential price hikes due to… Continue reading Automakers report significant April sales increases amid tariff fear-buying, but the good times may not last
GM lowers 2025 guidance, citing up to $5 billion in tariff exposure
watch now DETROIT — General Motors on Thursday lowered its 2025 financial guidance to include an expected $4 billion to $5 billion impact as a result of President Donald Trump‘s auto tariffs. The Detroit automaker said its new guidance includes adjusted earnings before interest and taxes of between $10 billion and $12.5 billion. That compares… Continue reading GM lowers 2025 guidance, citing up to $5 billion in tariff exposure
Auto giants ditch financial guidance as industry reels from Trump tariff chaos
New vehicles displayed for sale at a General Motors Co. Chevrolet dealership in Miami, Florida, US, on Saturday, April 5, 2025. Bloomberg | Bloomberg | Getty Images European auto giants reported a sharp drop in first-quarter profit, and many suspended or cut full-year financial guidance, partially attributing the industry pain to U.S. President Donald Trump‘s… Continue reading Auto giants ditch financial guidance as industry reels from Trump tariff chaos
McDonald’s and General Motors say Trump’s tariff war is harming business
Donald Trump serves up fries last year. McDonald’s says it is facing the ‘toughest of market conditions’. Photograph: Doug Mills/Reuters View image in fullscreen Donald Trump serves up fries last year. McDonald’s says it is facing the ‘toughest of market conditions’. Photograph: Doug Mills/Reuters McDonald’s and General Motors say Trump’s tariff war is harming business… Continue reading McDonald’s and General Motors say Trump’s tariff war is harming business
Lyft launches ‘Lyft Silver’ for older riders, with simpler app and more accessible vehicles
The ridehailing company is introducing a new feature for older riders that includes actual humans answering customer service calls. The ridehailing company is introducing a new feature for older riders that includes actual humans answering customer service calls. Andrew J. Hawkins is transportation editor with 10+ years of experience who covers EVs, public transportation, and… Continue reading Lyft launches ‘Lyft Silver’ for older riders, with simpler app and more accessible vehicles