All posts tagged: Automakers

Automakers can’t figure out what the hell is going on with Trump’s tariffs

Automakers can’t figure out what the hell is going on with Trump’s tariffs

Published by Webster

It started last week with Tesla, followed quickly by General Motors, Mercedes-Benz, and Volvo. Automakers across the spectrum are pulling their guidance for the year because they can’t figure out how to accurately plan for the future thanks to President Donald Trump’s ever-shifting tariffs. The auto industry is paralyzed by uncertainty. Stellantis, the parent company of Jeep, Dodge, and Ram, also recently scrapped its profit guidance for the year, with Chief Financial Officer Doug Ostermann telling analysts, “Most of us are in a period of waiting for a bit more clarity,” according to Reuters. The lack of clarity was even more stark this week, as Trump signed a new executive order walking back some of the tariffs he had just imposed. Now car companies that pay a 25 percent tariff on auto imports won’t have to pay other levies, like on steel and aluminum, or on certain imports from Canada and Mexico. And yet the rules don’t appear to protect automakers from tariffs on steel and aluminum that their suppliers pay and pass on to …

Trump grants one-month exemption to US automakers from tariffs on cars from Mexico, Canada | World News

Trump grants one-month exemption to US automakers from tariffs on cars from Mexico, Canada | World News

Published by Parlour News

In a major relief to the automobile industry, US President Donald Trump’s administration has announced a one month exemption on his proposed tariffs on imports from Mexico and Canada for US automakers amid apprehensions that tariffs by the US and retaliatory measures by Canada, Mexico could crush domestic manufacturing. According to White House press secretary Karoline Leavitt, the month-long pause on tariffs came as Trump spoke with leaders of the “big 3” automakers Ford, General Motors and Stellantis on Wednesday. “At the request of the companies associated with USMCA, the president is giving them an exemption for one month so they’re not at an economic disadvantage,” Leavitt said at the daily press briefing, however, it is a temporary measure and the tariffs are not off in any manner. Story continues below this ad The White House press secretary was asked if 30 days was enough for the automobile industry to prepare for the new tariffs, Leavitt said that Trump was direct with the automakers who sought exemptions. “He told them that they should get on …

Automakers brace for ‘massive’ impact of Trump’s tariffs

Automakers brace for ‘massive’ impact of Trump’s tariffs

Published by Webster

Your next car purchase is probably going to be more expensive, thanks to President Donald Trump. Around 5.3 million vehicles are built in Canada and Mexico, 70 percent of which are destined for the United States. Those vehicles will soon be subject to 25 percent tariffs, which were just announced by the Trump administration. And the companies paying the higher price to import those vehicles are very likely to pass that cost along to the consumer — to you. You may not see higher MSRPs right away, says Mike Wall, executive director for automotive analysis at S&P Global Mobility. But you will likely see fewer incentives and special deals at dealerships as dealers get stingier about their vehicle inventories. Perhaps fewer vehicles even get made as manufacturers weigh the costs of paying 25 percent duties on key parts and components. Eventually, the higher cost of building and selling a car in the US will filter down to the consumer. Around 5.3 million vehicles are built in Canada and Mexico, 70 percent of which are destined …

Automakers sue to block Biden’s ‘flawed’ automatic emergency braking rule

Automakers sue to block Biden’s ‘flawed’ automatic emergency braking rule

Published by Webster

A new rule requiring all vehicles to have automatic emergency braking is “flawed” and should be repealed, a new lawsuit filed by the auto industry’s main lobbying group says. The suit was filed in US Court of Appeals for the D.C. Circuit by the Alliance of Automotive Innovation, which represents most of the major automakers, including Ford, General Motors, Stellantis, Hyundai, Volkswagen, and Toyota. The group is asking the court to overturn the new rule, which was finalized last year, requiring all vehicles to have automatic emergency braking (AEB) by 2029. But after the rule was finalized, the alliance petitioned NHTSA to “reconsider” it, arguing that current technology was insufficient to meet the high standards outlined by the regulation. The group also claimed that its suggestions were rejected during the rulemaking process, and urged NHTSA to reconsider several key provisions in order to make it more achievable by the target date. But NHTSA denied the group’s petition, stating that the requirements were “practicable” and that the overall aim is to “force” the industry to adopt new …

Automakers plead with Trump: don’t kill the EV tax credit

Automakers plead with Trump: don’t kill the EV tax credit

Published by Webster

The auto industry is sending an urgent message to President-elect Donald Trump: spare the $7,500 electric vehicle tax credit. In a November 14th letter to Trump and his transition team, the auto industry’s main lobbying group urges the new administration to preserve incentives for EV buyers and manufacturers that were enacted under President Joe Biden, arguing these policies keep the US competitive globally while also creating “good jobs.” The Alliance for Automotive Innovation, which represents the Big Three automakers — Ford, General Motors, and Stellantis — as well as foreign car companies that sell in the US, are calling on Trump to “promote stability and predictability in auto-related emissions standards.” But at the same time, the group endorsed “reasonable and achievable emissions regulations,” suggesting that there may be some wiggle room for a partial rollback of Biden’s tailpipe rules. Calling on Trump to “promote stability and predictability” Of course, expecting that Trump will promote stability and predictability while in office seems woefully optimistic — and perhaps disconnected from reality. Trump has said bluntly many times …

PM Modi asks automakers to bring global best practices to India, focus on clean mobility

Published by Parlour News

Prime Minister Narendra Modi arrives for a meeting with Abu Dhabi’s Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, at the Hyderabad House in New Delhi on September 9, 2024. | Photo Credit: PTI Prime Minister Narendra Modi on Tuesday (September 10, 2024) asked the automotive industry to bring global best practices to India, while also working on green and clean mobility. In a written address to the annual convention of the Society of Indian Automobile Manufacturers (SIAM), Mr. Modi said the automotive industry will drive even higher economic growth and in turn, thrive on demand growth. “As we shift gears towards our collective goal of a Viksit Bharat by 2047, I am confident that organisations like SIAM will continue to bring together all stakeholders and become a force multiplier in this mission,” he said. The prime minister said the road ahead demands that the country’s progress is rapid, while also being sustainable. “Working (on) greener and cleaner mobility is a vital step in this direction. It is important that this climate-conscious and …

Tesla Handed a Boost as Government Promises to Lower EV Import Taxes for Automakers Investing $500 Million

Published by Webster

India said on Friday it will lower import taxes on certain electric vehicles for companies committing to at least $500 million (roughly Rs. 4,142 crore) in investment and manufacturing facilities within three years, potentially bolstering Tesla’s plans to enter the market. The policy is a big win for Tesla as it’s in line with what the company had been lobbying for in New Delhi. Sources said last July that the carmaker had offered to build a factory but, in the meantime, wanted a cut in import taxes that CEO Elon Musk said were among the highest in the world. For years, Musk has tried to enter the Indian market but New Delhi wasn’t keen unless he committed to local manufacturing. Tesla officials visited India several times in recent months, with Musk also meeting Prime Minister Narendra Modi last year. Companies that meet the investment and manufacturing requirements will be allowed to import a limited number of EVs at a lower tax of 15 percent on cars costing $35,000 (roughly Rs. 29 lakh) and above. India …

Xiaomi Unveils SU7 Electric Car, Says It Aims to Be Among Top 5 Automakers

Published by Webster

Chinese smartphone maker Xiaomi took the wraps off its first electric vehicle on Thursday and promptly announced it was aiming to become one of world’s top five automakers. The sedan, dubbed the SU7, is a highly anticipated model that is expected to make the most of its shared operating system with the company’s popular phones. But the car is making its debut at a time when the world’s largest auto market is wrestling with a capacity glut and slowing demand that have stoked a bruising price war. That didn’t stop Xiaomi Chief Executive Lei Jun outlining big ambitions that include building “a dream car comparable to Porsche and Tesla”. “By working hard over the next 15 to 20 years, we will become one of the world’s top 5 automakers, striving to lift China’s overall automobile industry,” Lei said at the event. Like several other tech firms, Xiaomi has been seeking to diversify beyond its core business to EVs – a plan it first flagged in 2021. It has pledged to invest $10 billion (roughly Rs. 83,171 …