Earlier this week: Stellantis’s CFO discussed tariffs, production shifts, and CEO transition challenges. GM to transfer ownership of Lansing battery plant to LG Energy Solution. Vivek Ramaswamy slams Biden’s final spending moves, vows DOGE review. GM takes $5B hit in restructuring China’s joint venture operations. Volkswagen faces escalating tensions as strikes loom over cost-cutting measures. Court rejects dealer challenge to Volvo’s prepaid maintenance reimbursement rates. Jaguar unveils ‘Type 00’ concept with daring new look.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
1. Stellantis CFO talks tariffs, production shifts, and CEO transition challenges
Stellantis is proactively preparing for potential challenges posed by tariffs under the upcoming Trump administration. Yet, the company’s Chief Financial Officer (CFO), Doug Ostermann, emphasized the automaker’s ability to adjust operations as needed. Speaking at Goldman Sachs’ 16th Annual Industrials and Autos Week, Ostermann outlined Stellantis’ contingency plans in light of potential 25% tariffs on goods from Mexico and Canada, as threatened by President-elect Donald Trump. Read More
2. GM to transfer ownership of Lansing battery plant to LG Energy Solution
General Motors (GM) has announced a non-binding agreement to sell its stake in the nearly completed Ultium Cells LLC battery cell plant in Lansing, Michigan, to its joint venture partner, LG Energy Solution. The transaction, expected to close in the first quarter of 2025, marks a strategic move to enhance operational efficiency in GM’s electric vehicle (EV) production.
3. Vivek Ramaswamy slams Biden’s final spending moves, vows DOGE review
As co-lead of the Department of Government Efficiency (DOGE) in the upcoming Trump administration, Vivek Ramaswamy is making waves by emphasizing cuts to government spending. However, he remains cautious about revealing the full scope of his targets. At the CNBC CFO Council Summit in Washington, D.C., Ramaswamy shared preliminary insights into DOGE’s priorities.
4. GM takes $5B hit in restructuring China’s joint venture operations
General Motors (GM) is undergoing a significant restructuring of its joint venture operations with SAIC Motor Corp. in China. The Detroit automaker estimates that the restructuring will cost more than $5 billion in non-cash charges and writedowns. This revelation came in a federal filing made by GM on December 4.
5. Volkswagen faces escalating tensions as strikes loom over cost-cutting measures
Volkswagen’s ongoing dispute reached a boiling point this week as CEO Oliver Blume and Chairwoman of General and Group Works Councils of VW Daniela Cavallo faced off during a staff meeting at the Wolfsburg plant. The contentious gathering, attended by 20,000 employees and German Labour Minister Hubertus Heil, underscored the high stakes of ongoing negotiations between management and workers. Read More
6. Court rejects dealer challenge to Volvo’s prepaid maintenance reimbursement rates
A federal court in Massachusetts ruled that selling and servicing under Volvo Cars USA’s branded prepaid maintenance program isn’t part of dealerships’ franchise obligations. The Plaintiffs, two Volvo dealerships in Hyannis and Plymouth, argued that their reimbursements fell short of their usual service charges. They claimed that this practice violated state law, which mandates that manufacturers pay dealers fairly for their work. Read More
7. Jaguar unveils ‘Type 00’ concept with daring new look
On Monday, Jaguar revealed its latest concept car, the “Type 00,” marking a bold step in its journey toward becoming an all-electric brand. The all-electric vehicle features a flamboyant minimalistic design, combining a boxy shape with sleek headlights and dramatic 23-inch alloy wheels. The brand plans to launch several new electric vehicles in the coming years, including a highly anticipated four-door GT set to be revealed in late 2025. Read More
8. Matt Bowers calls for Stellantis to refocus on North America after CEO resignation
In the wake of Stellantis CEO Carlos Tavares’ resignation, the automotive industry is grappling with speculation about the company’s next steps. On this episode of Inside Automotive, Matt Bowers, owner of Matt Bowers Auto Group, shares his unfiltered perspective. With a growing empire of 14 dealerships across four states, Bowers provides a dealer’s take on Stellantis’s challenges and what’s needed to drive future success. Watch the full segment here.
9. Mastering the art of dealership buy-sells with Andy Gill
Are you thinking about selling or buying a dealership soon? The right partner can make all the difference. In today’s Driving Solutions, we’re joined by Andy Gill, the founder and CEO of Gill Automotive Group, to learn how his group is helping owners navigate the buy-sell process. Watch the full segment here.
10. How comprehensive service platforms and AI enhance dealership profits with Skyler Chadwick
In today’s competitive landscape, service departments are under increasing pressure to boost efficiency and profitability. On this edition of Fixed Ops PowerLunch, we sit down with Skyler Chadwick, Director of Product Consulting at Cox Automotive, to discuss how a comprehensive service platform can transform dealership operations. . Watch the full segment here.
