ICYMI: Detroit automakers lock in steel deals to shield from tariff costs. Used and CPO car sales jump as buyers seek affordability. California boosts EV incentives and charging access. Tesla offers $0-down leases on used Model 3 and Model Y EVs in the U.S. Jeep unveils the 2026 Cherokee with a hybrid engine.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
Detroit automakers lock in multiyear steel deals as tariffs raise cost fears
Cleveland-Cliffs Inc. has signed rare multiyear fixed-price contracts with several U.S. automakers, including General Motors, as the industry braces for higher costs tied to President Donald Trump’s tariffs on imported steel. The agreements, which run two to three years, cover industry-standard sheet steel and mark a sharp shift from Cliffs’ usual one-year contracts, according to people familiar with the matter. Terms of the deals, including pricing, were not disclosed. Read More
Used-vehicle and CPO sales surge in July as demand holds steady
Retail used-vehicle sales rose sharply in July, reaching 1.52 million units sold across franchised and independent dealers, according to Cox Automotive’s vAuto Live Market View data. The total marked an 8.9% increase from June and a 7% gain compared with July 2024, underscoring steady consumer demand in a competitive market. Read More
California moves to boost EV sales and emissions rules
California regulators are moving forward with plans to support electric vehicle (EV) adoption and strengthen auto emissions standards in response to federal rollbacks under the Trump administration. The California Air Resources Board (CARB) and five other state agencies recommended backfilling the $7,500 federal EV tax credit set to expire in September. Proposed incentives could include vouchers, rebates, or other measures to help boost sales and expand the availability of used EVs. The recommendations follow a June executive order from Governor Gavin Newsom directing CARB to begin developing new rules for automobile emissions. Read More
Tesla launches $0-down leases on used EVs to boost Q3 sales
Tesla is offering leases on certified pre-owned (CPO) vehicles for the first time, a move designed to accelerate sales before the end of the quarter. The new program is available in California and Texas for Model 3 and Model Y vehicles, with leases starting as low as $215 per month and requiring no down payment aside from a $695 acquisition fee and the first month’s payment. Read More
Jeep unveils 2026 Cherokee with hybrid power, bigger interior to reverse sales slump
Jeep is reintroducing the 2026 Cherokee to the U.S. market with a complete redesign aimed at reversing six consecutive years of declining sales. This new model features Jeep’s first hybrid system in North America, powered by a 1.6-liter turbocharged four-cylinder hybrid engine capable of exceeding 500 miles per tank. Read More
Next Week: Exclusive Interviews You Can’t Miss
Keffer Auto Group’s Jim Keffer expands with people-first philosophy amid industry headwinds
On the heels of its latest acquisition, Keffer Auto Group is proving that growth is possible even in a challenging retail climate. On this upcoming episode of Inside Automotive, CEO Jim Keffer discussed how the group navigates industry headwinds, from shifting consumer demand to tariff concerns, while continuing to expand its footprint.
Laura Perrotta on NJ CAR’s new program tackling auto tech crisis
New Jersey needs over 12,500 new technicians by 2026 to replace retiring workers. To address this urgent issue, the New Jersey Coalition of Automotive Retailers (NJ CAR) has launched a new technician training program. In this upcoming episode of Service Drive, NJ CAR President Laura Perrotta shares how the initiative works and its potential long-term impact on the state’s auto retail sector.
