ICYMI: Canada hits the U.S. with $20 billion in retaliatory tariffs. Volkswagen’s CEO pushes for deeper job cuts. New-vehicle sales hold steady at 16.4 million SAAR. Honda looks to build a new hybrid plant in the U.S. Hyundai plans 100 new and refreshed models by 2030.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
Canada hits back with $20 billion in tariffs, U.S. automakers brace for rising costs
Canada announced retaliatory tariffs Tuesday on $27.6 billion Canadian ($20 billion) worth of U.S. goods, matching Washington’s latest duties dollar for dollar after trade talks between the two countries collapsed last week, according to a news release from the Department of Finance Canada. The counter-tariffs take effect September 8 and apply rates of 15%, 25% and 50% to products drawn from the same categories the U.S. targeted under its Section 338 and Section 232 tariffs, with each Canadian rate matching the corresponding U.S. rate, the department said. Read More
Volkswagen’s CEO and union leaders clash over deeper cost cuts
Volkswagen CEO Oliver Blume pushed for deeper cost cuts at two of the company’s most vulnerable German plants Wednesday. Labor leaders rejected layoffs and plant closures ahead of a September 4 supervisory board meeting on Volkswagen’s largest restructuring ever. Blume toured electric vehicle plants in Emden and Zwickau. He told workers that recent savings still don’t close the cost gap with Volkswagen’s European competitors. Read More
New vehicle sales hold at 16.4 million SAAR as hybrid demand drives August growth
According to a joint forecast from JD Power and GlobalData, new-vehicle sales are on pace for a 16.4 million seasonally adjusted annualized rate (SAAR) in August, but year-over-year comparisons show declines, with total sales projected to fall 4.8% and retail sales projected to fall 6.9% from August 2025. The pullback follows a stronger July, when JD Power projected new-vehicle sales would rise 1.4% and the SAAR would reach 16.9 million, the year’s highest pace. Read More
Honda targets U.S. for next plant as hybrids surge
Honda Motor Co. is looking to build its next manufacturing plant in the United States as demand for its hybrid lineup outpaces current capacity, a senior executive told reporters at a briefing in Washington, according to Bloomberg. Noriya Kaihara, Honda’s executive vice president, said the automaker needs more North American production to keep up with customer demand. Read More
Hyundai plans 100 new and refreshed models by 2030
Hyundai Motor is planning its largest product rollout in company history, with more than 100 new or refreshed models set to launch worldwide by 2030 as it works to challenge Toyota in the U.S. hybrid market and defend market share against low-cost Chinese competitors, CEO José Muñoz announced at the automaker’s CEO Investor Day in Seoul. Of the more than 100 models planned, 58 will go to North America, Hyundai’s largest market, with the automaker also entering 18 new segments including a midsize pickup, light commercial vehicles and body-on-frame vehicles. Read More
Next week on CBT Live:
Join CBT News Co-Founders Bridget and Jim Fitzpatrick live at noon Eastern each weekday for the latest in automotive news headlines, plus exclusive live interviews with dealers and industry insiders. Monday’s live guests include Michael Gaiter, General Manager at Hoover Volkswagen in Lithia Springs, and Skyler Chadwick, Director of Product Consulting at Cox Automotive.
Watch live at noon every weekday on our social channels: YouTube, TikTok, Lin
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