Earlier this week: GM and Ford brace for the impact of Trump’s 25% import tariffs. Gov. Newsom and Trump go toe-to-toe over EV policy. Tesla and Rivian are close to settling a lawsuit over alleged trade secret theft. Kia and Hyundai recall over 200,000 U.S. EVs. Trump’s new energy plan will prioritize fossil fuels. November vehicle sales surge as consumer confidence hits new heights. The Feds uphold their AEB mandate despite pushback from automakers.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
1. GM and Ford brace for impact of Trump’s 25% import tariffs
Trump’s proposed 25% tariffs on Mexican and Canadian imports spark alarm in the U.S. auto industry, threatening to raise vehicle costs, disrupt EV production, and strain chains. General Motors, the largest exporter of vehicles from Mexico to the U.S., would face a direct hit. In 2024, GM is projected to import over 750,000 vehicles from Mexico and Canada, including popular models like the Chevy Silverado and GMC Sierra. Read More
2. Newsom and Trump clash over EV policy, Tesla left in the crossfire
California Governor Gavin Newsom is preparing for a showdown with President-elect Donald Trump over the future of the $7,500 federal electric vehicle (EV) subsidy. If the subsidy is repealed, Newsom has vowed to propose a state tax credit to replace it, reviving a program that was phased out in 2023. However, Tesla is in the crossfire, and it is likely excluded from the new proposal. Read More
3. Tesla, Rivian near settlement in lawsuit over alleged trade secret theft
Tesla and Rivian near settlement of a four-year lawsuit over alleged theft of Tesla’s battery technology via employee poaching. The lawsuit, filed in 2020, claims that Rivian hired former Tesla employees and encouraged them to bring sensitive, proprietary information related to Tesla’s engineering and battery technology. Read More
4. Kia and Hyundai recalls over 200,000 U.S. EVs due to power issues
The National Highway Traffic Safety Administration (NHTSA) announced the recall of specific electric vehicle (EV) models from Kia, Hyundai, and Genesis due to a potential loss of drive power from damaged charging units that could increase the risk of collisions. These malfunctions have impacted over 208,000 U.S. vehicles, including 62,872 Kia vehicles and 145,235 Hyundai and Genesis vehicles. Read More
5. Trump’s energy agenda puts fossil fuels back at the center
Trump plans an aggressive energy package to expand U.S. oil and gas production, repeal EV tax credits, and reverse key Biden-era climate policies, signaling a shift toward fossil fuel dominance. Read More
6. Vehicle sales surge as consumer confidence hits new heights
According to new data from Cox Automotive, the U.S. auto market is closing 2024 on a strong note. November sales maintained a seasonally adjusted annual rate (SAAR) of 16 million vehicles, consistent with October. This marks a significant improvement over last November’s 15.5 million SAAR, signaling a continued recovery in the automotive sector. Read More
7. Feds back AEB mandate despite pushback from automakers
The National Highway Traffic Safety Administration (NHTSA) has upheld its decision to require automatic emergency braking (AEB) technology in all new passenger vehicles by 2029, despite pushback from the automotive industry. The new regulation, which aims to improve road safety by reducing accidents and saving lives, will remain largely unchanged after a series of minor adjustments. Read More
8. Willie Beck on current M&A trends and dealer outlook
In this episode of Inside Automotive, Wille Beck, Co-Managing Partner of Bel Air Partners, joins us to provide more insight into the merger and acquisition (M&A) market and industry trends. Watch the full segment here.
9. Navigating Nissan’s challenges and thriving in the used car market
In a market where Nissan is struggling to maintain its momentum, Jake Sodikoff, dealer principal at Steven Nissan and owner of HoneyCar, shares his insights on the brand’s ongoing challenges. Watch the full segment here.
10. 40 under 40 Honoree: Nathanael Greklek | Mohawk Auto Group
Today, we’re thrilled to welcome Nathanael Greklek, the chief of branding for Mohawk Auto Group, one of this year’s 40 Under 40 recipients. Watch the full segment here.
