Earlier this week: Ford suspends its 2025 financial forecast. BMW anticipates tariff relief by July. Audi maintains its 2025 financial outlook. GM cuts shifts at Ontario plant. UAW urges automakers to utilize idle U.S. plant capacity. The Fed leaves interest rates unchanged. Transportation Secretary Sean Duffy will shrink the workforce by the end of May.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
1. Ford suspends forecast as Trump tariffs cut $1.5B from 2025 earnings
Ford has suspended its full-year financial forecast, citing a projected $1.5 billion hit to its 2025 adjusted earnings from President Donald Trump’s auto tariffs. The automaker said shifting trade policies and rising costs are creating uncertainty across its operations, prompting the move. Read More
2. BMW expects U.S. tariff relief by July, holds 2025 outlook as rivals retreat
The German automaker, BMW, said Wednesday that it expects some U.S. auto tariffs to decline starting in July, noting discussions with American policymakers and signaling confidence in its 2025 financial outlook even as other automakers pull back amid trade uncertainty. Read More
3. Audi maintains 2025 financial outlook despite profit drop
Audi will maintain its full-year financial outlook for 2025 despite profit drops and the uncertainty caused by the United States’s automotive tariffs. The automaker projects revenue of $76.28 billion to $81.93 billion and an operating margin of 7% to 9%. However, the guidance excludes two critical impacts on the business: the potential consequences of the United States’ new automotive tariffs on imports and shifting costs tied to a recently negotiated labor deal. Read More
4. GM cuts shifts in Ontario plant, impacting 700 jobs due to auto tariffs
General Motors (GM) will eliminate one of three shifts at its Oshawa, Ontario, plant, cutting roughly 700 jobs as the automaker adjusts its North American operations in response to President Donald Trump’s 25% tariff on imported vehicles. The move, announced Thursday, reflects GM’s updated demand forecast and the ongoing impact of U.S. trade policy. Read More
5. UAW pushes automakers to fill idle U.S. plant capacity, citing potential for 90,000 new jobs
The United Auto Workers (UAW) is calling on automakers to maximize production at underutilized U.S. factories, claiming the move could generate up to 90,000 new manufacturing jobs and over 630,000 jobs across the broader economy. The message was laid out in a white paper titled “Unlocking the Potential of U.S. Auto Manufacturing Capacity,” released in April. Read More
6. Fed holds rates steady as auto market braces for volatility
The Federal Reserve left interest rates unchanged Wednesday after its third meeting of 2025. This marks the third consecutive month the Fed has held rates steady, and they did not issue any new projections or dot plans, leaving the markets with minimal guidance. Despite growing political pressure from the Trump administration in response to the uncertainty caused by newly implemented tariffs, the Fed continues to adopt a wait-and-see approach. Read More
7. Transportation Secretary plans to cut workforce by end of May under Trump’s efficiency push
Speaking at a department town hall on May 2, Transportation Secretary Sean Duffy announced that the Department of Transportation will carry out a reduction in force (RIF) at the end of May, part of the Trump administration’s broader directive to reduce the federal workforce. Read More
8. Ben Keating on dealer legacy, racing discipline, and why he’s all-in on omnichannel auto retail
On this episode of Executive Profile, CBT News traveled to Victoria, Texas, to meet with Ben Keating, a third-generation car dealer and professional race car driver who has carved out an extraordinary path in both industries. As the president of Keating Auto Group, Keating’s journey is a blend of legacy, grit, and a surprising return to a business he once resisted. Watch the full segment here.
9. CNCDA President Brian Maas leads lawsuit against VW’s Scout Motors
The California New Car Dealers Association (CNCDA) has filed a lawsuit against Volkswagen and Scout Motors. CNCDA President Brian Maas joins us in today’s Inside Automotive episode to share the details of the lawsuit and why this battle is critical to safeguarding the foundation of the dealer network. Watch the full segment here.
10. Dealer roundtable: Navigating tariffs, EVs, AI, and the path ahead
In today’s episode of Inside Automotive, host Jim Fitzpatrick welcomes four seasoned retail leaders: Chris Saraceno, VP and partner of Kelly Auto Group; John Roberts, vice president and GM of Roberts Motors Ford; Jim Henne, president of Performance Motors; and Joseph Robinson, general manager of Robinson Toyota for a dealer roundtable discussion about tariffs, EV adoption, AI, and the future of retail automotive. Watch the full segment here.
