ICYMI: Elon Musk buys $1 billion in Tesla stock. U.S. cuts tariffs on Japanese cars and parts from 27.5% to 15%. U.S. plans $5B mining fund to secure key minerals. Fed trims rates to 4%-4.25% and signaled more cuts ahead. GM shuts Michigan center after two workers catch Legionnaires’ disease.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
Tesla shares surge after Musk buys $1B in stock
Tesla shares jumped over 6% during early trading on Monday after CEO Elon Musk revealed he purchased $1 billion worth of stock, signaling confidence in the company’s future and bolstering his push for greater control. Read More
U.S. cuts tariffs on Japanese autos to 15% under trade deal
The United States will formally implement a lower 15% tariff on Japanese automobiles and auto parts effective today, in line with a trade agreement between the two nations, lowering the previous tariff from 27.5%. This reduction stems from an executive order signed earlier this month by President Donald Trump. Read More
U.S. eyes $5B mining fund to boost critical mineral supplies
The United States is negotiating to create a $5 billion fund to invest in mining, which would mark the government’s largest direct involvement in critical mineral deals. The proposed fund would form a joint venture between the U.S. International Development Finance Corp. (DFC) and New York investment firm Orion Resource Partners, according to sources familiar with the matter. Read More
Fed cuts rates, signals two more before year-end
The Federal Reserve on Wednesday approved a widely anticipated quarter-point cut to its benchmark overnight lending rate, lowering it to a range of 4.00%-4.25%, and indicated that two more reductions could come before the end of the year. The move reflects growing concerns over a slowing labor market, even as inflation remains elevated. Read More
GM shuts Michigan engineering center after two workers catch Legionnaires’ disease.
General Motors has closed its Cole Engineering Center north of Detroit until at least Sept. 22 after two employees tested positive for Legionnaires’ disease, temporarily idling a site where about 10,000 people work on future vehicles and technologies. GM shut down the facility Sept. 10 after being notified by the Macomb County Health Department. The company said regular bacteria testing had not found any issues, and the building has not been confirmed as the source of the infections. Read More
Next Week: Exclusive Interviews You Can’t Miss
Dave Cantin urges dealers to prioritize quality over quantity as M&A activity hits record levels
The automotive industry is in the midst of a strategic transformation, and no one sees it more clearly than Dave Cantin, Chairman and CEO of the Dave Cantin Group (DCG). From rising consolidation to the growing influence of AI in dealership valuations, Cantin has his finger on the pulse of the market. On this episode of Inside Automotive, he explains how dealers are becoming smarter, more strategic, and better equipped to seize opportunities, using data to uncover hidden value in their portfolios.Â
AIADA’s Cody Lusk breaks down the economic power of international nameplate dealers
There are 9,387 international nameplate automobile dealer franchises across the country. Today, we’re diving into the economic influence of these dealerships, and we’ll also touch on the new trade agreement with Japan and what it could mean moving forward. Joining us on today’s episode of Inside Automotive is Cody Lusk, the President and CEO of the American International Automobile Dealers Association (AIADA).
