Earlier this week: Trump doubled steel tariffs to 50%. Tesla execs raise red flags after Musk denied $25K EV cancellation, Reuters reports. U.S. auto sales slow in May as tariff pressures and inventory challenges mount. Stellantis names Sébastien Jacquet as new Chief Quality Officer amid executive restructuring. BMW to build electric iX5 and iX7 in U.S. despite tariff shifts. Lucid slashes prices by over $31K on 2025 Air models. A tariff-fueled shortage drives up prices for both new and used cars across the market.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
1. Trump doubles steel tariffs to 50%
According to President Donald Trump’s post on Truth Social, he announced that tariffs on steel imports will double to 50%, a move aimed at strengthening the domestic steel industry, effective June 4. Read More
2. Tesla execs raise red flags after Musk denied $25K EV cancellation, Reuters reports
An exclusive Reuters report reveals some senior Tesla executives were alarmed last year when CEO Elon Musk publicly denied canceling the company’s highly anticipated $25,000 electric vehicle, internally known as the Model 2, despite having already shut down the project, according to multiple people familiar with the matter. Read More
3. U.S. auto sales slow in May as tariff pressures and inventory challenges mount
Retail momentum in the U.S. auto market slowed in May, with several automakers still reporting gains despite a cooldown from the tariff-driven sales rush seen in March and April. New vehicle purchases continued to rise, but at a more tempered pace, as Memorial Day deals and strong demand supported volume even as affordability concerns and inventory challenges mounted. Read More
4. Stellantis names Sébastien Jacquet as new Chief Quality Officer amid executive restructuring
Stellantis has appointed Sébastien Jacquet as Chief Quality Officer, effective Monday, with his role transition taking place immediately. He will succeed Antonio Filosa, who was recently promoted to CEO amid Stellantis’ executive reshuffling following the abrupt departure of former CEO Carlos Tavares in December. Read More
5. BMW to build electric iX5 and iX7 in U.S. despite tariff shifts
German luxury automaker BMW is moving forward with plans to build fully electric versions of its iX5 and iX7 SUVs at its Spartanburg assembly plant in South Carolina, despite recent disruptions from U.S. trade policy changes under President Donald Trump. Read More
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6. Lucid slashes prices by over $31K on 2025 Air models
Lucid Motors is rolling out its most aggressive incentives yet, offering over $31,000 in discounts on select 2025 Lucid Air models through the end of June. The limited-time offer is available nationwide and is part of the EV maker’s ongoing efforts to drive demand and compete more directly with Tesla and other luxury electric brands. Read More
7. Tariff-fueled shortage drives up new and used car prices across the market
Rising tariffs are beginning to push new and used car prices higher across the U.S. as pre-tariff inventory dwindles and automakers raise prices in response to increased import costs. Consumers who rushed to buy tariff-free vehicles helped fuel a sales boom this spring, but dealers now face constrained supply, especially on affordable models, and are paying more for trade-ins to restock their lots. Read More
8. Durran Cage urges dealers to stop chasing new leads and start fixing CRM habits
On the latest episode of Inside Automotive, we sit down with Durran Cage, founder and owner of Cage Automotive, to discuss a fundamental problem plaguing many dealerships today: underutilized CRMs. Watch the full segment here.
9. Jonathan Dawson breaks down the three pillars of great leadership
In today’s episode of Mind Your Own Business, host Jonathan Dawson outlines three proven, practical principles that make a pivotal difference in dealership profits based on his recent Leadership Mastery Workshop. A successful, well-thought-out strategy must be defined with a clear end goal in mind. Watch the full segment here.
10. How Cox Automotive leverages CDPs and AI to strengthen dealer-connection – Jade Terreberry & Susan Blue
Customer data platforms (CDPs) have officially crossed the threshold from industry jargon to critical dealership infrastructure, according to Cox Automotive executives Jade Terreberry and Susan Blue. During today’s episode of Driving Solutions, the pair details how Cox’s native CDP capabilities are aiding dealers in delivering highly personalized experiences in real-time, without needing to bolt on third-party tools or reinvent their tech stack. Watch the full segment here.
11. Smart marketing is about the message, not just the frequency
With car buyers representing just a sliver of the population, roughly 2% at any given time, dealers can’t afford to waste outreach. The difference between being remembered and being ignored comes down to one thing: relevance. In this episode of Marketing Matters, Digital Marketing Director Colin Carasquillo explains how consistent, personalized messaging keeps dealerships visible and profitable in a hypercompetitive marketplace. Watch the full segment here.
