All articles tagged with #car industry
The IRS announced that new cars assembled in the US purchased from 2025 to 2028 may qualify for a tax deduction on car loan interest, contingent on final assembly location, aiming to boost domestic auto manufacturing under Trump’s policy. About 14 of the top 25 models sold in 2024 are US-assembled, with potential for millions of qualifying vehicles, though some models assembled in multiple countries may not qualify.
In 2025, General Motors led U.S. vehicle sales with over 2.8 million units sold, despite a slowdown in the year's final quarter, driven by industry adjustments to tariffs and consumer incentives, with Toyota and Ford following in market share and sales volume.
The European Commission has relaxed its plans to phase out new petrol and diesel cars by 2035, allowing 10% of sales to be non-zero emission vehicles, amid lobbying from carmakers and concerns over market demand, while opponents warn this could hinder the transition to electric vehicles and competitiveness.
The UK and South Korea have signed a new trade agreement to boost exports of cars, salmon, Guinness, and other goods, reducing tariffs and easing rules for car parts, while also expanding opportunities for UK service providers and digital trade. The deal aims to increase economic growth and strengthen the UK’s position in global trade.
Opponents are pushing to weaken the EU's 2035 ban on combustion engines, with industry players like Stellantis seeking more flexibility, amidst political battles involving far-right parties and debates over environmental regulations.
The Trump administration proposes rolling back Biden-era fuel economy standards, encouraging Detroit automakers to produce more gas-guzzling vehicles like station wagons and kei cars, while critics argue this will harm the environment and consumer costs. The move aims to boost automaker profits and vehicle affordability, but risks slowing EV adoption and environmental progress.
The dispute between China and the Netherlands over Chinese-owned chipmaker Nexperia is unlikely to be quickly resolved, causing ongoing uncertainty in semiconductor supplies for the global car industry amid broader trade tensions and export bans.
A dispute over Chinese-owned chipmaker Nexperia in the Netherlands, involving government seizure and US sanctions, threatens to disrupt the global car industry's supply chain, despite local calmness masking the underlying tensions.
Electric vehicles in the US have recently become cheaper than gas cars due to falling prices and government incentives, but this trend may be temporary as incentives expire and automakers adjust production, potentially causing prices to rise again. The shift is driven by recent price cuts, tax credits, and increased supply, but long-term EV adoption depends on continued cost reductions and policy support.
Dodge CEO Matt McAlear hinted that a V-8 powered Charger could return, suggesting the platform can accommodate a Hemi V-8, signaling a possible revival of combustion engines amid regulatory and market shifts, with an official announcement expected soon.
Despite the U.S. government's removal of federal incentives and a political shift away from supporting electric vehicles, automakers are still investing in EV technology due to global growth and long-term profitability prospects, with some signs of gradual recovery in U.S. sales and infrastructure development.
U.S. automakers are disappointed with a new trade deal between the US and Japan, as it maintains high tariffs and doesn't address their main challenges, such as producing small cars preferred in Japan or navigating different standards, leading to concerns about competitiveness and policy inconsistency.
Stellantis reports that US tariffs imposed by President Trump have cost the company €300 million, leading to reduced shipments, lower sales, and a forecasted net loss, as tariffs disrupt global trade and supply chains in the automotive industry.
Renault's shares dropped over 15% after the company lowered its 2025 financial guidance and appointed Duncan Minto as interim CEO following Luca de Meo's resignation, amid concerns over profit margins, cash flow, and challenging market conditions.
The article discusses the impact of the US-China trade war on Europe's carmakers, highlighting debates over EU policies on combustion engine bans, self-driving car regulations, and the influence of lobbying efforts by automakers to relax emissions rules, amidst ongoing legal and political developments.