automaker News Updates

The company has so little cash that it has been operating on a week-to-week basis with help from automakers willing to pay in advance to keep vital parts flowing.

An unexpected change in tariff provisions cost Ford about $900 million in savings it expected last year, Chief Financial Officer Sherry House told reporters on Feb. 10.

The Securing Accessible Functional Emergency Exit Act, or SAFE Exit Act, was forwarded to the full committee during a markup session on Feb. 10 by the House Committee on Energy and Commerce.

Gov. Gretchen Whitmer said in a speech at the Detroit Auto Show that the administration's tariff strategy has hurt American auto manufacturing and is benefiting Chinese competitors.

USMCA was one of Trump’s signature achievements during his first term, replacing the 1992 North American Free Trade Agreement. The deal is subject to a mandatory review this year.

Under the new proposal, tailpipe emissions will have to be reduced by 90% by the middle of the next decade compared with the current goal of a 100% reduction.

Motor vehicles fell 1.6%, held down in part by the expiration of federal tax incentives on electric vehicles. Cheaper gasoline prices held down the value of gas station receipts.

Asked in an interview with Politico whether he’d rule out cutting tariffs on more goods than coffee, beef and bananas, Trump said he would “on some, and on some I’ll increase tariffs.”

Trump’s proposal represents a win for the auto and oil industries that argued the requirements pushed the bounds of available technology for getting more miles out of each gallon of fuel.

The cyberattack fallout for JLR, already under pressure from U.S. tariffs, was so severe it dented the U.K. economy and forced the government to step in with an emergency loan guarantee.