automobile News Updates

The remarks come as the U.S. and Mexico begin formal talks on potential changes to the continental trade pact known as USMCA.

U.S. tariffs pushed by President Donald Trump and supply chain disruptions are eroding Mexico’s gains as a manufacturing hub.

Officials have discussed requiring vehicle imports to have a minimum amount of U.S. parts, and limiting automakers' ability to lower their tariff rates under USMCA.

Buyers find themselves facing sticker shock at the same time they are already frustrated by the lingering effects of high inflation.

Stellantis reaffirmed its commitment to its Italian manufacturing operations, making a pledge to hire 400 additional workers to bolster production at its Mirafiori plant in Turin.

Auto part supplier First Brands Group is preparing to enter bankruptcy with no restructuring plan in place, a sign of how quickly the company’s fortunes are unraveling, sources said.

Several parts makers face idle capacity and are under pressure from carmakers to lower prices.

The development could increase pressure on First Brands, which has been considering whether to file for bankruptcy to raise a rescue loan after halting a $6 billion refinancing in August.

First Brands Group is preparing to file for bankruptcy as soon as next week and is looking to secure a loan of at least $1 billion to keep the business running, according to sources.

Auto parts maker First Brands Group is discussing options with its creditors for restructuring its $6 billion debt load that include a possible Chapter 11 bankruptcy filing.