Fair 52°
Tag:

Auto Industry

Business
Trump Tariffs Hit Ford Harder Than Foreign Rivals, US Automaker Says Trump Tariffs Hit Ford Harder Than Foreign Rivals, US Automaker Says
Trump Tariffs Hit Ford Harder Than Foreign Rivals, US Automaker Says The automaker that builds more cars in the US than any other company says it may actually be hurt more by President Donald Trump's tariffs than foreign manufacturers. Ford said it's at a disadvantage compared to companies based in the European Union, Japan, and South Korea, The Wall Street Journal reported. Trump has set the tariff rate for those nations at 15%, significantly lower than the broad 25% duty on autos and light trucks that began in the spring. The 15% duties are the newest in Trump's rapidly changing tariff policies, with the latest rates going into effect on Friday, Aug. 1. Be…

SHARE

by Chris Spiker
Business
GM Suffers $1.1B Hit Because Of Trump's Tariffs GM Suffers $1.1B Hit Because Of Trump's Tariffs
GM Suffers $1.1B Hit Because Of Trump's Tariffs General Motors had a $1 billion hit over three months due to President Donald Trump's sweeping tariffs that have shaken the auto industry. GM reported a net income of $1.9 billion for the second quarter of 2025, down by about $1.1 billion from Q2 2024. Revenue slipped 1.8% to $47.1 billion. The automaker's North American operations were hit hardest, with profits falling nearly 46%. GM previously lowered its full-year outlook in May to account for a projected $4 billion to $5 billion tariff hit, which didn't change in the Q2 earnings report. Chief financial officer Paul …

SHARE

by Chris Spiker
Business
Volvo Slashing Up To 800 East Coast Jobs As Trump's Tariffs, Low Demand Rattle Automakers Volvo Slashing Up To 800 East Coast Jobs As Trump's Tariffs, Low Demand Rattle Automakers
Volvo Slashing Up To 800 East Coast Jobs As Trump's Tariffs, Low Demand Rattle Automakers Up to 800 workers are being laid off at Volvo plants across the mid-Atlantic as concerns grow about the US auto industry due to President Donald Trump's tariffs. Volvo Group North America will lay off 550 to 800 employees, a company spokesperson confirmed to the Daily Voice on Friday, April 18. The layoffs will happen at plants in Maryland, Pennsylvania, and Virginia. The Swedish automaker cited the need to adjust to worsening economic conditions. "Heavy-duty truck orders continue to be negatively affected by market uncertainty about freight rates and demand, possible regulatory chang…

SHARE

by Chris Spiker
Business
Panic Buying Shrinks US Vehicle Supply As Trump's Tariffs Set Up Summer Price Hikes Panic Buying Shrinks US Vehicle Supply As Trump's Tariffs Set Up Summer Price Hikes
Panic Buying Shrinks US Vehicle Supply As Trump's Tariffs Set Up Summer Price Hikes The US supply of new and used vehicles is quickly declining after car shoppers rushed to make purchases before President Donald Trump's sweeping tariffs shook the auto industry, setting the stage for a costly summer. New-vehicle stock fell to 2.69 million units by Tuesday, April 1, according to auto data company Cox Automotive. That was down 10.2% from the start of March and 2.4% lower than the same time in 2024. Buyers flooded showrooms in the final week of March, driven by seasonal trends and fears of price hikes tied to Trump's rapidly changing tariffs. "With import tariffs no…

SHARE

by Chris Spiker
News
Unemployment Fears Hit 16-Year High As Trump's Tariffs Shake Consumer Confidence: Survey Unemployment Fears Hit 16-Year High As Trump's Tariffs Shake Consumer Confidence: Survey
Unemployment Fears Hit 16-Year High As Trump's Tariffs Shake Consumer Confidence: Survey Americans' concerns about rising unemployment are at their highest since the global financial crisis as President Donald Trump’s escalating tariffs and economic policies sink consumer confidence. Two-thirds of US consumers expect unemployment to increase over the next year, the University of Michigan's Surveys of Consumers said on Friday, Mar. 28. This marks the highest level of job market pessimism since 2009, reflecting widespread fears that economic uncertainty. Joanne Hsu, Michigan’s director of the surveys, said March's rising worries underscore mounting concerns across all d…

SHARE

by Chris Spiker
Politics
Former NY Congressman, Gubernatorial Candidate Lee Zeldin Named To Trump's Cabinet Former NY Congressman, Gubernatorial Candidate Lee Zeldin Named To Trump's Cabinet
Former NY Congressman, Gubernatorial Candidate Lee Zeldin Named To Trump's Cabinet President-elect Donald Trump has selected former New York congressman and gubernatorial candidate Lee Zeldin to run the Environmental Protection Agency (EPA). In a statement on Monday, Nov. 11, Trump said Zeldin "will ensure fair and swift deregulatory decisions that will be enacted in a way to unleash the power of American businesses," adding that Zeldin will still maintain "the highest environmental standards." In a post on social media, Zeldin said, "It is an honor to join President Trump’s Cabinet as EPA Administrator. "We will restore US energy dominance, revitalize our auto indu…

SHARE

by Joe Lombardi