U.S. and Chinese officials announced a 90-day pause on steep tariffs imposed upon each other’s exports, including vehicles and parts, in a sudden de-escalation that could lead to a long-term agreement. +
The United States and the United Kingdom have agreed to a new trade deal that will lower U.S. import taxes on up to 100,000 U.K.-built vehicles per year from 25% to 10%. +
Protective Asset Protection’s Tim Blochowiak urges dealers to create a long-term earnings strategy that includes capital and investments, a diverse F&I portfolio, risk management and more. +
Attorney Tom Oscherwitz warns the auto finance industry not to take its foot off the compliance pedal despite the Trump administration’s systematic dismantling of federal regulatory bodies. +
President Donald Trump has signed an executive order offering some tariff relief for automakers, preserving a 25% levy on imported vehicles but offering offsets for the cost of imported parts. +
Tesla CEO Elon Musk told investors he will reduce his role as a senior White House advisor to one or two days per week after reporting a 71% decline in net income, led by a 20% drop in automotive revenue. +
A Gallup poll finds 51% of Americans own or are open to owning an EV, unchanged from a year ago and down from 59% in 2023. Only 11% say they already own one or are “seriously considering” it. +
Sen. Bernie Moreno’s USA CAR Act would allow buyers of American-made vehicles to deduct interest paid on their auto loans, formalizing a tax policy repeatedly floated by President Donald Trump. +
President Donald Trump has spared vehicle manufacturers and some auto part suppliers from sweeping new “reciprocal” tariffs announced today. Both remain subject to 25% tariffs announced in March. +
The S&P 500 suffered a 5.8% decline, making March the stock market index’s worst month since December 2022 as concerns mount over Trump administration tariffs on imported goods. +
