Automotive News reports Ford and General Motors have been working with dealers to secure an unknown number of $7,500 federal tax credits for EV shoppers before they expire. +
California Gov. Gavin Newsom now says there will be no state-funded replacement for the expiring $7,500 federal tax credit for EV buyers, reneging on a promise he made in November. +
Under pressure from the White House and troubling inflation reports, the Federal Reserve Board voted to reduce its target lending rate by a quarter-point to 4% to 4.25%. +
Tesla CEO Elon Musk’s role in the 2024 election and second Trump administration coincides with a brand loyalty rate that plummeted from 73% to 49.9% in less than a year. +
New agreements set the levy on vehicles imported from South Korea at 15% and extend an Aug. 1 deadline that would have subjected Mexico-built units to a 30% tariff. +
The governors of the Federal Reserve have decided to maintain a target lending rate of 4.25% to 4.5% for a fifth consecutive meeting under mounting White House pressure. +
Trump administration officials announced the terms of an agreement that would reduce tariffs on vehicles and parts imported from European Union nations to 15%. +
Tariffs on vehicles imported from Japan are now set at 15% as a part of an agreement that AAPC chief Matt Blunt calls a “bad deal” for U.S. factories that build vehicles in Canada and Mexico. +
The Trump administration has reined in federal enforcement actions, but attorney Jim Ganther says the case against a former dealership employee proves now is no time to fall asleep at the compliance switch.
Alliance for Automotive Innovation’s John Bozzella says the One Big Beautiful Bill Act’s unexpectedly rapid phaseout of the federal EV tax credit will slow adoption and hurt consumers. +
