GM weighs production shifts, sourcing reviews to mitigate tariffs
General Motors has options to mitigate the impact of new tariffs on Canada and Mexico on its bottom line, executives said during the company’s Q4 earnings call on Jan. 28. One move would be to shift some truck production out of Canada and Mexico to the U.S., CEO Mary Barra said on the call. “We also sell trucks globally, and so we can look at where the international markets are being sourced from,” she said. “So, there’s plays that we can do on that perspective to minimize the impact if there are tariffs either on Canada or Mexico.”
Ford recalls 295K Super Duty trucks for fuel pump failures
Ford Motor Co. has recalled over 295,000 Super Duty F-series trucks for a condition where biodiesel deposits may form on the roller components of the high-pressure fuel pump and lead to pump failure, according to the National Highway Traffic Safety Administration. The recalled models include certain 2020-2022 F-Super Duty F250, F350, F450, F550, F600, and 2021-2022 F-650, F750 vehicles equipped with 6.7 liter diesel engines. Drivers may also experience extended engine cranking, noise or reduced power.
Honda prepares to start ‘flexible’ vehicle production at Ohio EV hub
A fully electric Acura RSX SUV will be the first model produced at American Honda Motor Co.’s retooled flexible vehicle manufacturing assembly lines in Ohio later this year, the automaker announced on Feb. 3. Honda is investing over $1 billion in three Ohio plants to serve as its U.S. “EV hub,” which will also continue producing internal combustion engine vehicles and fully electric models for the North America market. The move gives the automaker flexibility to adapt to changing market conditions, the company said.
Trump's China tariff increase affects Ford and GM vehicles, billions of dollars in auto parts
DETROIT — President Donald Trump’s move to impose 10% additional tariffs on imports from China this week affects a small number of U.S. vehicles. But those tariffs are also hitting auto parts, which could increase already heightened vehicle prices for consumers. The U.S. in recent years has imported roughly $15.4 billion to more than $17.5 billion worth of transportation goods from China, including $9 billion to $10 billion in auto parts and accessories for vehicles and tractors, among other special purpose vehicles, according to the U.S. International Trade Commission.
Lucid names CFO
Taoufiq Boussaid will take over as CFO of Lucid Group, effective Feb. 25, the company announced on Jan. 28. He replaces Gagan Dhingra who has been the EV maker’s interim CFO since December 2023, following the departure of Sherry House. The company is promoting Dhingra to SVP of finance and accounting and he will continue to serve as chief accounting officer, reporting to Boussaid.
Lucid Gravity gains Tesla Supercharger access with native NACS port
Luxury electric vehicle maker Lucid Group announced new technical details of its Gravity SUV, including its powertrain and charging technology that allows for rapid battery replenishment, the company announced in a press release Jan 28. Lucid developed and patented technology that uses electronics in the vehicle’s rear drive unit to boost charging current to match the vehicle’s 926-volt battery pack. It allows the Gravity to charge at a rate of 400 kilowatts on 1,000-volt DC fast chargers and up to 225 kW on a 500-volt charger.
Honda's new EV production revolution begins with $1 billion investment in Ohio
Honda Motor is launching the next generation of its manufacturing in a historically unusual place for the 75-year-old Japanese automaker: Ohio. Honda is in the midst of completing more than $1 billion in new investments — upped Wednesday from an initially announced $700 million — in the state this year. Upgrades most notably include installing six “giga presses,” which were made well-known by Tesla, and a new “cell” manufacturing system for its upcoming electric vehicle battery cases.
Tesla’s Q4 automotive revenue declines 8% YoY
Tesla reported an 8% year-over-year decline in Q4 revenue for its core automotive business, the company said Wednesday. For the full year, Tesla’s automotive revenue fell by 6% YoY to $77 billion in Q4. The company cited a reduced average selling price for its vehicles, increased investments in vehicle manufacturing capabilities, AI and other R&D projects as reasons for the revenue decline. Tesla’s automotive revenue drop was offset by significant jumps in the company’s energy generation and storage business. Overall, Tesla saw revenues increase by 2% YoY.
Nissan offers buyouts as US production scales back
Nissan Motor Co. is offering voluntary buyouts to workers at its manufacturing plants in Smyrna, Tennessee and Canton, Mississippi, to scale back production and cut costs amid cooling global sales, company spokesman Brian Brockman told Automotive Dive. The automaker, which is in merger talks with Honda Motor Co., does not plan to shutter the two plants, which combined employ 10,000 workers, Brockman said in an email to Automotive Dive. Instead, Nissan intends to cut one shift from each site and has long-term plans to continue building vehicles at both locations.
Sales growth in the forecast for EVs, hybrids
More U.S. consumers are choosing battery electric vehicles and it appears policy changes may simply slow the transition but not discourage purchases, experts say. In the final three months of 2024, 365,824 electric vehicles were sold in the U.S., a best-ever quarterly sales mark, according to Cox Automotive’s Kelley Blue Book. For the year, 1.3 million EVs were purchased, a 7.3% year-over-year increase.