Earlier this week: China responded to U.S. tariffs with new duties and export controls. Ford reported record revenue and increased focus on core operations. General Motors expanded its electric vision through GM Energy. South Carolina blocked Scout Motors’ direct sales despite the $1.3B incentive. Tesla’s California sales declined as the EV market expanded. Honda committed over $1 billion to build EVs, hybrids, and gas cars on one line. January’s new vehicle sales revealed modest growth despite challenges.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
1. China strikes back at U.S. tariffs with new duties and export controls
President Donald Trump pulled back and paused the enforcement of 25% tariffs on Canada and Mexico at the last minute, temporarily diverting a disastrous trade war in North America. In exchange, Mexico agreed to deploy 10,000 troops to reinforce its border with the United States. Shortly after, Canada followed suit with its own border security measures after a last-minute conversation between Trump and Prime Minister Justin Trudeau. Read More
2. Ford reports record revenue and increases focus on core operations
Ford Motor closed 2024 with a record $185 billion in revenue, a 5% increase from the previous year. However, despite this financial milestone, the automaker faces continued challenges in its electric vehicle (EV) segment, leading to a cautious outlook for 2025. Following the earnings announcement, Ford’s stock dropped 5.1% as investors reacted to lower-than-expected projections. Read More
3. General Motors expands its electric vision through GM Energy
General Motors (GM) is redefining the role of electric vehicles, turning them into more than just a mode of transportation. Through GM Energy, the company is integrating public charging, home charging, and energy management to make EVs a key power source for homes and communities. Read More
4. South Carolina blocks Scout Motors’ direct sales despite $1.3B incentive
Despite South Carolina granting Scout Motors $1.3 billion in incentives to build its $2 billion EV plant in Blythewood, state residents won’t be able to buy the company’s vehicles when they hit the market in 2027. Due to state laws prohibiting direct sales, even the 4,000 workers employed at the facility will have to go out of state to purchase a Scout EV. Read More
5. Tesla’s California sales decline as EV market expands
Tesla’s sales in California fell sharply in 2024, marking its first annual decline in the state as competition intensifies. According to the California New Car Dealers Association (CNCDA), Tesla’s deliveries dropped 11.6%, with nearly 27,000 fewer vehicles sold. The company’s share of the state’s electric vehicle market declined from 60% in 2023 to 52.5%, though it remains the leading brand. Read More
6. Honda commits over $1 billion to build EVs, hybrids, and gas cars on one line
Honda is making a bold commitment to electric vehicles, by investing over $1 billion to transform its Ohio engineering and manufacturing complex into a global EV production hub. This initiative, part of a larger $16 billion North American EV investment, will allow the automaker to build EVs, hybrids, plug-in hybrids, and traditional gasoline-powered vehicles on a single flexible assembly line. Read More
7. January new vehicle sales reveal modest growth despite challenges
New vehicle sales in January continued their upward trend, marking the fourth consecutive month of year-over-year gains. While Cox Automotive‘s analysts initially forecasted a 5.2% increase compared to January 2024, early results indicate actual growth was closer to 4%. Despite severe winter weather, economic uncertainty, and seasonal slowdowns, the auto market remained resilient, largely due to the healthy new vehicle inventory levels and substantial incentives from major automakers. Read More
8. George Karolis shares highlights from The Presidio Group’s benchmark report
In today’s episode of Inside Automotive, George Karolis, president of The Presidio Group, breaks down the findings and critical takeaways from the 2024 Presidio-NCM Average Dealership Performance Benchmark report. This comprehensive report, a partnership between The Presidio Group and NCM Associates, examines profitability, inventory, and interest rate impacts. Watch the full segment here.
9. Jen Suzuki emphasizes tailored experiences and human connection will define dealership success in 2025
As dealerships look ahead to 2025, Jen Suzuki, sales trainer, president of eDealer Solutions, and host of Loyalty-Based Sales Strategies, highlights the importance of tailored customer experiences and human connection in achieving lasting success. In today’s episode of Inside Automotive, Jen outlines key strategies for enhancing sales and service departments, utilizing personalized customer care to build loyalty and drive profitability. Watch the full segment here.
10. The cost of non-compliance: How to protect dealers from legal issues – Thomas Kline | Better Vantage Point
Many dealers roll their eyes or hide at the thought of risk and compliance. However, ignoring these critical concepts could cost dealerships millions of dollars and lead to an excruciating headache if legal issues occur. In today’s episode of CBT Now, Thomas Kline, lead consultant and founder of Better Vantage Point, will discuss key takeaways from his latest book, Tuck The Octopus: A Better Vantage Point For Dealership Risk and Compliance, and what dealers need to know to protect themselves and their business. Watch the full segment here.
