Canada has approved the import of 49,000 Chinese-made electric vehicles (EVs) annually at a reduced tariff rate of 6.1%, significantly lower than the 100% tariff on other Chinese vehicles. This move allows Canadian auto dealers to sell Chinese EVs, with strong dealer interest and potential for Chinese brands like BYD, Geely, and Chery to enter the market. While some industry groups and U.S. officials express concern, Canadian consumers show curiosity and optimism about more affordable EV options. The limited quota aims to balance market access with protection for domestic and established foreign automakers.
GM, Ford, and Stellantis have cut over 20,000 U.S. salaried jobs since 2020, driven by technological changes including AI, autonomous, and electric vehicles. GM led with about 11,000 cuts, recently laying off 500-600 IT workers to adapt to AI integra...
Ford's stock surged 8% to around $14.60 following strong Q1 earnings with EPS of $0.66 and raised full-year EBIT guidance to $8.5-$10.5 billion. The rally marks a sharp turnaround as Ford leads year-to-date gains in the auto sector, outperforming pee...
Ford Motor Company's stock rose about 7% to $12.82, marking its biggest single-day gain in weeks, driven by strong Q1 2026 earnings and an upward revision of full-year adjusted EBIT guidance. The company reported Q1 EPS of $0.66 and revenue of $43.25...
California Attorney General Rob Bonta announced that General Motors will pay a $12.5 million penalty for illegally selling personal and driving data of hundreds of thousands of California drivers to third-party data brokers from 2020 to 2024. GM coll...
General Motors laid off 500 to 600 employees, mainly in IT roles in Austin and Warren, as part of a workforce reevaluation and cost-cutting effort amid uncertain market conditions. Artificial intelligence influenced the decision, but was not the sole...
