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Tesla Motors Inc. CEO Elon Musk is pressing the Trump administration to adopt a tax on carbon emissions, raising the issue directly with President Donald Trump and U.S. business leaders at a White House meeting Monday regarding manufacturing. A senior White House official said Musk floated the idea of a carbon tax at the meeting but got little or no support among the executives at the White House, signaling that Trump’s conservative political orbit remains tepid on the issue. Ford CEO Mark Fields also attended the meeting. Musk has made social media overtures to Trump’s ...
It's obvious that the auto industry is not able sell 17 million cars and light trucks in America year after year. At some point buyer demand will become sated. Higher interest rates will force manufacturers to offer less attractive deals. Thus, sales would begin to drop from their recent peak, which will create a set of difficult challenges for car companies that operate in the United States. A forecast for January sales predicts a dip of 3% to 1.13 million, which translates into 31,000 vehicles. Some car companies will start to be part of trends that may erode their earnings. A...
Detroit automakers are pushing new investment in U.S. production of trucks, crossovers and SUVs to tap into the higher profit margins these vehicles yield. They make an awful lot of money. Automakers spend about the same amount to make a vehicle, whether it’s a crossover or truck or sedan. Yet a full-size pickup truck has an average transaction price of almost $40,000. A large SUV has a transaction price of $58,000 and even a mid-size crossover moves off the dealership at nearly $35,000. But the average transaction price of a compact sedan is less than $19,000 and a mid-size ...
We don't know if the electric car sales are poised to accelerate in sales, or will they be stuck in neutral, but the latest forecast tells us what could occur under existing policies as technologies continue to evolve. Previously we had been expecting electrics to remain a tiny share of U.S. vehicle sales for decades to come. But now we see a brighter future for electric vehicles, with annual sales topping 1.2 million cars by 2025 plus an additional 186,000 light trucks. That's nearly double its forecast from last year, and nearly 10 times its forecast from 2014. ...
Ford Motor Co. is expanding its customer service division with a new Omnicraft brand of aftermarket parts to cover non-Ford and non-Lincoln vehicles. It has been claimed that the addition will allow dealers to service between 85 and 90 percent of competitive makes, generating more business. It’s the first time the automaker’s service division has added a new brand in 50 years. Now, owners of non-Ford vehicles have access to quality parts at a competitive price, backed by Ford and installed by Ford’s world-class certified technicians. Ford will immediately roll out ...
