Latest news with #NewYorkInternationalAutoShow
Toronto Star
5 days ago
- Automotive
- Toronto Star
Automakers are going big on in-car subscriptions. Are customers buying it?
Automakers are pivoting to novel software releases for monthly, yearly or multi-year-long in-car subscriptions. A Ford Mustang Mach-E electric vehicle with Ford BlueCruise Hands-Free Highway Driving is at the New York International Auto Show in New York on Saturday, March 30, 2024. (AP Photo/Ted Shaffrey) TS flag wire: true flag sponsored: false article_type: : sWebsitePrimaryPublication : publications/toronto_star bHasMigratedAvatar : false :
CNBC
22-07-2025
- Automotive
- CNBC
GM says EVs are its 'North Star' as legacy automaker chases Tesla
The Chevrolet display is seen at the New York International Auto Show on April 16, 2025. While Tesla remains the No. 1 electric vehicle manufacturer in the U.S. by a wide margin, General Motors said on Tuesday it has secured the No. 2 position and believes it has an "inherent advantage" when it comes to EVs. Executives on GM's quarterly earnings call on Tuesday said the company is focused on reaching and improving profitability for its EVs. When asked on the call about how GM aims to do that when Tesla is facing the same uphill climb, GM CFO Paul Jacobson said the company's advantage lies in the diversity of its lineup across gas and electric vehicles, as EV demand fluctuates. "A lot is made about Tesla's simplicity and their scale," Jacobson said. "And clearly, within a couple of narrow segments, they do have that, and they've realized some good advantages. And hats off to them. It also leaves them overexposed to a demand set that has been highly volatile." GM currently has 12 EVs in its lineup, while Tesla has five models. Tesla does not break out sales by model, but lumps them together in groups. Jacobson's comments come as automakers are faced with changing demand for EVs, heightened by President Donald Trump's new tax-and-spending bill, which is set to end the $7,500 tax credit for new electric vehicles and $4,000 credit for used EVs after Sept. 30. Sales of new EVs in the second quarter of 2025 were down 6.3% year over year, which marks only the third decline on record, according to the auto industry forecaster Cox Automotive. Those sales amounted to a 4.9% uptick from the first quarter of 2025, according to Cox Automotive, which Cox Senior Analyst Stephanie Valdez said may represent the start of a rush to buy EVs before the tax credit ends. Valdez predicted there will be record new EV sales in the third quarter of 2025, followed by a collapse in the fourth quarter as the EV market adjusts to its "new reality" without EV tax credits. GM CEO Mary Barra acknowledged that EV growth has been slower than expected, but said on the earnings call Tuesday that "we believe the long-term future is profitable electric vehicle production, and this continues to be our North Star." Amid this fluctuating demand, a July 17 Barclays note said Tesla's demand and fundamentals remain weak, while its autonomous vehicle and robotaxi narratives have been front and center. In the second quarter, Tesla reported around 384,000 vehicle deliveries, a 14% year-over-year decline and its second straight quarterly decrease. Deliveries are the closest approximation of vehicle sales reported by Tesla but are not precisely defined in the company's shareholder communications. But Tesla is still the vast EV leader by far. GM's electric vehicle sales totaled 46,300 for the quarter, more than double the 21,900 a year ago. That's a relatively small portion of the Detroit automaker's total vehicle sales in the second quarter of 974,000. Cox Automotive noted that GM's 78,000 EVs in the first half of 2025 amount to more than twice the volume posted in 2024. Jacobson said on Tuesday's call that GM is prepared for changing EV demand because it has built flexibility into its manufacturing plants by investing in both EVs and internal combustion engine cars. "That built-in flexibility for us to switch between EV and ICE and make sure that we meet customers where they are is an inherent advantage that we have because we can absorb some of the costs of that manufacturing facility with more ICE production if EV demand goes down," Jacobson said. He highlighted GM's new investments in its Spring Hill plant in Tennessee and Fairfax plant in Kansas as an example of this diversification. GM announced last month that it was investing $4 billion in several American plants and is set to increase U.S. production of both gas and electric vehicles. GM said on Tuesday that Chevrolet holds the No. 2 spot and Cadillac sits at No. 5 in EV brand rankings. — CNBC's Lora Kolodny contributed to this report.
UPI
11-07-2025
- Automotive
- UPI
Ford recalls 850,000 vehicles over faulty fuel pumps
The Ford Motor Company pavilion at the New York International Auto Show in April. The company recalled 850,000 vehicles Thursday over faulty fuel pumps. File photo by Peter Foley/UPI | License Photo July 11 (UPI) -- Ford Motor Co. has recalled 850,000 trucks, SUVs and cars, including the popular F-150 pickup and the S550 Mustang, due to issues with the vehicles' fuel pumps, the company announced. The recall covers models produced between 2021 and 2023 and includes truck models all the way up to the F-550 and various sport utility vehicles, such as the Bronco, Explorer, Lincoln Aviator, Expedition and Navigator produced for the U.S. market. The vehicles covered in the recall all have Phinia-supplied fuel pumps that could fail unexpectedly, which can cause the vehicle to stall while in operation and increase the risk for a crash, the company said. Ford began investigating the fuel pump issue in the fall of 2022 after an unusual number of warranty claims and customer complaints. The investigation determined that the fuel pump openings were becoming clogged and not providing enough fuel to the engine. The fuel pumps in question were installed in vehicles between July 2021 and December 2022. The company has said it is working on a replacement part, adding that owners and lessees would be notified of the recall by July 18. Ford has said it is not aware of any accidents or injuries associated with the faulty fuel pumps.
The Star
30-06-2025
- Automotive
- The Star
Trump says car trade with 'Mr Japan' is unfair as deadline looms
FILE PHOTO: A Toyota Tacoma is seen during the New York International Auto Show, in Manhattan, New York City, US, April 5, 2023. - Reuters WASHINGTON DC: US President Donald Trump characterised trade in cars between the US and Japan as unfair on Sunday (June 29), little more than a week before higher tariffs are set to kick in if a deal isn't reached between the two nations. "So we give Japan no cars. They won't take our cars, right? And yet we take millions and millions of their cars into the United States. It's not fair,' Trump said during a Fox News interview that aired Sunday. "And I explained that to Japan. And they understand it. And we have a big deficit with Japan. And they understand that too,' he said in remarks. "Now, we have oil. They could take a lot of oil. They could take a lot of other things,' he added. Japan's top negotiator Ryosei Akazawa visited Washington DC last week for the seventh round of trade negotiations that have been ongoing for months, even extending his stay in hopes of hashing out a deal as the July 9 deadline for higher so-called reciprocal tariffs looms. In a statement released by the Japanese government Sunday, Akazawa and his counterpart, US Commerce Secretary Howard Lutnick had a "fruitful discussion' and agreed to continue seeking a deal that is beneficial for both the US and Japan. It was unclear from Trump's statements in the interview whether Japan was close to reaching a deal or winning an extended reprieve from a jump in the across-the-board tariffs. Trump said the US can set its trade terms with Japan unilaterally. "I'm going to send letters,' Trump said on Sunday, referring to a plan to inform some trading partners that the US will unilaterally set tariffs. "I could send one to Japan. 'Dear Mr. Japan, here's the story. You're going to pay a 25 per cent tariff on your cars.'' - Bloomberg
Asahi Shimbun
18-06-2025
- Automotive
- Asahi Shimbun
Honda conducts surprise reusable rocket test, aims spaceflight by 2029
A Honda logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. (REUTERS) Honda succeeded in a launch and landing test of its prototype reusable rocket on Tuesday, the Japanese company said in a surprise announcement, marking a milestone towards its 2029 goal of achieving a suborbital spaceflight. Honda R&D, the research arm of Japan's second-biggest carmaker, successfully landed its 6.3-metre (20.6-foot) experimental reusable launch vehicle after reaching an altitude of 271 meters (889 feet) at its test facility in northern Japan's space town Taiki, according to the company. While 'no decisions have been made regarding commercialization of these rocket technologies, Honda will continue making progress in the fundamental research with a technology development goal of realizing technological capability to enable a suborbital launch by 2029,' it said in a statement. Honda in 2021 said it was studying space technologies such as reusable rockets, but it has not previously announced the details of the launch test. A suborbital launch may touch the verge of outer space but does not enter orbit. Studying launch vehicles 'has the potential to contribute more to people's daily lives by launching satellites with its own rockets, that could lead to various services that are also compatible with other Honda business,' the company added. Reusable launch vehicles have been the driver of emerging commercial space missions over the past decade, led by SpaceX's Falcon 9, while its U.S. rivals including Blue Origin and companies in China and Europe also have reusable rocket plans. Tokyo-based startup Innovative Space Carrier last month said it will test-launch a prototype reusable rocket in the United States in December using an American engine. Honda's rival Toyota, the world's biggest automaker by sales, earlier this year announced an investment by its research arm in Taiki-based rocket maker Interstellar Technologies to support mass production of launch vehicles. Japan's government has established a multibillion-dollar space venture fund to subsidize private rockets, satellites and other missions, targeting to double its space industry's size to 8 trillion yen ($55.20 billion) by the early 2030s.
