Latest news with #Tahoes
Yahoo
20-05-2025
- Automotive
- Yahoo
The auto industry is scaling back
The auto industry slowdown continues. Honda (HMC) on Tuesday scaled back its electric vehicle targets, citing diminishing U.S. demand. The Japanese automaker had initially planned to invest $69 billion in an electrification strategy by the end of 2031 but has reduced the figure to $48 billion. 'The environment surrounding the automobile industry is changing day by day. Uncertainty in the business environment is increasing, due particularly to the slowdown in the expansion of the EV market due to several factors, including changes in environmental regulations,' Honda said in a statement. The decision is 'a switch in the planned course,' said Honda Motor Co. Chief Executive Toshihiro Mibe. Although the company remains committed to its long-term electrification, the roadmap faces delays, he added. And General Motors (GM) on Monday halted exports of Chevrolet Tahoe sport utility vehicles to China, and announced it will forgo plans to export other high-end models there. G.M. began shipping the America-made Tahoes to China last year, a spokesman said, under a scheme called the Durant Guild, named after G.M founder, Billy Durant. 'Due to significant changes to economic conditions, we have decided to restructure the Durant Guild and correspondingly optimize G.M. China's operations,' the automaker said in a statement. Yet, it's worth noting, Durant exports account for less than 0.1 percent of the 443,000 vehicles that G.M. manufactures and sells in China. There are several obstacles weighing on the domestic auto industry. Trump introduced a 25% tariff on cars and parts imported into the U.S. in March. Shortly after, the S&P Global (SPGI) downgraded its 2025 forecast for U.S. vehicle sales by 700,000. This is on top tit-for-tax tariffs: a 30% levy remains on Chinese goods, and U.S. imports into China face a 10% tax. The GOP also has launched an assault on EVs. House Republicans have proposed ending Inflation Reduction Act tax credits for buyers, and the Trump administration is rolling back auto emissions standards. New data suggests that EV demand could be slowing as a result. Installation of high-speed chargers fell by more than 21% in the first quarter compared to the year-earlier period, according to a Bloomberg analysis of Energy Department data. BloombergNEF has reduced its cumulative estimate for U.S. charging installations by 20% this year, down to 285,000. BloombergNEF analyst Ash Wang foresees annual U.S. charger installations by 2030 even dropping by 30% or more, 'if [we] continue in this direction,' she told Bloomberg. Souring consumer sentiment toward Tesla (TSLA) CEO Elon Musk may also be hampering sales. An Axios Harris Poll 100 on Tuesday revealed a 30% drop in Tesla's reputation over the last decade, plummeting from 'Excellent' to 'Poor.' Shares in Tesla fell by more than 50% between December and April, although they have rebounded in recent weeks as Musk reassured investors he would be taking a step back from overseeing the Department of Government Efficiency, or DOGE. Signs of a strained U.S. auto market come as CATL, the world's biggest EV maker, made its market debut on Tuesday, launching its initial public offering in Hong Kong— the world's largest this year. Despite U.S. investors being locked out from the listing, shares in CATL surged 16% on the first day of trading. For the latest news, Facebook, Twitter and Instagram. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hill
29-04-2025
- Automotive
- The Hill
GM recalls nearly 600,000 Cadillac, Chevrolet and GMC cars due to engine failure risks
NEW YORK (AP) — General Motors is recalling nearly 600,000 vehicles across its Cadillac, Chevrolet and GMC brands in the U.S. due to potential manufacturing defects that can cause engine failure. The recall covers certain Cadillac Escalades and Escalade ESVs; Chevrolet Silverado 1500s, Suburbans and Tahoes; as well as GMC Sierra 1500s, Yukons and Yukon XLs between model years 2021 and 2024. According to recall documents published by the National Highway Traffic Safety Administration, these vehicles share a gas engine that may have connecting rod or crankshaft component problems, due to supplier manufacturing or quality issues. This can lead to engine damage, and potentially failure, while driving — increasing crash risks. Prior to failure, NHSTA documents warn, impacted drivers may be alerted of these issues through loud knocking or banging noises, the check engine light turning on and/or other driving performance issues, such as reduced propulsion. As a remedy, dealers will inspect affected vehicles — and repair or replace the engine if necessary with newer components, free of charge. Dealers notifications began last week, with owner letters set to be mailed out June 9. In all, about 597,630 vehicles are covered by the recall, per a notice dated April 24. But the company estimates that just 3% have the defect. When asked why owner notification wouldn't start until June 9, GM maintained that it was 'common to require time' to both confirm mailing lists for registered owners and ensure that dealers are prepared. The Detroit-based auto company added that it was continuing to increase engine production, but felt confident about having 'sufficient supply to service this recall campaign' — noting that it only expects a small percentage to need replacements. Drivers can also confirm if their specific vehicle is included in this recall, and find more information, using the NHTSA site and/or GM's recall lookup. 'The safety and satisfaction of our customers are the highest priorities for the entire GM team, and we're working to address this matter as quickly as possible,' GM said in a statement sent to The Associated Press. An investigation by GM has found 28,102 complaints or incidents across the U.S. related to engine failure of these vehicles between April 2021 and February 2025, including 14,332 reports that alleged loss of propulsion, NHTSA documents note. The probe also identified alleged reports of 12 crashes and 12 injuries, as well as 42 fires — but noted that causes were not always clear and that 'all specifically alleged injuries,' for example, were 'minor or non-physical, and most were not crash related.'
Yahoo
29-04-2025
- Automotive
- Yahoo
GM recalls nearly 600,000 Cadillac, Chevrolet and GMC cars due to engine failure risks
NEW YORK (AP) — General Motors is recalling nearly 600,000 vehicles across its Cadillac, Chevrolet and GMC brands in the U.S. due to potential manufacturing defects that can cause engine failure. The recall covers certain Cadillac Escalades and Escalade ESVs; Chevrolet Silverado 1500s, Suburbans and Tahoes; as well as GMC Sierra 1500s, Yukons and Yukon XLs between model years 2021 and 2024. According to recall documents published by the National Highway Traffic Safety Administration, these vehicles share a gas engine that may have connecting rod or crankshaft component problems, due to supplier manufacturing or quality issues. This can lead to engine damage, and potentially failure, while driving — increasing crash risks. Prior to failure, NHSTA documents warn, impacted drivers may be alerted of these issues through loud knocking or banging noises, the check engine light turning on and/or other driving performance issues, such as reduced propulsion. As a remedy, dealers will inspect affected vehicles — and repair or replace the engine if necessary with newer components, free of charge. Dealers notifications began last week, with owner letters set to be mailed out June 9. In all, about 597,630 vehicles are covered by the recall, per a notice dated April 24. But the company estimates that just 3% have the defect. When asked why owner notification wouldn't start until June 9, GM maintained that it was 'common to require time' to both confirm mailing lists for registered owners and ensure that dealers are prepared. The Detroit-based auto company added that it was continuing to increase engine production, but felt confident about having 'sufficient supply to service this recall campaign" — noting that it only expects a small percentage to need replacements. Drivers can also confirm if their specific vehicle is included in this recall, and find more information, using the NHTSA site and/or GM's recall lookup. 'The safety and satisfaction of our customers are the highest priorities for the entire GM team, and we're working to address this matter as quickly as possible,' GM said in a statement sent to The Associated Press. An investigation by GM has found 28,102 complaints or incidents across the U.S. related to engine failure of these vehicles between April 2021 and February 2025, including 14,332 reports that alleged loss of propulsion, NHTSA documents note. The probe also identified alleged reports of 12 crashes and 12 injuries, as well as 42 fires — but noted that causes were not always clear and that 'all specifically alleged injuries," for example, were "minor or non-physical, and most were not crash related.'
29-04-2025
- Automotive
GM recalls nearly 600,000 Cadillac, Chevrolet and GMC cars
NEW YORK -- General Motors is recalling nearly 600,000 vehicles across its Cadillac, Chevrolet and GMC brands in the U.S. due to potential manufacturing defects that can cause engine failure. The recall covers certain Cadillac Escalades and Escalade ESVs; Chevrolet Silverado 1500s, Suburbans and Tahoes; as well as GMC Sierra 1500s, Yukons and Yukon XLs between model years 2021 and 2024. According to recall documents published by the National Highway Traffic Safety Administration, these vehicles share a gas engine that may have connecting rod or crankshaft component problems, due to supplier manufacturing or quality issues. This can lead to engine damage, and potentially failure, while driving — increasing crash risks. Prior to failure, NHSTA documents warn, impacted drivers may be alerted of these issues through loud knocking or banging noises, the check engine light turning on and/or other driving performance issues, such as reduced propulsion. As a remedy, dealers will inspect affected vehicles — and repair or replace the engine if necessary with newer components, free of charge. Dealers notifications began last week, with owner letters set to be mailed out June 9. In all, about 597,630 vehicles are covered by the recall, per a notice dated April 24. But the company estimates that just 3% have the defect. When asked why owner notification wouldn't start until June 9, GM maintained that it was 'common to require time' to both confirm mailing lists for registered owners and ensure that dealers are prepared. The Detroit-based auto company added that it was continuing to increase engine production, but felt confident about having 'sufficient supply to service this recall campaign" — noting that it only expects a small percentage to need replacements. Drivers can also confirm if their specific vehicle is included in this recall, and find more information, using the NHTSA site and/or GM's recall lookup. 'The safety and satisfaction of our customers are the highest priorities for the entire GM team, and we're working to address this matter as quickly as possible,' GM said in a statement sent to The Associated Press. An investigation by GM has found 28,102 complaints or incidents across the U.S. related to engine failure of these vehicles between April 2021 and February 2025, including 14,332 reports that alleged loss of propulsion, NHTSA documents note. The probe also identified alleged reports of 12 crashes and 12 injuries, as well as 42 fires — but noted that causes were not always clear and that 'all specifically alleged injuries," for example, were "minor or non-physical, and most were not crash related.'
Yahoo
29-04-2025
- Automotive
- Yahoo
GM recalls nearly 600,000 Cadillac, Chevrolet and GMC cars due to engine failure risks
NEW YORK (AP) — General Motors is recalling nearly 600,000 vehicles across its Cadillac, Chevrolet and GMC brands in the U.S. due to potential manufacturing defects that can cause engine failure. The recall covers certain Cadillac Escalades and Escalade ESVs; Chevrolet Silverado 1500s, Suburbans and Tahoes; as well as GMC Sierra 1500s, Yukons and Yukon XLs between model years 2021 and 2024. According to recall documents published by the National Highway Traffic Safety Administration, these vehicles share a gas engine that may have connecting rod or crankshaft component problems, due to supplier manufacturing or quality issues. This can lead to engine damage, and potentially failure, while driving — increasing crash risks. Prior to failure, NHSTA documents warn, impacted drivers may be alerted of these issues through loud knocking or banging noises, the check engine light turning on and/or other driving performance issues, such as reduced propulsion. As a remedy, dealers will inspect affected vehicles — and repair or replace the engine if necessary with newer components, free of charge. Dealers notifications began last week, with owner letters set to be mailed out June 9. In all, about 597,630 vehicles are covered by the recall, per a notice dated April 24. But the company estimates that just 3% have the defect. When asked why owner notification wouldn't start until June 9, GM maintained that it was 'common to require time' to both confirm mailing lists for registered owners and ensure that dealers are prepared. The Detroit-based auto company added that it was continuing to increase engine production, but felt confident about having 'sufficient supply to service this recall campaign" — noting that it only expects a small percentage to need replacements. Drivers can also confirm if their specific vehicle is included in this recall, and find more information, using the NHTSA site and/or GM's recall lookup. 'The safety and satisfaction of our customers are the highest priorities for the entire GM team, and we're working to address this matter as quickly as possible,' GM said in a statement sent to The Associated Press. An investigation by GM has found 28,102 complaints or incidents across the U.S. related to engine failure of these vehicles between April 2021 and February 2025, including 14,332 reports that alleged loss of propulsion, NHTSA documents note. The probe also identified alleged reports of 12 crashes and 12 injuries, as well as 42 fires — but noted that causes were not always clear and that 'all specifically alleged injuries," for example, were "minor or non-physical, and most were not crash related.'
