What a Honda-Nissan merger could mean for the auto industry and consumers
Automotive expert Mike Caudill appeared on “The Big Money Show” to give his thoughts on why automakers are slowing production of electric vehicles. Honda and Nissan are reportedly considering a possible merger, and while speculation is rife about what that potential move could mean, experts say rumors of a partnership are not surprising. states. News […]
NY auto body students restoring Vietnam-era Huey helicopter whose pilot died in 1968 Tet Offensive
A group of New York auto body students is restoring a piece of American history while working on a Vietnam-era helicopter whose pilot was killed in combat in 1968. The class at the Orleans BOCES Center in Medina, New York, about an hour east of Niagara Falls, worked with the local American Legion Garrison to […]
Auto industry may lose 17 percent of profits due to Trump’s tariff plan: Report
In a worst-case scenario, U.S. and European automakers could lose up to 17% of their combined annual core profits if the U.S. imposes high tariffs on Mexico and Canada, two of the U.S.'s main allies. Yes, according to a report released by S&P Global on Friday. The report comes as President-elect Trump threatens to impose […]
Auto Execs Beg Trump to Keep Biden’s EV Mandates After Spending Billions on Unprofitable Electric Cars
Executives at Ford Motor Co., General Motors Co., and Stellantis are pleading with President-elect Donald Trump to preserve President Joe Biden's electric vehicle (EV) mandate. The plea comes as automakers have invested billions of dollars in EVs but have been unable to turn a profit. In March, Biden issued federal regulations to begin phasing out […]
Trump’s cut to Biden’s EV tax credit, backed by Musk, may impact auto industry, experts say
President-elect Trump is reportedly considering rolling back the Biden administration's credibility for electric vehicles, a move that experts say will have mixed effects on the auto industry as a whole. President Biden has implemented tax credits of up to $7,500 to encourage the purchase of environmentally friendly vehicles. But sources told Reuters that President Trump […]
Advance Auto Parts to Close over 700 Stores by Mid-2025
Advance Auto Parts plans to close more than 700 locations and four distribution centers by mid-2025 due to declining sales starting in 2023, company officials announced Thursday. The North Carolina-based auto parts company, which had 4,781 companies across North America as of October 5, made the following announcements in the third quarter. report 523 corporate […]
Advance Auto Parts closing hundreds of locations following sluggish performance
See what's being clicked on FoxBusiness.com. advanced auto parts announced plans on Thursday to close more than 700 stores in the United States, aiming to improve performance amid weak consumer demand. The company announced plans to close 523 corporate stores, 204 independently owned stores and four distribution centers by mid-2025. The company also announced that […]
Advance Auto Parts shutting 500 stores, cutting jobs amid sluggish demand
Advance Auto Parts said Thursday it will close about 500 stores by mid-2025 under a restructuring plan, as demand for auto parts has been hit by fewer consumers choosing to repair their cars. announced that it would reduce its workforce. The auto parts retailer's stock rose about 2% even though it also reported a surprise […]
Trump takes the wheel: Can he put the US auto industry back in the fast lane?
What's in store for the auto industry once President Trump is in the driver's seat? Many automakers hope the country will be able to change lanes. Under the Biden administration, current regulations require stricter fuel economy and emissions standards by 2030, making this an uncertain road ahead. This year's election is expected to have more […]
Is the auto industry headed for a crash?
Factory closures in Europe. Layoffs in America. Sales are plummeting everywhere. The auto industry is suffering, and we could all suffer the consequences. The EV woes are also hitting Ford hard. The company plans to shut down operations at its F-150 Lightning EV factory later this month until the end of the year. Let's start […]