Good afternoon and welcome to the June 16 edition of the Daily 5.
The pressure is on Japanese Prime Minister Shigeru Ishiba to win major relief for Japan's automakers from U.S. tariffs imposed by President Donald Trump's administration in early April.
The two are expected to meet this week on the sidelines of the G7 summit in Alberta, Canada.
Japan is the biggest vehicle exporter to the U.S. outside of North America, and the 25 percent U.S. duty on all light-vehicle imports is biting Japanese automakers big and small.
The stakes are enormous for Ishiba and Japan's automakers as he prepares to meet Trump for the second time and first time after the tariffs went into effect.
Read more: Live updates on tariff news and impacts
Interactive map: Auto manufacturing sites in Canada, the U.S. and Mexico
Speaking of Japanese automakers, the head of the biggest of them all, Toyota Motor Corp., is taking on a new key role.
Hans Greimel reports on Akio Toyoda's latest renaissance and vow to revive Japan's auto industry after a very humbling 2024 atop the world's biggest automaker.
Our lists of the biggest dealership groups ranked by service and parts, and body shop, revenue are out and the rankings are dominated by some familiar names.
Suppliers were an early casualty of the slowdown in electric vehicle adoption, and now U.S. tariffs threaten parts makers, as evidenced by Marelli's bankruptcy filing last week. Now, in China, suppliers are getting squeezed by an endless price war among EV makers. The country's biggest automakers have offered some relief by pledging to pay suppliers on a more timely basis. But Bloomberg reports many suppliers are wary of the promises, fearing automakers will find a workaround.
The speed bumps keep popping up for French automaker Renault, posing another hurdle for its recovery. Just months after the CFO left, CEO Luca de Meo is departing for the high-end fashion industry.
One analyst calls his departure a shock and "unequivocally a blow to Renault."
That is it for today. Thanks for reading Automotive News.
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— David Phillips, senior editor
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