Welcome to the Daily 5 report for Thursday, Dec. 11.
The end of the federal tax credit toward the purchase of a new electric vehicle has upended the U.S. light-vehicle market, which has dropped two straight months.
And we are now getting a clearer picture of the winners and mostly losers by brand based on registration data. In October, the first month since the incentive disappeared, Tesla, Cadillac, Rivian and GMC benefited from a rise in EV registrations, while Ford, Chevrolet, Hyundai and Kia were major losers. Overall, the decline in EV registrations was not as steep as feared, one analyst said, given the sharp drop in some EV sales in October. Laurence Illiff has more details here.
Automakers and suppliers, upended by U.S. tariffs and other shifting trade policy this year, are pressing the White House to preserve the United States-Mexico-Canada Agreement as President Donald Trump suggests he may abandon the deal. Trump is now in favor of separate agreements with each country. John Irwin has the story here.
China. China. China.
It's no secret China, famed for the Great Wall, has become a global force in the auto industry. China's vehicle exports hit a record in November, Yang Jian reports here, as the country's automakers move to counter slowing domestic demand.
At the same time, China and its automakers face another major wall in the form of steeper trade barriers.
U.S. automakers today warned that China remains a clear threat to America's auto industry and pressed U.S. lawmakers and the Trump administration to take further action to block Chinese automakers and battery makers, many backed by the government, from manufacturing and selling on American soil.
And Mexico, moving to align a trade posture similar to the U.S., is set to impose 50 percent tariffs on Chinese-built vehicles.
That's it for today. Have a great rest of your day. If you want to view this story on your browser, click here.
— David Phillips, news editor
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