Welcome to the Daily 5 report for Dec. 22.
It's hard to think of a president whose policies have affected the auto industry more than Donald Trump. Maybe Dwight Eisenhower and the 1956 Federal-Aid Highway Act, which set the U.S. on the road to ever bigger and more powerful vehicles, is in the same firmament — but in very different ways.
The auto industry has struggled through a year of constantly changing trade and tariff policies. And next year looks to be the same as the Trump administration decides whether to keep the USMCA trilateral trade agreement with Canada and Mexico.
Another big story was the sunsetting of the $7,500 federal income tax credit for electric vehicles, and the dramatic decline in sales following its termination.
Despite the chaos, the auto industry did score a big win, succeeding in its lobbying efforts to relax fuel economy standards and rein in California's ability to establish regulations other states follow.
But there was plenty of news disconnected from Trump's policies. Antonio Filosa took charge of Stellantis in June with the goal of using the North American market to turn around its money-losing operations.
And consumers started to vote on powertrain choice with their wallets, turning to hybrids as a way to start the electrification journey absent dealing with the range and charging issues of an EV.
That's it for today. Have a great rest of your day.
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— Jerry Hirsch, managing editor, content
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