The Federal Reserve Board has reduced its target lending rate by one-quarter of a point for the second time this year, with a third cut planned for December, Chairman Jerome Powell announced. +
GM tells Bloomberg the factory will replace the expired $7,500 federal EV tax credit with $6,000 in “lease support” cash following unrelated reports of a similar move at Stellantis. +
Automotive News reports Ford and General Motors have been working with dealers to secure an unknown number of $7,500 federal tax credits for EV shoppers before they expire. +
Alliance for Automotive Innovation’s John Bozzella says the One Big Beautiful Bill Act’s unexpectedly rapid phaseout of the federal EV tax credit will slow adoption and hurt consumers. +
The 2025 U.S. Electric Vehicle Experience Ownership Study finds battery electric vehicle buyers are increasingly satisfied with their purchases and 94% say they would buy another one. +
President Trump ordered an end to the federal “EV mandate,” targeting sales goals, funds for charging infrastructure and state-level emissions standards. EV tax credits could be next. +
The U.S. Commerce Department will finalize a ban on the sale of Chinese cars and trucks before President Joe Biden leaves office, leaving the incoming administration to decide which factories and vehicles to exempt. +
The U.S. Supreme Court declined to weigh in on an appeal brought by conservative states, teeing up a likely reversal to EPA policy in the early days of the second Trump administration. +
Reuters reports members of the Trump transition team will recommend a reversal of Biden administration policies designed to encourage EV production and sales. +
Andrew Ferguson has been tapped to promote from commissioner to chair of the Federal Trade Commission by President-elect Donald Trump. +
