Can Nissan survive? Automaker slashes US production as bankruptcy looms



The car industry as a whole may be ailing — but Nissan's prognosis is particularly dire, the kind you measure in months, not years.

Sluggish sales — mainly in North America — have been disastrous for the Japanese automaker. In response, dealers are selling cars at a loss and production has been slashed by 20%. More recently, the company cut 9,000 jobs and sold a third of its stake in Mitsubishi.

The Japanese automaker also plans to cut production at its plants in Canton, Mississippi, and Smyrna, Tennessee — which together employ some 13,000 workers — by 100,000 cars.

But all of this may be too little, too late.

Death's door

On paper, at least, it doesn't look good. Nissan's operating profit dropped 85% in the third quarter, with the company recording a net loss of 9.3 billion Yen ($60.1 million at today's exchange rate). On November 7, the company posted a consolidated operating profit for the six months ending in September down over 90% compared with the same period last year.

"We have 12 to 14 months to survive," a senior official close to Nissan recently told the Financial Times. "This is going to be tough. And in the end, we need Japan and the U.S. to be generating cash," he said.

Unfortunately, consumers in those countries are simply not buying. And increased competition from China isn't helping.

Stateside slowdown

Nissan's cost-cutting is part of a large-scale restructuring effort to save $3 billion.

Adding to the uncertainty, major shareholder Renault is looking to offload its holdings in the company. Nissan is reportedly seeking a new long-term investor — and hasn't ruled out longtime rival Honda taking a majority stake. Nissan recently signed a partnership with Honda and Mitsubishi for long-term EV development.

The Japanese automaker also plans to cut production at its plants in Canton, Mississippi, and Smyrna, Tennessee — which together employ some 13,000 workers — by 100,000 cars. Among the models made at those factories are Nissan's Pathfinder SUV and the Frontier pickup truck.

Lost credibility

From my perspective, Nissan's mob-like tactics in ousting former CEO Carlos Ghosn cost the company credibility on the global stage. Ghosn, who spent 13 months in a Japanese jail before making a dramatic escape to Lebanon, claims he was targeted for his plans to merge Nissan with Renault.

Ultimately, a merger with Honda may be the better move; Japanese companies working together to build better cars would make stockholders and customers happy. More important, it may be the only move left for a company rapidly running out of options.

Looking to save big on a car? Dealerships have never been more desperate to sell​



Unsold inventory has car dealers feeling the pinch — which means there's never been a better time to buy.

Before 2020, it was unusual for a new car to sit on a lot for more than 200 days. Now we're seeing cars not move for 500, 600, and even 700 days — thanks to a combination of car supplies returning to pre-COVID levels and rising prices.

As a dealer trainer for different brands and dealership groups, I've seen the problems excess inventory causes up close — and it's not pretty.

Quite a change from just a few years ago, when many dealerships took advantage of the chip shortage (and the ensuing vehicle scarcity) to charge as much as $15,000 over sticker price.

The tables have turned — and no automaker is exempt. Ford, Honda, Kia, Chevrolet, even Ferrari: You name the brand, and you'll find dealerships stuck with vehicles from 2022, 2023, and even 2024.

With 2025 models arriving, this is a problem.

As a dealer trainer for different brands and dealership groups, I've seen the problems excess inventory causes up close — and it's not pretty.

Car dealers purchase vehicles on a floor plan, essentially a revolving line of credit. This can be interest-free for the first 60 to 90 days. Ideally, you sell within that period. If you don't, rates get pretty high, and it all adds up quickly when you're talking about inventory totaling hundreds of thousands or millions of dollars.

Dealers are highly motivated to get these mobile money pits off of their books. They'll offer incentives (or "spiffs") to the sales team to get them sold. And salespeople will offer potential buyers spiffs of $500 to $1,000.

If that doesn't work, the dealership will often simply pay off the car to relieve the debt. Many times the dealer principals will drive an unsold car for a few years, then sell it at auction for a fraction of the price or even donate it to charity.

Sometimes taking a loss is the smartest business decision — every so often. But 10 or 20 losses are a different story.

Alternatively, the dealership could also use such a car as a demo vehicle or as a loaner car for the service department. Although with this option, rising insurance costs are still a burden.

So what does all this mean for you? In short: big savings.

Remember: Dealers are highly motivated to sell their inventory. Alway ask for the deal — loyalty or conquest discounts could mean between $500 to $2,500, depending on the cost of the vehicle. You can pay less than MSRP on even the most in-demand models, so look around. And don't be afraid to drive out of state to buy — it could mean saving thousands of dollars.

And if you're not picky, look for cars in unpopular colors or trims or older model years. Or consider picking up a demo car or a service loaner.

It's a buyers' market, so negotiate with confidence. And that includes dealer fees — they're not set in stone either.

Toyota, Jeep, and the big emissions scam



Impossible!

That's what Toyota North America COO Jack Hollis calls the demand by California and 16 other states that 35% of 2026 model year vehicles be zero-emission or electric.

California also added a tax of 68 cents per gallon that is going into effect at the first of the year. The state is making gas and hybrid vehicles unaffordable.

Said Hollis, “I have not seen a forecast by anyone … government or private, anywhere, that has told us that that number is achievable. At this point, it looks impossible.”

He continued, “Demand isn’t there. It’s going to limit a customer’s choice of the vehicles they want.”

Welcome to the party. This is what we've been saying for years.

Automaker Stellantis — which owns Jeep — no doubt agrees. Stellantis made gasoline-powered non-hybrid Jeeps available only as a special-order vehicle in California and other states that have adopted California Air Resources Board Standards.

This has hurt Stellantis, which last week announced it would lay off 1,100 UAW-represented employees at the automaker’s Toledo South Assembly Plant in Ohio. This is where the company built the Jeep Gladiator.

Under California’s Advanced Clean Cars mandate, automakers must either sell enough cars or buy enough credits for the equivalent of 35% of their vehicles sold in California to qualify as zero-emission vehicles.

What's more, only 20% of these can be plug-in hybrids; the other 15% must be all-electric.

Automakers will pay a $20,000 fine per ZEV credit they are short, meaning carmakers will have to either buy credits from other automakers with excess credits or sell fewer non-ZE vehicles. Which means cars will get more expensive.

The Advanced Clean Cars mandate applies to Massachusetts, New York, Oregon, Vermont, and Washington for model year 2026 and Colorado, Delaware, Maryland, New Jersey, New Mexico, Rhode Island, and Washington, D.C., for model year 2027.

As we often point out, no carmaker will make cars for one state, so expect prices to rise in all 50.

And why isn't demand there? One strike against EVs in California is the high cost of electricity.

Energy prices in California are so high that the California Air Resources Board says the state is near the point at which it’s cheaper to propel a car on gasoline than it is on electricity. Last week, the CARB voted to create a $105 billion credit for EV charger operators, to be paid for with rising carbon emissions fees on the petroleum refineries that produce gasoline and diesel. The CARB estimates the measure will create a 47 cent-per-gallon pass-through cost for gasoline in 2025.

California also added a tax of 68 cents per gallon that is going into effect at the first of the year. The state is making gas and hybrid vehicles unaffordable.

The state believes that by raising the price of gasoline and subsidizing electric vehicle charging, the CARB’s new Low Carbon Fuel Standard can incentivize more Californians to get out of gasoline-powered cars and either acquire electric vehicles or take public transportation.

What it will accomplish in reality is to infuriate California drivers. I expect it to go about as well in any other state foolish enough to try it.

California is able to pass its own emissions standards via a waiver from the Environmental Protection Agency, first granted to deal with Los Angeles' smog problem in the latter half of the 20th century.

The Obama administration ordered an expansion of California’s waiver beyond just pollution to include emissions as well. In 2019, the Trump administration revoked California’s EPA waiver, a move that was held up in courts until the Biden administration put the waiver back into place in 2021.

It’s likely that the second Trump administration could revoke California’s EPA waiver once it takes office in January, which would — if upheld in court — invalidate many of the emissions programs created by California and the other states that follow.

We will be watching and reporting as this develops.

Ford's plan to turn the inside of your car into one big eavesdropping, ad-spewing smartphone



Be careful what you say while driving — your car may be listening.

Automaker Ford has recently applied for a patent for what it calls the“In-Vehicle Advertisement Presentation System.”

If this doesn’t anger you, wait till you're bombarded with texts, messages on your center screen, and more garbage emails.

This technology uses in-car microphones to listen to passengers’ conversations and display targeted advertisements. It can also analyze voice commands and navigation data to serve relevant ads, like promoting local businesses or services.

This is no doubt welcome news for those of us who can't get enough of billboards — or those of us who've always wished our vehicles could invade our privacy as much as our smartphones do.

The Ford patent is just one of the ways automakers are exploring ways to monetize user data — a sign that the days of the automobile as a sanctuary for private conversations are coming to a close.

But the Ford Global Technologies patent is particularly invasive, demonstrating insidious “systems and methods” to bombard you with personalized ads.

Not only would the new technology be able to listen to conversations, it would also capture and analyze data such as vehicle location, speed, and traffic conditions.

The system would also use information on the driver’s destination and location history to predict what kind and what length ads to show them.

Listening to passengers' conversations would also help the company learn how they react to the ads and the best times to run them through audio and human-machine interface systems installed in the car.

The application also mentions using historical user data and third-party app information to refine ad targeting.

Ford has shrugged off any privacy concerns.

"Submitting patent applications is a normal part of any strong business as the process protects new ideas and helps us build a robust portfolio of intellectual property," a Ford spokesperson told the Record. "The ideas described within a patent application should not be viewed as an indication of our business or product plans."

In other words: We're not really doing it ... and it's good that we're doing it.

In a follow-up statement, Ford said it "will always put the customer first in the decision-making behind the development and marketing of new products and services."

The patent application does not offer specifics regarding data-protection measures, likely adding to the unease expressed by privacy advocates.

While such a system would rely heavily on data, the patent doesn’t show the collected data would be protected. Nevertheless, as with many issued patents, the released document doesn’t guarantee that the invention will be implemented in the future.

It also should be noted that auto manufacturers have been found to sell data about drivers' habits behind the wheel to auto insurance companies, which is then used to set insurance rates. This suggests that they view user data as another revenue stream to market to interested parties other than advertisers.

If this doesn’t anger you, wait till you're bombarded with texts, messages on your center screen, and more garbage emails.

Ford has filed other patent applications that have raised privacy concerns. One recent example is a patent for "Systems and Methods for Detecting Speeding Violations." We have covered this on our channel.

And another controversial patent, which Ford later abandoned after widespread criticism, proposed a system for repossessing vehicles from owners who had missed payments. The system would either direct self-driving cars to repossession lots or disable standard vehicles by locking their steering wheels, brakes, and air conditioning.

For more on this, see the video below:

Why state mileage taxes violate your constitutional rights



Does your state charge you for every mile you drive?

Oregon's been doing it since 2015. Utah since 2020. And more states are planning to follow suit.

There's just one problem: So-called mileage taxes are blatantly unconstitutional.

The right to travel freely is a fundamental right; as such, it is protected under the Privileges and Immunities Clause of Article IV and the Due Process Clause of the 14th Amendment.

The $1.2 trillion "Bipartisan Infrastructure Deal" Sec. 13002 contains provisions that implement a federal per-mile user fee on drivers of passenger vehicles and requires carmakers to build driver monitoring technology.

How will the government check your mileage? Look no farther than your smartphone, which knows where you are and how fast you're going. Oh, and it listens to what you're saying, too.

Leave it to California Governor Gavin Newsom (D) to take such an Orwellian idea and run with it. He wants to install special GPS odometers in both gas and electric cars (as well as motorcycles) in order to charge Californians three cents for each mile driven.

Don't worry, these new tracking devices will stop charging you the minute you leave the state — honest!

Newsom claims the new by-the-mile system will let the state get rid of its gasoline tax — but don't hold your breath. At any rate, this mileage tax shouldn't be on the table at all — in any state.

In its 1868 decision Crandall v. State of Nevada, the Supreme Court ruled that states cannot impose taxes or regulations that burden the right of individuals to travel freely, including the modes of travel they use. The case specifically addressed Nevada's attempt to tax individuals leaving the state by various means of conveyance, such as stagecoaches or steamboats.

The right to travel freely is a fundamental right; as such, it is protected under the Privileges and Immunities Clause of Article IV and the Due Process Clause of the 14th Amendment.

The Court's reasoning was grounded in the principle that such taxes would infringe upon a fundamental right and exceed the permissible scope of state taxation powers.

Since all citizens have the right to move around freely, a state cannot impose taxes that interfere with their ability to leave.

The bottom line is the government does not have the right to charge you by the mile, no matter what these legislators may think. But legal niceties are of little interest to budding authoritarians looking for more cash from their subjects.

Now is the time to fight back against these laws before our rights as drivers — and as citizens — are eroded any further.

Multiple states to BAN motorhome sales in latest EV tyranny



California is banning motorhomes.

No, not the dilapidated firetraps illegally parked in crime and drug-infested encampments throughout the state — some 10,000 in greater Los Angeles alone. Those are fine.

The regulations — which will effectively ban the sale of new motorhomes with a gross vehicle weight rating over 8,500 pounds — take effect January 1, 2025.

It's new motorhomes — the kind that retirees might buy to live out their sunset years on the road — that the Golden State wants gone.

Starting in 2025, California’s Advanced Clean Trucks regulation, aimed at promoting zero-emission vehicles, creates a near-total “ban” on motorhome sales in the state.

And because Oregon, Washington, New York, New Jersey, and Massachusetts follow California Air Resource Board regulations, they'll be putting the kibosh on motorhome sales as well.

As I said last week, this CARB needs cutting if we ever want to release ourselves from California's draconian authority over what we can drive.

The ACT regulation mandates manufacturers of medium and heavy-duty vehicles to sell an increasing percentage of zero emissions vehicles each year.

The regulations — which will effectively ban the sale of new motorhomes with a gross vehicle weight rating over 8,500 pounds — take effect January 1, 2025.

Since 2020, the RV Industry Association has been asking CARB for exemptions from the ACT regulations, citing negative impact on motorhome manufacturers and dealers, to no avail.

Complicating the matter are two other recently-passed regulations: the Omnibus Low NOx rule and the Advanced Clean Fleets rule. Along with ACT, these rules seek the gradual replacement of medium- and heavy-duty vehicles with zero emission vehicles by 2036.

CARB also has its focus on off-road vehicles with the Small Off-Road Engine regulation, which threatens spark-ignition engines on generators. So no offroad vehicles or gas-powered generators?

This has gone way too far.

These rules also go into effect in Vermont for 2026 model year motorhomes. And the rules take effect in Colorado, Maryland, New Mexico, and Rhode Island with the 2027 model year.

Get ready to go electric whether you like it or not. If you have an older motor home, it will need to be smogged twice a year. More regulations and more money out of your pocket.

This all happened because of California's vote in August to ban the sale of new gasoline-fueled cars by 2035.

One state controlling the other 49 is clearly unconstitutional. We need to fight this regulation at a federal level.

We'll keep you posted, as usual.

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 Trump's in the driver's seat?

A lot of automakers are hoping the country can switch lanes. Under Biden, it's been a bit of a road to nowhere, with current regulations mandating strict fuel efficiency and emissions standards by 2030.

This year’s election promises to be more consequential to the automotive industry than any previous election.

These standards, of course, are meant to steer the industry toward electric vehicles. One problem: The consumer demand just isn't there, at least in the near term. Factor in the substantially higher production cost of EVs compared to traditional gasoline and hybrid models, and the government is asking these companies to take a huge financial risk.

Volkswagen Group and Stellantis are two automotive giants already feeling the pain of too much investment in EVs, as their recent cost-cutting measures demonstrate.

Shifting gears

Expect the Trump-Vance administration to shift away from the electric vehicle mandates, though the degree of pullback is unknown. Given the level of resources both domestic and foreign automakers have already invested in EV production and the multi-year timeline required to change product plans, a substantial reduction in EV incentives and sales will still prove costly for the industry.

The uncertainty surrounding political shifts has long been one of the most challenging aspects of running a successful car company. This year’s election promises to be more consequential to the automotive industry than any previous election.

An impossible path

The disconnect between current electric vehicle regulations and real-world consumer demand has put traditional automakers on an impossible path. They've invested billions in rapid EV development even as sales have lagged and cars have piled up on dealer lots.

We expect the Trump administration to carefully assess and ultimately replace the existing MPG mandates (a de facto EV mandate) with a policy that better recognizes market reality.

While this will be a net positive for traditional automakers, it could mean even slower growth in EV sales and a tougher road ahead for electric vehicle brands like Lucid, Rivian, and Tesla.

We wonder if Trump's new BFF, Elon Musk, will have anything to say about that. Perhaps Tesla's market dominance — as well as its exemption from tariffs as an American-made car — will let it continue to thrive. Musk is nothing if not resourceful.

CARB cutting

Once Trump takes office in January, he could quickly roll back these onerous emissions standards by executive order.

Some questions remain: How soon until the automaker CEOs make formal requests to Trump to abolish the EV mandate? Can we finally abolish the California Air Resources Board?

California has long had outsized power to drive the national EV agenda. The state not only leads the country in EV adoption, it is also responsible for creating the Zero-Emission Vehicle program, which requires new vehicles to reach 100% zero-emission and clean plug-in hybrid-electric status in California by the 2035 model year.

So far, 16 other states have adopted the ZEV program; the average number of EVs per 10,000 residents in those states is more than double what it is in non-ZEV states.

But with Trump’s advisers already planning to revisit the Clean Air Act waivers that allow California to enforce its own, stricter pollution standards, the Golden State's grip on the kind of cars Americans get to drive could be weakening.

We will be watching all the new rules and regulations and will keep you posted.

Don't throw away money on your car lease — read this first



Leasing's a great way to save on costs, but sometimes even the most unsentimental motorists find themselves catching feelings — and wanting to settle down.

If this is you, you may want to consider buying out your lease — especially if you have low miles and want a new(ish) car without committing to a huge monthly payment

But imagine you can get a good deal on your lease and the residual value is lower than expected. Leasing could let you avoid getting locked into a car until you know it fits your lifestyle.

Here's how to determine whether a lease buyout is the right financial move for you.

When should you lease before buying?

A lease buyout is a good idea if you are ready to drive a vehicle long-term rather than going ahead with a new lease. If you want lower initial payments before committing to a car loan, leasing with the intent to purchase could be a good option.

It is not the right choice if you are the type of driver who always wants the latest model.

To decide whether to lease or buy, add the total cost of leasing a car, including upfront fees, to the car’s projected residual value at the end of the lease.

Then compare that number to the car’s sale price plus all fees and factor that over the life of the car loan. See which number is lower.

Sometimes, leasing and then buying is more expensive than buying outright. This is especially true if you exceed the dealer’s mileage limits or the residual value at the end of the lease is much higher than anticipated.

But imagine you can get a good deal on your lease and the residual value is lower than expected. Leasing could let you avoid getting locked into a car until you know it fits your lifestyle.

Before choosing the make and model of your potential lease, weigh your typical driving habits.

How long do you want to drive the car?

If you hope to buy or lease the newest model in fewer than two years, it doesn’t make sense to lease and then purchase the vehicle. It's difficult to know whether your car’s residual value will increase or decrease over the lease term.

But if it decreases and you decide to keep the car for a short period, you’ll likely owe more than the car is worth, and the money will have to come out-of-pocket to swap it out.

How many miles do you typically drive a year?

Leases come with annual mileage limits. Typically 10,000, 12,000, or 15,000 miles. If you exceed those limits, purchasing your vehicle after the lease might save you from excess mileage fees. But be sure that those fees outweigh the price you’ll pay to purchase the vehicle.

Will you truly save money?

Compare a new monthly vehicle payment to a lease payment. Also, factor in:

  • The purchase price
  • The security deposit
  • The acquisition fee
  • Documentation fees

If you would pay more while leasing to buy, it might be smarter to buy the vehicle outright rather than leasing it first.

How to buy out a car lease

1. Weigh your financing options

Get at least three different auto loan rates for a car purchase or a lease before signing off. The more offers you have in front of you, the better your chance of receiving a good deal.

It can also help you determine whether leasing a different vehicle or buying the car you’ve been driving will be more affordable over time. Shopping for a lease buyout loan should be approached with securing a traditional loan.

Consider getting the vehicle checked before deciding to go through with a buyout. Depending on how long you have had the lease, you may be under the factory warranty and get necessary repairs cheaply. You shouldn’t purchase the vehicle if it is in poor condition, but be prepared to cover excessive wear and tear with fees charged by the dealer.

2. Negotiate the price

Often, companies have a no-negotiations rule for the purchase price of a lease buyout, leaving little opportunity for haggling. Still, it can’t hurt to raise the subject. Ask the seller to consider a few concessions, like:

  • Waiving the purchase-option fee
  • Offering purchase incentives
  • Discounted financing

Experts point to the purchase-option fee as a sticking point many sellers are willing to take off the table.

3. Weigh the costs

Only go ahead if you are getting a great deal on both the lease and the payoff amount. If it would be cheaper to buy your car upfront or if you think you’ll want the car for a long time, skip the lease. Just buy a car directly instead.

Is the auto industry headed for a crash?



Plant closures in Europe. Layoffs in America. Plunging sales everywhere.

The auto industry is in trouble — and we could all end up suffering the consequences.

EV woes have hit Ford as well. Later this month, the carmaker will suspend operations at its F-150 Lightning EV plant for the rest of year.

Let's start with Volkswagen. The company stands proud as the biggest carmaker in Europe, and it has never closed a factory in its home country of Germany.

Until now.

Punch buggy blues

At the end of October, the company asked workers to take a 10% pay cut as part of an ongoing campaign to cut costs across the VW Group. Industry insiders fear that domestic plant closures — the first in the company's 87-year history — could be next, with up to three German factories shutting down, costing more than 100,000 jobs.

“Management is absolutely serious about all this. This is not saber-rattling in the collective bargaining round,” warned Volkswagen works council head Daniela Cavallo in a speech to employees.

These cuts would reduce the number of domestic plants to seven and cut the workforce by a third.

The plants that do stay open would also endure cost-cutting measures, according to a separate report, with downsizing and wage freezes on the table.

VW aims to save about €10 billion (roughly $10.8 billion USD) by 2026.

Thomas Schaefer, the head of the Volkswagen brand, has previously noted that German factories are operating at between 25% and 50% above targeted costs. This is largely due to Europe’s high energy costs, which German carmakers say are four times higher than in China and the United States.

Compounding this problem are increased competition from Chinese brands and a lack of demand for electric cars.

Volkswagen hasn’t commented on the report, and it hasn’t announced plant closures or layoffs yet.

Previously, Volkswagen had considered buying Audi's struggling EV plant in Brussels. Those plans changed, and with no other suitable buyers on the horizon, the plant may close its doors for good.

The outlook isn't much sunnier stateside, either.

GM feels the heat

General Motors is laying off some 1,000 software workers globally, 600 of whom are employed at its tech center in Warren, Michigan.

In a memo to workers obtained by Automotive News, GM said the cuts were to enable it to “move faster, pivot when needed, and prioritize investing in what will have the greatest impact.”

This is certainly a pivot from the last several years, in which GM has been expanding its software team to help with its electrification and autonomous efforts. The company had predicted that those services could generate $25 billion in revenue by 2030.

While General Motors has claimed that these cuts target "software and service" employees, that's not exactly true. The layoffs come from GM's Ultium division, which is the sub-EV company GM created to differentiate it from its gasoline engine department.

I can confirm that Ultium has let go a number of thermal engineers without warning. Thermal engineers, as you might guess, are crucial to thermal management: keeping EV batteries, power electronic systems, and motors from overheating.

Is this a sign that GM is no longer all-in on electric and is drastically reducing R&D on future EVs?

Sure looks like it.

Ford's loser Lightning

EV woes have hit Ford as well. Later this month, the carmaker will suspend operations at its F-150 Lightning EV plant for the rest of year.

The highly touted electric pickup loses the company $40,000 on each vehicle sold. Hardly sustainable, especially given that Ford's Q3 net income is down 26%, and cost issues have caused it to drop its full-year adjusted earnings projection to around $10 billion.

Mercedes: Bust in class

The luxury car market isn't what it used to be, either.

Mercedes Benz has cut production on its S-Class line in response to declining sales: down 13% in China, 19% in the U.S., and 27% in Europe. The high-end vehicles have been rolling off the company's cutting-edge Factory 56 assembly line in Germany since 2020 — always in at least two shifts.

Now, for the first time since Mercedes opened what it touts as the most modern car factory in the world, one shift will suffice.

The plant also builds the electric EQS as well as Maybach and AMG models. Mercedes will refresh the S-Class next year, so demand could pick back up with a new model.

Ram tough

Stellantis CEO Carlos Tavares has been heaping scorn on his previous U.S. management team and no wonder: Third-quarter sales in North America were a disaster, falling 20%, and down 17% for the year.

That's bad news for iconic American brands Jeep, RAM, Dodge, and Chrysler — and it has investors heading for the exits.

But times are tough all over for the car conglomerate. Sales in Europe fell 17%, with even Maserati relegated to the slow lane with a stunning 60% drop.

Business isn't much better in China, India, and Asia Pacific, where sales fell 30%.

Border run

And in a move that is sure to infuriate the UAW, Tavares plans to move production of Ram's full-size 1500 pickup truck from the U.S. to its Saltillo, Mexico, plant, which already produces Ram heavy-duty pickups and vans.

While Mexico offers lower labor costs, no doubt the move is also to prevent the UAW from choking off production during any future strike. We think that’s the same reason Ford moved part of its heavy-duty truck production to Canada. It’s a game of chess, and both Ford and Stellantis are working to escape checkmate.

For more on the ongoing car industry crisis, check out my video below:

7 tips for getting the best car loan possible



If you’re considering buying a car, odds are you’re thinking about getting an auto loan as well.

Below are seven crucial tips about auto loans that will help you find a financing solution that’s a good fit for your needs so that when the time actually comes to buy a car, you’ll be ready to roll.

1. Aim for shorter terms

If your financial situation allows for it, choosing a shorter loan term offers certain advantages.

Not only will the interest rates be lower the shorter the term, but you’ll save by paying less overall for your vehicle. Plus, you’ll be on the path to paying it off sooner.

If you can’t afford the monthly loan payment on the car you want with a shorter-term loan, then you might consider waiting until you can make a slightly larger down payment.

2. Pay it down

Whatever your dream car may be, the bigger your down payment on it, the lower your interest rate will be. At a minimum, you should try to put down at least 20%. The general rule of thumb is that for every $1,000 you put down, your monthly payment will decrease roughly $18.

3. Time it right

Timing is everything, especially when it comes to buying a car. If you can, wait until the later months like October, November, or December to shop.

Also, try to look later in the month and earlier in the week, as these are the times when salespeople are trying to meet their quotas and therefore are more likely to negotiate down to lower prices.

4. Cover those taxes & fees

Among the things that are often overlooked until the end of the car-buying process are the taxes and fees. If you can, try to account for these in the beginning of the process and pay them off in cash. It may sound like a small detail, but it can save you hundreds of dollars over the course of your loan.

5. Refinance & save

There are many situations where refinancing your existing car loan can save you money. Your credit may have improved or maybe you just want to lower your monthly payments.

Whatever your situation may be, refinancing may be the quickest way to a better interest rate. Try this calculator to see if refinancing might be right for you.

6. Consider going through a credit union

While credit unions can help you consolidate an existing auto loan, they're also a good first choice to finance a loan.

Walking into a dealership with an already-approved auto loan from a credit union gives you a stronger bargaining position. See if the dealership can beat the rate you have.

7. Use conquest and loyalty discounts

If you are buying a new car, never leave this discount behind. The amount can be $500-$2500 to keep your loyalty or to get you to buy into a competing brand.