US auto sales could fall by 25,000 a year under rules barring Chinese vehicles [Yahoo! Finance]
General Motors Company (GM)
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Source: Yahoo! Finance
U.S. automakers and others selling in the United States "may be less competitive in the global market because of the relatively higher prices of their vehicles," the department said. It estimated between 1,680 and 25,841 fewer vehicles would be sold annually because of the rule. Acting to reduce national security vulnerabilities that could be exploited by China, the department estimated the rule could bar $1.5 billion to $2.3 billion in vehicle inputs from Chinese or Russian companies for vehicles sold in the United States. It said previously that the proposal would amount to an effective ban on Chinese vehicles since all would have internet-connected vehicle software and hardware, but it has proposed a process for companies to seek exemptions. The Commerce Department proposes making software prohibitions effective in the 2027 model year, while the hardware ban would take effect in the 2030 model year or January 2029. The public has 30 days to make comments before the rules can
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News
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- General Motors lays off about 1,000 workers, cutting costs to compete in a crowded automobile market [Yahoo! Finance Canada]Yahoo! Finance Canada
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- GM cuts 1,000 jobs globally, mostly salaried but some hourly, in move to gain efficiency [Yahoo! Finance]Yahoo! Finance
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