Trump pitches car loan tax deduction, Tesla's big night, Toyota dials back EV production

Hey everyone. Stellantis just confirmed a big change at the top.

This morning, the automaker announced CEO Carlos Tavares will retire at the end of his contract in early 2026. Stellantis plans to have a new CEO named by the end of 2025…

With North American operations lagging, all eyes are on who will take the wheel next.

— CDG

1. Trump proposes car loan tax deduction — Here's what it means

Former President Donald Trump wants to make car loan interest fully tax-deductible, hoping it’ll lower car ownership costs and spark more U.S. auto sales.

He pitched the idea during a speech on the campaign trail at the Detroit Economic Club, comparing it to the existing mortgage interest deduction.

While it sounds appealing, tax experts aren’t convinced—most taxpayers don’t itemize deductions anymore, so the benefits would only reach a small group.

And with elevated car prices and interest rates, this proposal might end up doing more for lenders than for buyers … (Go deeper: 3 min. read)

2. Elon Musk unveils Cybercab, shares vision of "autonomous future"

Elon Musk took the stage last night to sell investors on his vision for some big Tesla updates.

The main attraction? Tesla’s Cybercab—a driverless taxi with no pedals or steering wheels, set to cost under $30,000 when it launches in 2026.

He also teased the “Robovan,” a self-driving bus, and announced that the same Full Self-Driving (FSD) tech used in the Cybercab will roll out to all Tesla models starting in 2025.

But while the presentation showcased some flashy prototypes, Musk’s timeline might be the biggest hurdle. Regulatory roadblocks and testing restrictions could complicate things, leaving some investors wondering if Tesla can deliver on its bold promises … (Go deeper: 4 min. read)

In today's automotive landscape, car buyers invest more time than ever in researching, considering, and comparing options. But for dealers, the challenge lies in pinpointing the audience ready to make a purchase.

Enter Premier by Edmunds.

Premier offers dealers a groundbreaking way to connect with in-market car shoppers precisely when, where, and how they prefer. With over 20 million monthly visits, Edmunds.com is the go-to destination for buyers seeking market insights, expert advice, and budget tools to make informed decisions.

Through Edmunds Premier, dealers gain access to this highly coveted audience. Simply list your new and used inventory on Edmunds, and watch as qualified, in-market traffic flows directly to your vehicle detail pages on your website.

Don't miss out on this opportunity to elevate your dealership's visibility and sales performance. You can sign up for Premier today at Edmunds.com/CDG.

3. Toyota further slows U.S. EV production plans, warns of job lost risks

Toyota is taking its time when it comes to American electric vehicles (EVs), choosing to hold off on U.S. EV production until 2026.

The decision, according to Chairman Akio Toyoda, is all about preventing widespread job losses and avoiding a rushed transition.

But this delay has big implications for Toyota’s $1.3 billion investment in its Kentucky plant, originally set to kick off EV production in 2025. It’s also shaking up Subaru’s plans, given the two automakers’ production partnership.

As the world’s leading automaker, Toyota’s cautious approach could set the tone for how other manufacturers rethink their EV strategies in today’s market … (Go deeper: 1 min. read)

Deep dive: Auto industry companies embrace generative A.I. boom

Generative AI is quickly making its mark on the automotive world, and it’s no surprise—75% of industry leaders say they’ll be using it within a year.

The market is expected to jump from $335 million in 2023 to $2.6 billion by 2033 as AI takes on everything from vehicle ordering to customer service.

Companies like Numa and Tekion are already pulling in millions to supercharge their AI tech.

But with rapid growth come some risks, and dealerships will need to keep an eye on potential data security issues as they dive deeper into AI adoption … (Go deeper: 4 min. read)

• AutoNation closes 38 Florida stores as dealers start gauging damages after Milton.

• Stellantis overhauls leadership, including in North America and Europe.

• Rivian’s R1T is getting a new solar-powered tonneau cover.

• The best-performing cars Edmunds has tested.

• Fisker Ocean vehicle data 'impossible' to port to another server.

Thanks for reading everyone.

— CDG