Welcome to today's edition of the Daily 5.
With tariffs very much front and center in the news, we are taking a bit of a departure and leading today's Daily 5 report with our "Daily Drive" podcast series. Staff Reporter John Irwin joins the podcast to discuss the possible impact of tariffs and how companies are bracing for a flood of new costs. He says companies are already holding off on making major investment decisions. "They don't know exactly what the environment's going to look like in the next week or two, let alone a year from now," Irwin tells Executive Producer Jake Neher.
Also on the show, Les Glick, an international trade and customs law attorney with Butzel, says some observers think the tariff threats amount to a political bargaining chip for President Donald Trump. But he says that's not a given.
Today's "Daily Drive" is a must listen!
Dealerships in Virginia are all but assured of a major victory in their long-standing quest for fair compensation from automakers for warranty and recall work. Two identical bills, one originating in each of the state's two legislative bodies, have been unanimously approved by both legislative chambers and now are awaiting Gov. Glenn Youngkin's signature. And there's no reason to expect he won't sign, said Don Hall, CEO of the Virginia Automobile Dealers Association. Hall said the Virginia General Assembly's bipartisan action shows legislators understand the importance of protecting auto technicians and consumers.
Stellantis has nominated Daniel Ramot and Alice Schroeder as new board members, the automaker said March 3, a move that further shifts its governance to its main market, North America. Stellantis has also proposed reelecting five other directors, as the mandates of seven of 11 board members come to an end. Ramot is co-founder and CEO of Via, a global transportation technology company, while Schroeder is a former managing director at Morgan Stanley who sits on the boards of companies including HSBC North America.
Also in Europe, BYD is planning on sustainable growth as the automaker works to reverse sagging sales in Germany, the region's largest market. After rising to become China's biggest automaker, BYD looks to repeat its success in Europe and go head-to-head against heavyweights Volkswagen Group and Stellantis, as well as Asian rivals including Toyota, Hyundai and Kia. BYD says its strategy is to grow sustainably by building cars locally and expanding its retail network. "We have to put down roots here," Maria Grazia Davino, one of BYD's top European executives, said at a conference organized by Automotive News affiliate Automobilwoche on Feb. 26.
And finally, in case you missed it this morning, be sure to check out our digital edition of this week's print issue of Automotive News.
That's it for today. Have a great rest of your day.
If you want to view this story in your browser, click here.
— Wes Raynal, assistant web editor
Posts
