Officials New York State arrested several people in connection with a scheme to provide driver’s permits and licenses to applicants who had not passed exams. On July 2, the New York State Office of Inspector General announced charges against the following New York Department of Motor Vehicles workers as part of a sweeping investigation called ...more
Stellantis Sales in US Drop 10% Despite Ram Recovery
A 2026 Ram 1500 pickup truck. (Ram Trucks) Stellantis NV’s U.S. sales fell 10% in the second quarter despite resilient demand for Jeep SUVs and Ram trucks, indicating the beleaguered automaker still has a ways to go in its recovery bid. Ram sales rose 5% in the period, driven by rising demand for its light-duty ...more
US Trade Deals Seek to Shut Out China
Gantry cranes and containerships at the Yangshan Deepwater Port in Shanghai. (Qilai Shen/Bloomberg) The trade truce between Washington and Beijing may be holding for now, but China is increasingly wary about what’s happening elsewhere: U.S. efforts to forge deals that could isolate Chinese firms from global supply chains. Ahead of a July 9 deadline, U.S. ...more
Del Monte Foods Files for Bankruptcy
Del Monte executed a debt overhaul last year. (Daniel Acker/Bloomberg) Canned food company Del Monte Foods filed for bankruptcy, less than a year after executing a controversial debt restructuring. The company entered into a lender-backed restructuring support agreement that calls for the food producer to sell its assets in bankruptcy court. Del Monte has lined ...more
Rivian Limits EV Output to Avoid Excess of Outgoing Models
Rivian electric vehicles at a dealership in San Francisco in June. (David Paul Morris/Bloomberg) Rivian Automotive Inc. produced about half as many electric vehicles as Wall Street expected in the second quarter prior to the launch of 2026 model year vehicles later this month. The EV maker assembled 5,979 trucks, SUVs and delivery vans at ...more
Tesla Sales Fell Sharply in Q2 Over Musk Backlash
Musk and Trump sit in a Tesla Model S at the White House in March. (Pool via AP/File) NEW YORK — Sales of Tesla electric cars fell sharply in the last three months as boycotts over Elon Musk’s political views continue to keep buyers away, a significant development given expectations that anger with the company’s ...more
Old-School Cargo Theft Surges in Mexico
Tractor-trailers wait in line for inspection before crossing the U.S.-Mexico border in Juarez, Mexico. (Justin Hamel/Bloomberg) Late one Friday night, a truck carrying sound equipment for legendary cumbia band Los Angeles Azules was pulled over along the Mexico-Puebla highway. Police at the checkpoint were in fact bandits, and upon seeing the pricey cargo they drew ...more
Trucking Still Squeezed by High Costs and Low Rates
“The trucking industry is facing the most challenging freight market in years, with loads down and costs increasing,” Groendyke's Hodgen said. (THEPALMER/Getty Images) The average cost of operating a truck dipped slightly last year, but marginal costs jumped when the effects of lower fuel costs were excluded, the American Transportation Research Institute said in a ...more
Analysis Shows Trump’s Tariffs Would Cost Employers $82.3B
President Donald Trump signs executive orders in the Oval Office on Jan. 20. (Evan Vucci/AP) WASHINGTON — An analysis finds that a critical group of U.S. employers would face a direct cost of $82.3 billion from President Donald Trump’s current tariff plans, a sum that could be potentially managed through price hikes, layoffs, hiring freezes ...more
Toyota Postpones EV Plans to Boost Gas-Fueled SUV Production
A 2024 Toyota Grand Highlander at the Chicago Auto Show in 2023. (Kamil Krzaczynski/AFP/Getty Images) Toyota Motor Corp. is tapping the brakes on plans to build electric vehicles in the U.S. to free up manufacturing capacity for a popular gas-powered SUV. The Japanese automaker plans to begin producing a new electric SUV at its plant ...more