Business
business
Max Knoblauch

Ford and GM shares are down by the most since auto tariffs first took effect

Detroit automakers Ford and GM are significantly lower on Monday, their first trading day since President Trump’s latest comments about auto industry tariffs.

“Over the next year, [auto manufacturers have] got to have the whole thing built in America. That’s what we want,” Trump said in a late Friday press conference. On the same day, Trump said the US will double tariffs on steel and aluminum imports beginning this Wednesday.

Together, those trade sentiments seem to have auto investors more spooked than they’ve been in months. Ford and GM, each down more than 4% Monday, haven’t fallen by this much since April 10, just a week after the 25% auto tariffs went into effect.

Notably, the falls are greater than those around May 3, when a 25% tariffs on auto parts began, or when automakers hinted that price hikes would be on the way this summer as vehicles built in May arrive in lots.

Shares of Jeep maker and Detroit rival Stellantis are down 3.5%.

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Hollywood Exteriors And Landmarks - 2025

1 year into the Switch 2, we might’ve seen the top of the console market

The Switch 2 launched on this day in 2025. Amid a rough year for consoles, Nintendo has logged a good one.

Max Knoblauch6/5/26
business
Max Knoblauch

GM has reportedly rehired more than 100 former Cruise employees, 18 months after shuttering the robotaxi unit

GM has rehired more than 100 employees it let go early last year when it shuttered Cruise, its former robotaxi business, according to reporting by The Information.

The hiring spree, which also includes employees from Nvidia and Uber, is geared toward ramping up GM’s plans for personal-use self-driving vehicles and not robotaxis. The former had been the focus of Cruise, prior to GM shuttering it in 2024.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

Exclusive: With Some 100 Rehired Cruise Employees, GM Pursues Eyes-Off Autonomous Cars

Exclusive: With Some 100 Rehired Cruise Employees, GM Pursues Eyes-Off Autonomous Cars

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

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How Victoria’s Secret finally managed to get its sexy back

After years of struggle, Victoria’s Secret shares have been hitting new highs this week.

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With gas prices soaring, the humble sedan is making a comeback

Recent US sales data reveals a “sedanaissance” among major automakers like Honda, Hyundai, and Toyota.

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McDonald’s has a new strategy: Make its stores “easier to run”

Franchised and affiliated locations already make up over 95% of McDonald’s store count and 62% of its sales.

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