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Episode #1057: Nissan eyes a fire sale to survive, Trump’s tariff plan hits legal trouble, and GM claims Canada’s EV crown from Tesla—at least for now.

Show Notes with links:

• As CEO Ivan Espinosa wraps up his first quarter in charge, Nissan’s financial stability hangs in the balance, with a massive debt wall looming and rumors of a fire sale to raise cash.
  • Nissan has $5.12 billion in debt due in 2026 and plans to refinance up to $4.15 billion of that.
  • Espinosa’s turnaround strategy involves slashing 20,000 jobs, closing seven global factories, and cutting $3.46 billion in costs by 2028.
  • To free up capital, Nissan may liquidate high-value assets—including its stake in Renault, prime real estate in Japan, and even its iconic Yokohama headquarters, which could be sold and leased back.
  • With nearly half of its U.S. sales coming from imports, Nissan Americas Chairman Christian Meunier is leading a $2B cost-cutting push focused on boosting retail sales, margins, and managing tariff risk.
  • “We are not yet at the stage where we have to do something desperate,” said a board source.

• A federal court ruled Trump’s use of emergency powers to impose sweeping tariffs was illegal—but for now, those tariffs remain while the legal battle unfolds.
  • The U.S. Court of International Trade said Trump exceeded authority under the IEEPA, targeting tariffs not tied to a valid national emergency.
  • IEEPA-based tariffs targeted a wide range of imported consumer goods not tied to national security—covering electronics, clothing, and some vehicle accessories.
  • The ruling gave the government 10 days to unwind the tariffs, but an appeals court temporarily paused that order.
  • Tariffs under Section 232—covering cars, parts, steel, and aluminum—remain, keeping vehicle prices elevated.
  • Retailers like Walmart warn prices may rise further, though Trump has publicly told them to “eat the tariffs.”

• GM claimed the top EV spot in Canada after more than doubling its electric vehicle sales in Q1, driven by fresh model launches and Tesla’s sharp drop.
  • GM sold 5,750 EVs in Q1, led by the Chevy Equinox EV and new Cadillac OPTIQ, outpacing Tesla’s volume.
  • Silverado EV and Hummer EV variants also contributed, with Hummer Pickup sales up 232%.
  • Tesla’s registrations in Quebec plunged 87%, impacted by paused EV rebates at both federal and provincial levels.
  • Despite year-over-year gains, GM’s Q1 total is well off the 15,000 units sold in Q4 2024.

Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.

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