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Donald Trump’s return to the White House could disrupt the auto industry’s EV ambitions. Plus, Elon Musk’s advisory role with the new administration and his plans for autonomous tech. And, IKEA opens its first stand-alone restaurant in London.

Show Notes with links:

• Former President Donald Trump has won the 2024 election, and his return could lead to major shifts for the auto industry, especially around electric vehicle (EV) policies, trade, and incentives. Here’s what might be in limbo for automakers:
  • EV Regulations: Trump may roll back aggressive EV mandates set under Biden, reducing pressure on automakers to hit strict electrification targets.
  • Tax Credits: Biden-era EV tax credits could be at risk, impacting demand and profitability for manufacturers deeply invested in electric tech.
  • California’s Emission Standards: Trump might revoke California’s right to set its own emissions standards, affecting states that follow its lead.
  • Trade Policies: Trump may tighten restrictions on Chinese vehicle parts, intending to boost domestic production but likely increasing vehicle costs.
• The Elon factor: Here’s how Musk’s involvement could shape auto policies and beyond:
  • Trump has proposed forming a government efficiency committee led by Musk, aiming to cut $2 trillion from the federal budget. Musk has already expressed his interest in reducing government spending by 30%.
  • Musk advocates for a unified federal approval process for autonomous vehicles, reducing state-by-state regulatory inconsistencies. He commented, “If there is a department of government efficiency, I’ll try to make that happen.”
  • While Trump is generally less favorable toward EV mandates, analysts speculate that Musk’s influence may push for selective pro-EV policies that align with Tesla’s interests.
  • Musk, a long-time proponent of U.S.-based manufacturing, may support Trump’s trade stance on limiting Chinese parts imports, which could impact supply chains and costs for EV makers.
  • Tesla stocks spiked 15% following the election, underscoring investor optimism over Musk’s potential influence in the new administration.

• General Motors has claimed the number two spot in EV sales in the U.S. for Q3 2024, with 32,000 EVs sold across multiple brands. Ford, however, disputes GM's approach to these numbers.
  • GM’s EV lineup includes the Chevy Silverado, Blazer, Equinox EVs, GMC Hummer EV, and Cadillac Lyriq, all on the Ultium platform.
  • GM has sold 370,000 EVs in North America since 2016, with 300,000 of those in the U.S. Tesla remains far ahead, with over 5 million units sold globally since 2008.
  • Ford argues it’s still the “No. 2 best-selling EV brand,” claiming GM’s figures count all brands together, altering the comparison.
• From Reddit polls to repeat diners, IKEA’s food offerings are beloved, with many customers visiting the store just for the food which is why IKEA’s

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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