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Bill Ackman’s Pershing Square Capital Management has amassed a nearly 20% stake in Hertz in a bet on the rental car company’s turnaround plan and that tariffs will boost the value of its vehicles.

Just hours after taking effect, President Donald Trump’s 25% tariffs on imported cars were already reverberating around the globe.

This past weekend was “by far the best weekend I’ve seen in a very long time,” said Randy Parker, the CEO of Hyundai and Genesis in North America.

Automakers are attempting to sway the Trump administration on tariffs, contending that levies on the thousands of parts they source abroad could have catastrophic effects on the industry.

Edmunds projects Q1 car sales totaling 3.8 million vehicles, the strongest start to the year since 2021. Promised U.S. tariffs could jack up sticker prices once inventories are depleted.

As the fallout from President Donald Trump’s tariff plans comes into relief, a harsh truth is emerging for the automotive industry: There are lots of losers and not many winners.

The threat by President-elect Donald Trump to end tax credits for electric vehicles helped lift sales in the fourth quarter, giving U.S. automakers a much-needed boost after a disappointing year.

Sluggish car sales are expected to pick up later this year once the U.S. presidential election is over and the Fed’s recent reversal on interest rates starts to ease financing costs.

AutoNation warned the cyberattack that crippled retailers across the country until early this month cost the company a significant chunk of second-quarter earnings.

U.S. new-vehicle sales rose only slightly in the second quarter despite larger discounts and slightly lower prices.