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      Auto Sales Grew Slightly in Second Quarter

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      High interest rates, economic uncertainty and a cyberattack appear to have dampened sales in the three months between April and June.Most automakers on Tuesday, with the exception of Tesla, reported modest sales growth in the three months between April and June as high interest rates, persistently high vehicles prices, and uncertainty about the economy and the coming presidential election weighed on consumers.Sales in late June were also slowed by disruptions at car dealers stemming from a cyberattack on a company that supplies software and data services to dealerships.Cox Automotive, a market research firm, estimated that 4.1 million new cars and trucks were sold in the second quarter, up a little more from the same period in 2023. In the first six months of 2024, 7.9 million new vehicles were sold, an increase of 3 percent from the first half of last year, Cox said.Slow growth is likely to continue through the rest of the year, with consumers delaying big-ticket purchases until after the election, said Jonathan Smoke, Cox’s chief economist. “The market is roiled by uncertainty,” he said. “We probably can’t quite keep the pace of sales of the first half, but we aren’t expecting a collapse in sales, either.”Cox has forecast 15.9 million new cars and trucks will be sold this year. That would be an increase from the 15.5 million that were sold last year, but still well below the 17 million vehicles sold annually before the pandemic.General Motors said on Tuesday that it sold nearly 700,000 cars and light trucks in the United States in the second quarter, an increase of less than 1 percent from the same period last year. The company said it was its highest quarterly total since the fourth quarter of 2020.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Germany Hopes to Head Off a Trade War With China

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      As the European Union moves to impose tariffs on Chinese cars, Germany, with an auto industry deeply enmeshed with China, is stuck in the middle.With billions of dollars in trade between China and the European Union at stake, Germany’s second-highest cabinet official called on Saturday for the two sides to engage in talks to try to resolve an escalating dispute over tariffs.Robert Habeck, who is Germany’s vice chancellor and minister for economic affairs and climate, said that he expected talks to begin soon between China and European officials. He expressed a hope that tariffs could be avoided.Still, he added that tariffs could be justified if the commission’s concerns about China’s subsidies for its electric car industry were not resolved.This month, the European Commission, the executive body of the European Union, proposed tariffs of up to 38 percent on electric cars from China, on top of an existing 10 percent tariff on imported cars. The commission said it found that China’s electric car sector was heavily subsidized by the government and state-controlled banking system.“These tariffs are not punitive,” Mr. Habeck said, adding that the tariffs are intended to offset subsidies that violate World Trade Organization rules.But Chinese officials strongly criticized the European tariffs after meeting with him. Wang Wentao, the commerce minister, described them as protectionist and called on Germany to help end them. “It is hoped that Germany will play an active role in the E.U. and promote the E.U. and China to move toward each other,” the ministry said in a statement.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      How Electric Car Batteries Might Aid the Grid (and Win Over Drivers)

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      Automakers are exploring energy storage as a way to help utilities and save customers money, turning an expensive component into an industry asset.Electric cars are more expensive than gasoline models largely because batteries cost so much. But new technology could turn those pricey devices into an asset, giving owners benefits like reduced utility bills, lower lease payments or free parking.Ford Motor, General Motors, BMW and other automakers are exploring how electric-car batteries could be used to store excess renewable energy to help utilities deal with fluctuations in supply and demand for power. Automakers would make money by serving as intermediaries between car owners and power suppliers.Millions of cars could be thought of as a huge energy system that, for the first time, will be connected to another enormous energy system, the electrical grid, said Matthias Preindl, an associate professor of power electronic systems at Columbia University.“We’re just at the starting point,” Dr. Preindl said. “They will interact more in the future, and they can potentially support one another — or stress one another.”A large flat screen on the wall of the Munich offices of the Mobility House, a firm whose investors include Mercedes-Benz and Renault, illustrates one way that carmakers could profit while helping to stabilize the grid.The graphs and numbers on the screen provide a real-time picture of a European energy market where investors and utilities buy and sell electricity. The price changes from minute to minute as supply and demand surge or ebb.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Can Trump Really Slam the Brakes on Electric Vehicles?

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      He has vowed to shred President Biden’s E.V. policies and has threatened that “You won’t be able to sell those cars.”Donald J. Trump is crystal clear about his disdain for electric vehicles. The former president has falsely claimed electric cars don’t work, promised to shred President Biden’s policies that encourage E.V. manufacturing and sales, and has said he would slap a “100 percent tariff” on electric cars imported from Mexico if he retakes the White House.“You’re not going to be able to sell those cars,” he has said.But analysts say that even if Mr. Trump is elected and ends federal policies that support electric vehicles, by the time that happens, the market may have reached a level where it would keep growing without government help.A record 1.2 million Americans bought electric vehicles last year, making up 7.6 percent of new car sales and moving the cars and trucks from the margin to the mainstream of the American auto market. Analysts project that will climb to 10 percent this year, which researchers say could signal a tipping point for rapid, widespread E.V. adoption.While a Trump presidency couldn’t slam the brakes on the E.V. transition, it could throw enough sand in the gears to slow it down. And that might have significant consequences for the fight to stop global warming.President Biden placed electric vehicles at the heart of his climate agenda because scientists say that a rapid switch from gasoline-powered cars to electric versions is one of the most effective ways to slow the carbon dioxide emissions that are dangerously heating the planet. Last year was the hottest in recorded history and scientists say the world is on track to heat up even more, to the point where parts of the planet will be unlivable.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Biden Doesn’t Want You Buying an E.V. From China. Here’s Why.

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      The president wants to shift America’s car fleet toward electric vehicles, but not at the expense of American jobs or national security.President Biden wants more of America’s cars and trucks to run on electricity, not gas. His administration has pushed that goal on multiple fronts, including strict new regulations of auto emissions and lavish new subsidies to help American consumers take as much as $7,500 off the cost of a new electric vehicle.Mr. Biden’s aides agree that electric vehicles — which retail for more than $53,000 on average in the United States — would sell even faster here if they were less expensive. As it happens, there is a wave of new electric vehicles that are significantly cheaper than the ones customers can currently buy in the United States. They are proving extremely popular in Europe.But the president and his team do not want Americans to buy these cheap cars, which retail elsewhere for as little as $10,000, because they are made in China. That’s true even though a surge of low-cost imported electric vehicles might help drive down car prices overall, potentially helping Mr. Biden in his re-election campaign at a time when inflation remains voters’ top economic concern.Instead, the president is taking steps to make Chinese electric vehicles prohibitively expensive, in large part to protect American automakers. Mr. Biden signed an executive action earlier this month that quadruples tariffs on those cars to 100 percent. Those tariffs will put many potential Chinese imports at a significant cost disadvantage to electric vehicles made in America. But some models, like the discount BYD Seagull, could still cost less than some American rivals even after tariffs, which is one reason Senator Sherrod Brown of Ohio and some other Democrats have called on Mr. Biden to ban Chinese E.V. imports entirely.The apparent clash between climate concerns and American manufacturing has upset some environmentalists and liberal economists, who say the country and the world would be better off if Mr. Biden welcomed the importation of low-cost, low-emission technologies to fight climate change.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      California Will Add a Fixed Charge to Electric Bills and Reduce Rates

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      Officials said the decision would lower bills and encourage people to use cars and appliances that did not use fossil fuels, but some experts said it would discourage energy efficiency.Utility regulators in California on Thursday changed how most residents will pay for energy by adding a new fixed monthly charge and lowering the rates that apply to energy use. Officials said the shift would reduce monthly bills for millions of residents and support the use of electric vehicles and appliances that run on electricity, rather than fossil fuels.The decision by the California Public Utilities Commission will apply to the rates charged by investor-owned utilities, which provide power to about 70 percent of the state. Starting next year, most customers of those companies will be required to pay a $24.15 monthly charge. Low-income customers will pay $6 to $12 a month.Regulators said the revenue from the fixed charge would be paired with a roughly 20 percent reduction in rates assessed by how many kilowatts of energy were used per hour by a home or business. (The average American home uses around 1,000 kilowatt-hours in a month.) California’s residential electric rates, which averaged 31.2 cents per kilowatt-hour in February, are the highest in the country after Hawaii, where rates were about 44 cents, according to the federal Energy Information Administration. The national average in February was 16.1 cents.Some energy experts have argued that California’s high rates for energy use are very likely discouraging some people from buying electric vehicles, heat pumps and induction stoves to replace cars and appliances that run on gasoline and natural gas.“This new billing structure puts us further on the path toward a decarbonized future, while enhancing affordability for low-income customers and those most impacted from climate change-driven heat events,” said Alice Reynolds, president of the utilities commission.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Biden Looks to Thwart Surge of Chinese Imports

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      The president has proposed new barriers to Chinese electric vehicles, steel and other goods that could undermine his manufacturing agenda.President Biden is warning that a new surge of cheap Chinese products poses a threat to American factories. There is little sign of one in official trade data, which show that Chinese steel imports are down sharply from last year and that the gap between what the United States sells to China and what it buys is at a post-pandemic low.But the president’s aides are looking past those numbers and fixating on what they call troubling signs from China and Europe. That includes data showing China’s growing appetite to churn out big-ticket goods like cars and heavy metals at a rate that far exceeds the demand of domestic consumers.China’s lavish subsidies, including loans from state-run banks, have helped sustain companies that might otherwise have folded in a struggling domestic economy. The result is, in many cases, a significant cost advantage for Chinese manufactured goods like steel and electric cars.The U.S. solar industry is already struggling to compete with those Chinese exports. In Europe, the problem is much broader. Chinese exports are washing over the continent, to the chagrin of political leaders and business executives. They could soon pose a threat to some of the American companies that Mr. Biden has tried to bolster with federal grants and tax incentives, much of which comes from his 2022 climate law, U.S. officials warn.In an effort to avoid a similar fate, Mr. Biden has promised new measures to shield steel mills, automakers and other American companies against what he calls trade “cheating” by Beijing.European officials are struggling to counter the import surge, an issue they focused on this week when President Xi Jinping of China visited the continent for the first time in five years. In a meeting on Monday with Mr. Xi and President Emmanuel Macron of France, Ursula von der Leyen, the European Commission president, urged Mr. Xi to address the wave of subsidized exports flowing from his nation’s factories into Western countries.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      In Meeting With Xi, E.U. Leader Takes Tough Line on Ukraine War

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      Ursula Von der Leyen, the European Commission president, pushed Beijing to help rein in Russia’s war in Ukraine after meeting with the Chinese and French leaders in Paris.Ursula von der Leyen, the European Commission president, put pressure Monday on China to help resolve the war in Ukraine, saying Beijing should “use all its influence on Russia to end its war of aggression against Ukraine.”She spoke after accompanying President Emmanuel Macron of France in a meeting with Xi Jinping, the Chinese president, who began his first visit to Europe in five years on Sunday. Ms. von der Leyen has persistently taken a stronger line toward China than has Mr. Macron.With President Vladimir V. Putin of Russia again suggesting he might be prepared to use nuclear weapons in the war in Ukraine, she said Mr. Xi had played “an important role in de-escalating Russia’s irresponsible nuclear threats.” She was confident, Ms. von der Leyen said, that Mr. Xi would “continue to do so against the backdrop of ongoing nuclear threats by Russia.”Whether her appeal would have any impact on Mr. Xi was unclear, and describing the conflict as Russia’s “war of aggression” in Ukraine seemed likely to irk the Chinese leader. Beijing has forged a “no limits” friendship with Russia and provided Moscow with critical support for its military effort, including jet fighter parts, microchips and other dual-use equipment.“More effort is needed to curtail delivery of dual-use goods to Russia that find their way to the battlefield,” Ms. von der Leyen said of China. “And given the existential nature of the threats stemming from this war for both Ukraine and Europe, this does affect E.U.-China relations.”It is relatively unusual for a top European official to describe the war in Ukraine as an “existential threat” to the European continent. Doing so may reflect Mr. Putin’s renewed talk of the use of nuclear weapons.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More