Automotive
Taxpayers call on Ford and Trudeau to rule out any additional EV handouts

From the Canadian Taxpayers Federation
Author: Jay Goldberg
“Only politicians and government bureaucrats could think it’s a good idea to blow millions of dollars of taxpayer cash per job to build cars that people don’t want”
The Canadian Taxpayers Federation is calling on the Ford and Trudeau governments to rule out any additional EV manufacturing handouts.
“Canadians are struggling to put gas in their tanks and food on their tables,” said CTF Ontario Director Jay Goldberg. “The last thing governments should be doing is looking at borrowing billions more on the backs of taxpayers to hand over to wealthy auto giants.”
Ontario Economic Development Minister Vic Fedeli says there are as many as three more EV corporate welfare negotiations ongoing, according to the National Post.
The Ford and Trudeau governments have thus far handed out $57 billion in electric vehicle manufacturing subsidies to wealthy auto giants like Volkswagen, Stellantis, Honda and the Ford Motor Company.
Each handout has worked out to cost taxpayers millions of dollars for every job directly created.
Recent news has shown that gambling on EVs is a risky bet for taxpayers.
The Ford Motor Company is losing $132,000 on every electric vehicle sold, according to recent reports. Tesla has missed sales targets, with sales down by more than 13 per cent in the first quarter of 2024. AutoTrader says Canadian interest in EVs is down by 10 per cent compared to last year.
“Only politicians and government bureaucrats could think it’s a good idea to blow millions of dollars of taxpayer cash per job to build cars that people don’t want,” said Goldberg. “Premier Doug Ford and Prime Minister Justin Trudeau need to put down the taxpayer credit card. There must be no more EV handouts, full stop.”
Automotive
Canadians’ Interest in Buying an EV Falls for Third Year in a Row

From Energy Now
Electric vehicle prices fell 7.8 per cent in the last quarter of 2024 year-over-year, according to the AutoTader price index
Fewer Canadians are considering buying an electric vehicle, marking the third year in a row interest has dropped despite lower EV prices, a survey from AutoTrader shows.
Forty-two per cent of survey respondents say they’re considering an EV as their next vehicle, down from 46 per cent last year. In 2022, 68 per cent said they would consider buying an EV.
Meanwhile, 29 per cent of respondents say they would exclusively consider buying an EV — a significant drop from 40 per cent last year.
The report, which surveyed 1,801 people on the AutoTrader website, shows drivers are concerned about reduced government incentives, a lack of infrastructure and long-term costs despite falling prices.
Electric vehicle prices fell 7.8 per cent in the last quarter of 2024 year-over-year, according to the AutoTader price index.
The survey, conducted between Feb. 13 and March 12, shows 68 per cent of non-EV owners say government incentives could influence their decision, while a little over half say incentives increase their confidence in buying an EV.
Automotive
Hyundai moves SUV production to U.S.

MxM News
Quick Hit:
Hyundai is responding swiftly to 47th President Donald Trump’s newly implemented auto tariffs by shifting key vehicle production from Mexico to the U.S. The automaker, heavily reliant on the American market, has formed a specialized task force and committed billions to American manufacturing, highlighting how Trump’s America First economic policies are already impacting global business decisions.
Key Details:
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Hyundai has created a tariffs task force and is relocating Tucson SUV production from Mexico to Alabama.
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Despite a 25% tariff on car imports that began April 3, Hyundai reported a 2% gain in Q1 operating profit and maintained earnings guidance.
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Hyundai and Kia derive one-third of their global sales from the U.S., where two-thirds of their vehicles are imported.
Diving Deeper:
In a direct response to President Trump’s decisive new tariffs on imported automobiles, Hyundai announced Thursday it has mobilized a specialized task force to mitigate the financial impact of the new trade policy and confirmed production shifts of one of its top-selling models to the United States. The move underscores the gravity of the new 25% import tax and the economic leverage wielded by a White House that is now unambiguously prioritizing American industry.
Starting with its popular Tucson SUV, Hyundai is transitioning some manufacturing from Mexico to its Alabama facility. Additional consideration is being given to relocating production away from Seoul for other U.S.-bound vehicles, signaling that the company is bracing for the long-term implications of Trump’s tariffs.
This move comes as the 25% import tax on vehicles went into effect April 3, with a matching tariff on auto parts scheduled to hit May 3. Hyundai, which generates a full third of its global revenue from American consumers, knows it can’t afford to delay action. Notably, U.S. retail sales for Hyundai jumped 11% last quarter, as car buyers rushed to purchase vehicles before prices inevitably climb due to the tariff.
Despite the trade policy, Hyundai reported a 2% uptick in first-quarter operating profit and reaffirmed its earnings projections, indicating confidence in its ability to adapt. Yet the company isn’t taking chances. Ahead of the tariffs, Hyundai stockpiled over three months of inventory in U.S. markets, hoping to blunt the initial shock of the increased import costs.
In a significant show of good faith and commitment to U.S. manufacturing, Hyundai last month pledged a massive $21 billion investment into its new Georgia plant. That announcement was made during a visit to the White House, just days before President Trump unveiled the auto tariff policy — a strategic alignment with a pro-growth, pro-America agenda.
Still, the challenges are substantial. The global auto industry depends on complex, multi-country supply chains, and analysts warn that tariffs will force production costs higher. Hyundai is holding the line on pricing for now, promising to keep current model prices stable through June 2. After that, however, price adjustments are on the table, potentially passing the burden to consumers.
South Korea, which remains one of the largest exporters of automobiles to the U.S., is not standing idle. A South Korean delegation is scheduled to meet with U.S. trade officials in Washington Thursday, marking the start of negotiations that could redefine the two nations’ trade dynamics.
President Trump’s actions represent a sharp pivot from the era of global corporatism that defined trade under the Obama-Biden administration. Hyundai’s swift response proves that when the U.S. government puts its market power to work, foreign companies will move mountains — or at least entire assembly lines — to stay in the game.
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