Automakers Pivot Back to Gasoline Production Amid Uncertainty Over Federal EV Grants
General Motors, Stellantis, and other automakers were initially set to receive federal grants to convert at-risk plants for electric vehicle (EV) production, but with funding uncertain under the Domestic Manufacturing Auto Conversion Grants program, they have shifted back to producing gas-powered vehicles and components. The Department of Energy (DOE) has not finalized decisions on these grants and recently canceled over 300 other financial awards, saving $7.6 billion. GM awaits word on its $500 million grant, while Stellantis’s $585 million applications remain under review. Both companies expressed readiness to cooperate with the DOE once the review process resumes. Meanwhile, supplier ZF North America withdrew its $158 million grant application, citing slower EV adoption and reduced demand for e-Mobility products. GM will continue producing next-generation internal combustion engine (ICE) vehicles, such as the Cadillac CT5 at its Grand River plant, while Stellantis plans to reopen its Belvidere factory for Jeep SUV production and launch a new 4-cylinder engine in Kokomo by 2026. Both automakers emphasize maintaining flexible, multi-energy strategies to meet diverse market demands.
Announcement: 2026 Ford Model Year Order Bank Updates
We are pleased to share the latest updates regarding the 2026 Model Year Order Bank. Below is the current schedule outlining key order opening and closing dates for commercial and retail models. Please review carefully to ensure timely submission of your fleet and retail orders.
October Used-Vehicle Market Shows Seasonal Declines but Stable Demand
The Manheim Used Vehicle Value Index (MUVVI) fell to 202.9 in October, marking a 2.0% drop in wholesale used-vehicle prices from September, with values remaining largely unchanged year over year. Historically, October sees slight gains, so this decline stands out amid seasonal softness. Non-adjusted prices fell 3.7% but are still 0.2% higher than a year ago. Jeremy Robb, Deputy Chief Economist at Cox Automotive, described October as a “spooky” month for wholesale markets, noting it typically brings the year’s highest depreciation as dealers slow activity ahead of winter and new model year (MY26) inventory rises. He added that stronger used retail sales later in the month tightened inventory and slowed depreciation, and with solid demand, tighter supply, and the potential for higher consumer tax refunds next year, depreciation could ease for the remainder of Q4.