John Irwin

Welcome to the Daily 5 report for Wednesday, May 3. When a customer at Beaver Toyota in Cumming, Ga., fed her deal sheet into ChatGPT and

High tariff costs and the uncertain future of the USMCA could force automakers to cut back affordable vehicle offerings in the U.S. market, a trade group representing international automakers in the U.S. said.

Vehicles, auto parts, steel, aluminum and USMCA-compliant products would be exempt from new tariffs the Trump administration proposed for 60 major trading partners.

More than 10 Canadian dealerships changed hands in May, as groups of all sizes bolstered their footprints in markets from British Columbia to Quebec.

It's the latest move by an automaker to generate revenue and profits from huge investments in battery manufacturing in anticipation of EV demand that never materialized.

With the major makeover, Chevy sees an opportunity to boost sales of the Silverado, GM's top seller in the U.S., particularly for higher trim levels, executives say.

Camouflaged prototypes of Ford's $30,000 electric pickup are turning heads in California: Automotive News' Michael Martinez breaks down what the footage tells us about Ford's EV ambitions. A peace deal with Iran may be in the works, but don't expect relief at the service counter anytime soon. Plus, RC Lacy Ford-Subaru Business Manager Nicole Lacy talks finance and insurance trends from the dealership floor.

GM Defense and Lockheed Martin signed a memorandum of understanding to explore collaboration on munitions manufacturing, supply chain management and R&D as the Trump administration pushes domestic defense production.

High gasoline prices have pushed buyers away from gas-guzzling trucks faster than GM expected, its North American president said.

The automaker and largest U.S. defense contractor will explore ways to help the U.S. rebuild its weapons stockpiles.