Detroit Automakers Take $50 Billion Hit

The Detroit Big Three - General Motors, Ford and Stellantis - have collectively announced more than $50 billion in write-downs on their electric-vehicle businesses after years of aggressive investment into a transition that, even before Republican lawmakers abolished a $7,500 federal tax credit last fall, was already running below expectations. U.S. EV sales fell more than 30% in the fourth quarter of 2025 once the credit expired in September, and Congress also eliminated federal fuel-efficiency...