STLA

Carvana has acquired seven new vehicle franchises since last year, primarily covering Stellantis brands including Chrysler, Dodge, Jeep, and Ram. The move marks a significant strategic expansion for Carvana beyond its used-car roots into new vehicle retail. This could position Carvana as a broader competitor in the U.S. automotive retail market.

Trump has set a July 4 deadline for the EU to implement the Turnberry trade agreement, under which the US would reduce tariffs on most EU goods to 15% while the EU eliminates tariffs on US industrial and some agricultural goods. Failure to meet the deadline would trigger significantly higher tariffs. Trump offered a temporary reprieve on threatened car tariff hikes following a call with European Commission President von der Leyen, who affirmed both sides remain committed to progress by early July.

Trump announced via Truth Social that he has given the EU a deadline of July 4 (the U.S. 250th birthday) to fulfill the Turnberry trade agreement, threatening an immediate jump to significantly higher tariffs if the deadline is missed. This follows Trump's May 1 announcement raising EU auto tariffs to 25% under Section 232, which the EU disputed. The EU has maintained it is in compliance with the existing agreement, and the situation remains unresolved.

President Trump announced via Truth Social that tariffs on European cars and trucks entering the US will increase to 25% next week, citing insufficient progress on a trade deal. US stocks dipped modestly on the news but remained in positive territory, while the US dollar moved slightly higher. The announcement comes in the context of a Supreme Court ruling that prior tariffs were unconstitutional, with an estimated $160 billion repayment liability.