Good morning! We have officially entered the corporate party season. An etiquette expert shared some useful tips to follow. (Go easy on the alcohol.)

In today’s great story, the resignation of a car manufacturer CEO shows how difficult the year is for the industry.

What’s on deck:

But first, I’m just trying to get out of first gear.

If this has been forwarded to you, register here.

The big story

Steam powered

As dealers look to clear out their lots to make room for next year’s models, automakers are also doing some housekeeping.

Stellantis CEO Carlos Tavares resigned over the weekend as the Jeep and Chrysler owner struggles with declining sales. His accelerated departure – Tavares was due to leave in 2026 – shows how unstable the auto industry remains.

Stellantis’ struggles have been particularly difficult. Tavares’ cost-cutting approach initially helped, but more recently the company’s U.S. sales are down 17% this year compared to last year, writes Business Insider’s Nora Naughton.

The new boss will have lots of problems to solveincluding a legal battle with the United Auto Workers union, writes BI’s Tom Carter.

So what’s holding up the auto industry?

There are three big issues at play here:

The EV problem: Perhaps the biggest problem facing automakers is slowing demand for electric vehicles. Although sales of electric vehicles continue to increase, they are not keeping the same pace as a few years ago. This forced automakers to recalibrate their strategies that predicted the good times for electric vehicles would continue to unfold. Hybrid cars are also making a comebackfurther complicating the plans.

The Chinese problem: As if the electric vehicle market wasn’t tough enough, there’s the added challenge of Chinese competitors are gaining market share. Their economical electric vehicles are proving to be a huge success in the world’s largest auto market (China), much to Tesla’s dismay. They also turned heads Europe’s biggest car show this year. Even Ford CEO Jim Farley admitted this how much he appreciated a Chinese electric vehicle. (It wasn’t exactly a love fest; he also called China’s auto industry an “existential threat.”)

The pricing problem: President-elect Donald Trump’s surprise announcement to impose a 25% tax on goods imported from Mexico is the new obstacle facing automakers. The United States imported more than Last year, auto parts from Mexico cost $65 billion. Tesla also previously announced plans to build a new $10 billion factory in Mexico. Trump’s business plans may not be implemented, but uncertainty weighs on automakers could reconsider their supply chains.

Brief news

Headlines

3 things about the markets

1. Balyasny leads the multistrat giants last month. The Chicago-based fund posted a 3.9% gain in November, bringing its year-to-date performance to 11.6%. See how other top hedge funds are pricing Partners Citadelle, Millennium and Schonfeld successful.
2. What does “dedollarization” mean? President-elect Donald Trump recently threatened countries trying to move away from use the US dollar as a reserve currency. “Dedollarization” involves attempting to reduce dependence on the dollar in cross-border trade and investment, which harms the United States.
3. Explaining BlackRock’s latest major advance in private credit. The massive money manager announced plans to acquire HPS Investment Partners, a private credit giant managing $148 billion, for $12 billion. The deal shows how BlackRock sees big opportunities develop its activity in lucrative private markets.

3 things in technology

1. Elon Musk’s Tesla compensation program is closed again. A Delaware judge has ruled not to reinstate Elon Musk’s $55 billion pay plan, even though shareholders approved it in June. The judge, who previously ruled to void the deal in January, I remained faithful to his previous discovery that Tesla’s board of directors was unduly influenced by Musk when it came to creating his compensation package. Musk wrote that the decision was “totally crazy” and “absolutely corrupt.” in messages on X.
2. Intel is trying to regroup after the surprising departure of its CEO. Intel’s top boss, Pat Gelsinger, has resigned as the US chipmaker seeks to right the ship and reverse a massive fall in its stock price. The company’s interim co-CEOs addressed staff Monday in what one Intel employee described as “damage control.”
3. Exclusive: Amazon plans to speed up work in the cloud by bringing in consultants. Amazon Web Services wants to work with more consulting services, like Accenture, as part of its broader goal of driving growth, according to an internal document. This is a notable change because AWS has already done a lot of work with its customers through internal cloud advisors.

3 things in business

1. The secret to taking some of the guesswork out of buying a home might just lie in Australia. Around a third of homes sold in Australia are sold through auction, giving sellers and buyers a clearer idea of ​​how the winning bid is reached. Some companies try to bring to the United States a version of the approach.
2. Why Netflix could raise prices again – and soon. Some on Wall Street believe the streaming giant will soon raise prices to continue its growth. New survey data from Evercore ISI suggests it has room to do so. Nearly half of those surveyed said they would be more likely to keep Netflix if more live content — like the Jake Paul vs. Mike Tyson fight — was added.
3. How Disney’s ‘Moana 2’ Won at the Box Office. The sequel to the hit 2016 film broke Thanksgiving box office records and grossed $380 million worldwide. Its success was essential to Disney, but none of this would have happened if the company has kept its original plans to make “Moana 2” into a Disney+ series. It’s now Disney’s “most popular IP.”

What’s happening today

• Today is Giving Tuesday, where people around the world celebrate generosity.
• Salesforce reports earnings today after the bell.
• Billboard reveals the best pop star of the 21st century.

The Insider Today team: Dan DeFrancesco, associate editor and presenter, in New York. Grace Lett, editor-in-chief, in Chicago. Ella Hopkins, associate editor, London. Spriha Srivastava, head of the British office, in London. Amanda Yen, comrade, in New York. Milan Sehmbi, comrade, in London.