Automakers fret over impending sales slowdown at New York auto show
More than two dozen new cars, trucks, crossovers and concept vehicles are made their debut at this week's annual auto show in New York, the sort of roll-out that would traditionally be expected to give a boost to the U.S. new car market.
Manufacturers are trying to retain a positive attitude, Fiat Chrysler's U.S. sales director Reid Bigland saying earlier this month that it was a tough first quarter, but"with spring finally starting to show its face and continued strong economic indicators … we are confident that new vehicle sales demand will strengthen going forward."
"Most in the industry have been saying that sales would decline this year," and we're actually seeing that happen," said Brian Smith, the chief operating officer at Hyundai Motor America. Not everyone is convinced the"crossover boom" means the end of the traditional passenger car, however. The cutbacks by companies like Ford and GM"will help us," Jack Hollis, the head of the flagship Toyota division, said in an interview at the New York show. The automaker's own news at the show included the launch of a next-generation Yaris hatchback, as well as a complete makeover of its big Highlander SUV.
If President Donald Trump goes ahead with a threatened 25% tariff on foreign-made cars and car parts, analysts have warned that even American-made vehicles could see big price hikes Toyota previously forecast that would drive up the cost of a Camry sedan assembled in Kentucky by as much as $1,800. But during a conference last week tied to the New York International Auto Show, Carter revised that estimate and warned the midsize sedan could jump in price by as much as $4,000.
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