Pres. Donald Trump's moves to impose import tariffs and dampen electric vehicle sales and production has all corners of the auto industry in a state of uncertainty.
Auto dealers, manufacturers and customers are watching closely as Pres. Donald Trump threatens to pull the trigger on import tariffs that could add thousands to the cost of certain vehicles and signs executive orders on policies aimed at reducing production and demand for battery-electric vehicles.
The price difference would have a profound effect on a customer’s buying decision, especially in the case of full-size pickup trucks that already carry high sticker prices.President Trump Signs Executive Order To Spark U.S. Crypto Markets “Mexico produces 16% of all vehicles sold in the U.S., while Canada accounts for 7%,” wrote Brian Finkelmeyer, senior director of enterprise insights and advisory at Cox Automotive in. “Not to mention the $200 billion of auto parts made in Mexico and shipped to U.S. assembly plants and repair facilities. A potential 25% tariff would add $50 billion of incremental parts cost from Mexico. These costs would make their way to American consumers, resulting in higher prices.
One example Ku cites is TrueCar’s EV incentive program for Uber drivers. As the rideshare’s EV sales partner TrueCar offers $1,000 checks to drivers who buy a new or used EV through the platform and take 100 trips, according to Ku. “It’s notable that December’s average transaction price for battery electric vehicles was $45,700, while hybrids and gas-powered vehicles combined for an average transaction price of $46,500,” wrote Elizabeth Krear, vice president of the electric vehicle practice at J.D. Power, in a report released Thursday, “BEVs, inclusive of federal tax incentives, transacted $800 less than non-BEVs in December.
Then there’s Trump’s revocation of former Pres. Joe Biden’s non-binding executive order setting a target of EVs accounting for 50% of all vehicle sales by 2030 and ordering a freeze on unspent funds for growing the nation’s recharging infrastructure.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Bidens will host the Trumps for tea after the Trumps snubbed them in 2021For Joe Biden’s inauguration in 2021, Donald and Melania Trump refused to uphold a number of transfer-of-power rituals, including greeting him and Jill Biden at the White House.
Read more »
Why New Year's Resolutions Fall Apart and How Intentions Can HelpThis article explores the common reasons why New Year's resolutions often fail and introduces how focusing on intentions can lead to lasting transformation. It also delves into the power of gratitude, the importance of trust, and the rising influence of spiritual intelligence.
Read more »
Gita Mirchandani on the Power of Positive Intentions in BusinessGita Mirchandani discusses the power of positive intentions in business and their impact on GitaPR's success.
Read more »
A vision board to set powerful intentions and connect with your heart's desires.Create a vision board that helps you set meaningful intentions and inspires you to visualize your goals and aspirations for the year ahead.
Read more »
Squid Game Season 2: Front Man's True Intentions RevealedLee Byung-hun, who portrays the Front Man in Squid Game, sheds light on the character's motives in season 2. While disguised as a player, In-Ho's participation in the games takes an unexpected turn, revealing a more complex and layered personality.
Read more »
Friendly Rivalry: Intrigue and Hidden Intentions in a Battle for Academic SupremacyBased on a popular webtoon, 'Friendly Rivalry' delves into the cutthroat academic world of Chaehwa Girls' High School, where ambition and mystery collide. The drama follows Woo Seul Gi, a transfer student, as she navigates the school's fierce competition and uncovers the hidden ambitions of her classmates. Adding to the intrigue, Seul Gi's father's mysterious death adds another layer to the unfolding narrative.
Read more »