Trump's tariffs could make your next car more expensive

[BumRushDaShow]

Source: Yahoo! News/Business Insider

Fri, November 29, 2024 at 4:37 PM EST


President-elect Donald Trump's new tariff proposals could hit American and European carmakers hard — and could push prices up for your next car.

A Friday note by S&P Global estimates a 25% tariff on Canadian and Mexican imports, coupled with a 20% tariff on light vehicle imports from the EU and UK, could cost some carmakers 17% of their annual earnings — and as high as over 30% — before factoring in interest, taxes, depreciation, and amortization.

Higher tariffs could hit General Motors, Jaguar Land Rover, Stellantis, and Volvo hardest, S&P Global said. Meanwhile, BMW, Ford, Hyundai, and Mercedes-Benz may be less impacted. "Donald Trump's re-election will likely intensify the headwinds the global auto industry will face in an already challenging 2025," the authors wrote.

These tariffs could push car prices higher and lead Americans to dig deeper into their wallets for another vehicle. Wells Fargo estimated Wednesday that tariffs could raise the price of cars made in the US by an average of $2,100. For vehicles fully produced in Canada or Mexico, prices in the US may increase between $8,000 and $10,000 higher, Wells Fargo estimated.

Read more: https://www.yahoo.com/news/trumps-tariffs-could-next-car-213742217.html

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Link to S&P Global STATEMENT - Auto industry Buckles Up For Trump's Proposed Tariffs On Car Imports

[tetedur]

1. Repairs on your old vehicle and insurance will go up too.

[wolfie001]

3. Yes! Repair shops know we're between a rock and a hard place

I'm retired and I drive very sparingly. Squeezing every penny. $25,000 and used is the new "normal". Egads. Drive off the sale's lot then start getting it fixed up. That's two monthly payments.

[Stargazer99]

2. The next stupid comment from a Maga that Biden is the cause of inflation is going to get this crap

of them being the cause of inflation

[wolfie001]

4. They'll just make a gap-toothed grin

And then go to Waffle House/Liquor store/shooting range. Same routine since ronnie rayguns.

[Omaha Steve]

5. Chevy Equinox is made in Canada, etc

[doc03]

6. My 2020 Honda CRV was made in Canada, I paid about $30k for it. The same vehicle today

runs about $40k, the tariff would push it to $50k. I was planning on buying a new one this spring, with Trump's
tariffs I may just keep this one. The Honda CRVs are also made in Ohio and Indiana, that may force Honda to
close their Canadian plant.

[RedWhiteBlueIsRacist]

7. Was getting ready to replace my 32 year old truck,

but have changed plans due to the election. Trump is the reason vehicles skyrocketed during his last term. Maybe the auto industry will collapse and die during this go around. Anyway, I have excellent mechanic skills, and have kept my '92 Chevy going all these years ( purchased new). Not in the mood to go in debt during this upcoming clown show.

[Grins]

8. Great! Go for it!!!

And when those prices hit, and when “they” bitch, just say, “Hey! You voted for this.”

Been saying for years that what might finally wake the MAGA up is to actually have them live in the dystopia they wanted. Like so many other things in the lives of conservatives, only when it hits THEM will they come to understand the horror of their desires.