Car prices face US$3,000 increase on US tariffs

Quick Summary:

TORONTO: President Donald Trump’s tariffs against Canada and Mexico will threaten production at automakers across North America and send record vehicle prices even higher, with about a quarter of a trillion dollars in trade set to be disrupted.

General Motors, the largest US carmaker, has said it wouldn’t move production unless the company can be sure it makes long-term sense.“We are working across our supply chain, logistics network, and assembly plants so that we are prepared to mitigate near-term impacts,” CEO Mary Barra told analysts on Jan 28.“Many of these actions are no cost or low cost.

Automakers in Mexico have been preparing by preemptively importing both more components and vehicles, which may ease the blow in the first few weeks, said Guillermo Rosales, president of the Mexican Association of Automotive Distributors, or AMDA.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaCanadaChinaMexicoUnited States

Topics: Auto Manufacturing Trump /Business/Business News Trade war Tariffs Car

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-04 @ 00:00:00 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 1287 words

Reading Time: 8 minutes read

Sentences: 41 lines

Sentence Length: 32 words per sentence (average)

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Copyright Owner: © The Star

News ID: 25852631

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