Automakers brace for potential disruptions as President Trump threatens 25% tariffs on imports from Canada and Mexico. Most major automakers in the U.S. rely heavily on imports from Mexico to meet domestic demand. Nearly every top-selling automaker has at least one manufacturing plant in Mexico, contributing to over 70% of U.S. sales in 2024. Analysts warn tariffs could significantly raise vehicle prices, reducing consumer demand. Wells Fargo estimates traditional automakers could lose billions annually. S&P Global Mobility predicts a 25% tariff could add over $6,000 to the cost of a $25,000 vehicle.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Automakers brace for potential disruptions as President Trump threatens a 25% tariff on
00:07imports from Canada and Mexico. Most major automakers in the U.S. rely heavily on imports
00:12from Mexico to meet domestic demand. Nearly every top-selling automaker has at least one
00:18manufacturing plant in Mexico, contributing to over 70% of U.S. sales in 2024. Analysts
00:24warn tariffs could significantly raise vehicle prices, reducing customer demand.
00:29Wells Fargo estimates traditional automakers could lose billions annually. S&P Global Mobility
00:35predicts a 25% tariff could be added over $6,000 to the cost of a $25,000 vehicle.
00:41For all things money, visit Benzinga.com slash GSTV.