Jul 31, 2025 | Auto Industry, Detroit, Featured, Tariffs
Mike Musheinesh, owner of Detroit Axle, said the 72.5% tariffs on imported goods have significantly increased costs, forcing the company to pay $725,000 in tariffs for every $1 million worth of goods imported. “There was a possibility of a 40/50% reduction in sales so...
Jul 31, 2025 | Auto Industry, Detroit, Featured, Tariffs
Automotive giant Ford has revealed that import duties imposed by Washington cost the company $800 million (£604million) during the second quarter of 2025, prompting the manufacturer to increase its annual tariff impact forecast to $3billion (£2.2billion). The...
Jul 24, 2025 | Auto Industry, Tariffs, US Economy
The impact of tariffs on the auto industry is no longer theoretical. Auto tariffs are officially limiting the options available to American car buyers. Though the average new price of a car is nearly $49,000, several popular automakers have options in their portfolios...
Jul 24, 2025 | Auto Industry, Featured, Tariffs, US Economy
President Donald Trump’s 25% tariffs on imported vehicles and parts have sent shockwaves through the U.S. auto industry. General Motors (GM) reported a $1.1 billion second-quarter earnings hit, projecting $4 billion to $5 billion in annual...
Jun 26, 2025 | Auto Industry, Tariffs, US Economy
Hyundai’s Montgomery plant has produced just 14 vehicles this month for export to other countries, its lowest number since the beginning of the COVID-19 pandemic when production was temporarily halted. South Korean news agency Yonhap reported the number, which...
Jun 12, 2025 | Auto Industry, Japan, Tariffs
US President Donald Trump’s tariffs threaten to batter Japan’s vital auto industry and derail the country’s long-standing efforts to engineer a sustainable economic recovery. With the 25% US tariff now in place on cars and auto parts, Japan’s major automakers —...
Recent Comments