New 25 percent duties that are going to introduce US President Donald Trump regarding products from Mexico and Canada will greatly affect the market. Last year, about three million new cars were imported from these countries. Volkswagen, Stellantis, Nissan and Honda, as well as General Motors, say most of all, experts say.
Last year, 16.1 million new cars were sold in the United States. About 9.9 million of them, or 61 percent, were released in the United States. The rest is imported: about 2.2 million were brought from Mexico (13.6 percent of the market), and growth for the year amounted to significant 13 percent.
The duties will hit the Volkswagen most strongly, which produces 44 percent of cars sold in the United States in Mexico. Tariffs will force you to increase prices, which will have a bad effect on sales, as Mexican cars perform in the budget segment, and their buyers cannot afford to overpay. Perhaps Volkswagen will have to transfer production to the United States or redirect the flow of machines from Mexico to another market.
Also at the risk zone Stellantis: more than 40 percent of the concern’s cars come to the United States from Mexico or Canada. Nissan imports more than 30 percent of cars from Mexico, and Toyota carries 25 percent of its products from these countries.
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The American giant General Motors will also suffer, which in 2024 gathered 18 percent of cars at Mexican factories.
The introduction of 25 percent duties for Mexico and Canada and 10 percent for China was paused until the beginning of March. Analysts believe that subsequently Trump will introduce duties on cars from the European Union.
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