Car, tariffs and Auto sales
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USA TODAY |
President Donald Trump said his new tariffs on automobiles and auto parts will punish other countries for unfair trade practices.
Reuters |
Last week, the carmaker said that U.S. tariffs and any counter-tariffs would have negative consequences for growth and prosperity in the U.S. and other economic areas.
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Automakers with plenty of cars on dealer lots have a time advantage as they hone their strategies for passing on President Donald Trump's 25% tariffs, while Toyota's lean inventories could force it to hike customer prices sooner.
Volkswagen will add an “import fee” to the stickers on its cars that are affected by the 25% vehicle tariff, the German automaker told its dealers. In a memo to retailers Tuesday, VW also said it has temporarily halted rail shipments of vehicles from Mexico,
Romeo Auto Group has grown to 11 dealerships from Kingston to Glens Falls in the last few years. This acquisition marks its first Subaru dealership and second Ford dealership. The Romeos also purchased a Glens Falls Chevy dealership on Dix Avenue from the Whiteman family in December.
They said the tariff cost increase will depend on the car, but based on the brands they supply, at most it will be up to $10,000 on what the same model currently runs for. She said the from the campaign, the dealership saw a 25% increase in car shoppers.