cross-posted from: https://lemmy.ca/post/41346282
Car prices could rise by $5,000 to $15,000 if a 25% tariff on imported cars is maintained, according to Goldman Sachs.
Automakers are likely to pass on the impact of tariffs to customers by raising prices, and that could close the price gap between Tesla’s electric vehicle and competing gas-powered cars, analysts said.
No idea why the big 3 and auto unions aren’t striking or making a scene. Maybe because most of them voted for Trump and are too stubborn to admit they screwed up this bad.
This fucks the big 3 so bad because their whole supply chain is run through Canada Mexico. They along with their suppliers have tens of billions invested in these supply chains. I would argue it is far CHEAPER to replace a president than to re-tool and invest in a ton of new plants that takes 5+ years to plan get approval and execute not to mention the cost of shutting down these other plants and take massive write-offs for those. They should be working to swing the congress back to Dems on the condition they block and revoke Trump’s bullshit tariffs.