Reported 3 days ago
Goldman Sachs warns that the Trump administration's upcoming 25% tariffs on imported cars and parts could increase car prices by $5,000 to $15,000, affecting both imported and locally made vehicles due to rising production costs. The tariffs, effective from April 3, may cause significant price hikes for popular models in the US market, leading analysts to downgrade earnings estimates for the auto industry. Major automakers like GM and Ford have already seen a drop in their stock prices following the announcement.
Source: YAHOO