The Trump administration is considering slapping auto tariffs on imported vehicles and parts. That means consumers in the market for a new car might want to buy those wheels sooner than later, experts say. Depending on the model, prices for some popular vehicles could jump as much as $7,000 if tariffs under consideration are enacted, estimates show. Meanwhile, although it may be months before Mr. Trump decides on if, when and how to impose auto tariffs, prices are still likely to climb soon because of other factors. That's because interest rates for auto loans are rising along with broader U.S. borrowing rates, and a recent dip in sales could force automakers facing higher costs to push up list prices to preserve profit margins. In the short term, the immediate threat seems to have abated after President Trump and European Commission President Jean-Claude Juncker on Wednesday said they were working to eliminate all tariffs between the trading partners. But success in hammering … [Read more...] about As auto tariffs loom, is now the time to buy a new car?
Updated 4:31 pm PDT, Tuesday, July 3, 2018 Photo: David Zalubowski, AP Image 1of/1 CaptionClose Image 1 of 1 In this Sunday, June 24, 2018, photograph, unsold 2018 Suburbans sit at a Chevrolet dealership in Englewood, Colo. Neither higher gas prices nor rising interest rates could put a damper on U.S. auto sales during the first half of 2018. Sales rose 1.8 percent during the first half of the year, while June sales were up about 5 percent compared with a year earlier, according to Edmunds.com. less In this Sunday, June 24, 2018, photograph, unsold 2018 Suburbans sit at a Chevrolet dealership in Englewood, Colo. Neither higher gas prices nor rising interest rates could put a damper on U.S. auto sales ... more Photo: David Zalubowski, AP Auto sales rise in 1st half, but analysts warn of turbulence 1 / 1 Back to Gallery … [Read more...] about Auto sales rise in 1st half, but analysts warn of turbulence
Paul Egan Detroit Free Press Published 9:27 p.m. UTC Jun 20, 2018 LANSING – The former owner of a Novi automotive shop says no free services were given to a Michigan State Police captain in return for MSP business. Joseph Widak, who was president of Novi Motive until the company's sale in February, also told the Free Press on Tuesday that he has not been questioned about the allegation by police investigators. The Free Press reported Tuesday that Michigan State Police Capt. Monica Yesh is the subject of an internal affairs investigation, opened late in 2015, into allegations she gave favorable treatment to a Taylor towing firm in return for free tickets to sporting events. It's also alleged that Yesh retaliated against lieutenants who did not select the firm, Area Towing. Records obtained under Michigan's Freedom of Information Act show internal affairs is also investigating allegations that Yesh steered MSP business to Novi Motive and had her personal vehicle … [Read more...] about Ex-auto shop owner denies Michigan State Police captain got favors
Keith Laing The Detroit News Published 11:23 p.m. UTC Jun 14, 2018 Washington — President Donald Trump's escalating war of words with Canadian Prime Minister Justin Trudeau over tariffs following the G-7 summit is causing jitters in the U.S. auto industry. At least 1 million new-vehicle sales could be lost annually if cars built in Canada and Mexico are hit with stiff tariffs, according to one forecast. Jeff Schuster, senior vice president of forecasting at LMC Automotive, which forecasts automotive sales, production and powertrain trends, estimates at least 1 million fewer cars and trucks might be sold annually if cars that have been built duty-free in Canada and Mexico under NAFTA are subjected to a 25 percent tax. Schuster said the U.S. auto industry typically has viewed imports as cars that are built outside of the NAFTA nations – the United States, Canada and Mexico. Changing the definition to include Canada and … [Read more...] about Trump, Trudeau tariff tiff rattles auto industry
Q&A: Would Trump's proposed tariffs on imported autos work? Paul Wiseman and Tom Krisher, Ap Business Writers May 24, 2018 Updated: May 24, 2018 3:31pm Photo: Shizuo Kambayashi, AP FILE - In this March 29, 2010 file photo, Japanese automaker Honda Motor Co.'s vehicles for export park at a Yokohama port, near Tokyo, Japan. China and Japan both condemned Thursday, May 24, 2018 the Trump administration's decision to launch an investigation into whether tariffs are needed on imports of vehicles and automotive parts into the United States. FILE - In this March 29, 2010 file photo, Japanese automaker Honda... WASHINGTON (AP) — Do Subaru Foresters, BMW 3-series sedans and Toyota Priuses pose a threat to U.S. national security? President Donald Trump suspects they might. He's ordered the Commerce Department to investigate whether the peril is dire enough to justify tariffs or quotas on imports of foreign-made … [Read more...] about Q&A: Would Trump’s proposed tariffs on imported autos work?