Did the 'Trump tariffs' deal a heavy blow to the Autos industry? Consulting firms predict that sales in the U.S. and Canada could plummet by 1.8 million vehicles this year.
① The automotive consulting firm Telemetry predicts that if the Global trade war escalates, auto sales in the USA and Canada could drop by 1.8 million units this year, and sales will stagnate over the next decade; ② If tariffs last until 2035, sales of light vehicles in the USA and Canada will be about 7 million units lower compared to a scenario without trade conflicts.
The negative effects of tariffs are beginning to show: imports of Autos from the USA are gradually "stopping," and businesses are reluctant to invest recklessly in the USA.
① The 25% tariff imposed by President Trump on imported cars took effect last week, causing many Auto Manufacturers to suspend deliveries to the USA market; ② Brands such as Jaguar Land Rover, Stellantis, and Audi have announced a halt to exports to the USA or production in North America; ③ The tariff has had a destructive impact in the short term, and many companies have not yet made the decision to increase production capacity in the USA, which may undermine Trump's ambitions for American manufacturing.
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