As automakers announce earnings, Ford reveals that tariffs will raise vehicle prices, including a $2,000 hike for the Mustang Mach-E. The company faces a $1.5 billion loss due to current tariff policies, though some costs are absorbed. Rivian and Lucid also warn of rising prices, projecting increases of thousands for their vehicles. Meanwhile, the EV sector faces challenges, including potential Congressional action against the EV tax credit, which could further diminish consumer incentives amid an increasingly hostile regulatory environment for electric vehicles.
Ford estimates that it will take a $1.5 billion hit from current tariff policy, impacting the pricing of various models, including the Mach-E.
Rivian's CEO shared that he expects vehicle pricing to rise by 'a couple of thousand dollars,' reflecting industry-wide cost increases due to tariffs.
Speaker of the House Brian Johnson indicated that Congress is likely to end the EV tax credit, adding uncertainty to the future of electric vehicles.
Industry analysts posit that Tesla may have the least to lose from current anti-EV policies, potentially gaining from the overall tariff climate.
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