S&P Global estimates that a 25% tariff on Canadian and Mexican imports, along with a 20% tariff on EU and UK light vehicle imports, could negatively impact carmakers, costing them up to 17% of their annual earnings. Some manufacturers might see losses exceeding 30% when considering other financial factors. This could lead to significant financial strain for companies like General Motors and Jaguar Land Rover, who are likely to feel the most severe consequences of these tariff proposals.
Wells Fargo assessed that the proposed tariffs could increase the average price of US-made cars by approximately $2,100 and for vehicles produced entirely in Canada or Mexico, prices may surge by $8,000 to $10,000. This highlights a significant financial burden on consumers, indicating that the cost of buying a new vehicle could become considerably higher, thereby affecting overall market demand.
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