Categories

How President Trump's new tariffs could impact auto industry

2 months ago
24 Views
How President Trump's new tariffs could impact auto industry

Consumers like Joel Lee worry these new tariffs could lead manufacturers to make consumers shoulder the costs and price him out of a vehicle.  “One thing I will tell every consumer, if they price it too high, they’re not going to sell a car,” he said.  But Paul Stasiak, President, Niagara Frontier Auto Dealers, says […]

Consumers like Joel Lee worry these new tariffs could lead manufacturers to make consumers shoulder the costs and price him out of a vehicle. 
“One thing I will tell every consumer, if they price it too high, they’re not going to sell a car,” he said. 
But Paul Stasiak, President, Niagara Frontier Auto Dealers, says those in the market need to pump the breaks.
“That’s a lot of money out of people’s pockets, especially when you’re not getting a raise,” he said.
But this year, the show, which concluded Sunday, came at a time when the industry’s future is the part in question.
Stasiak said manufacturers work six months in advance, so consumers have some time before anyone starts to see changes.
“We’re not talking about just today. We’re looking down the road. What’s the president going to do next?” he said. “I’m looking at another car right now, the sticker price that I see now, it’s here. I might have to just go out and buy it and be done with it.”
“This tariff isn’t going to kick in tomorrow, and the sky is going to fall,” he said. “This is not the first time we’ve had tariffs, it’s not the first time they’ve had taxes.”
RELATED: Ontario premier: U.S. liquor products will be removed from shelves in response to Trump’s tariffs
BUFFALO, N.Y. — For over 120 years, the Buffalo Auto Show has remained consistent, showcasing some of the finest vehicles the industry has to offer.
It leaves uncertainties for car manufacturers and consumers, alike.
He says it’s the manufacturers who are going to feel this the most.
Whether the impacts fall on manufacturers or do end up impacting consumers, Lee said he still wants to get ahead of it. 
On Saturday, President Donald Trump announced major tariffs on countries like Mexico and Canada, two of the biggest suppliers to the U.S.’s auto industry — with one in five cars sold in the states being built in the two nations, according to S&P.
Comments

Leave a Reply

Your email address will not be published. Required fields are marked *