Store Hours
Sun | CLOSED |
Mon | 8:00 am - 5:00 pm |
Tue | 8:00 am - 5:00 pm |
Wed | 8:00 am - 5:00 pm |
Thu | 8:00 am - 5:00 pm |
Fri | 8:00 am - 5:00 pm Open Now |
Sat | CLOSED |
Sun | CLOSED |
Mon | 8:00 am - 5:00 pm |
Tue | 8:00 am - 5:00 pm |
Wed | 8:00 am - 5:00 pm |
Thu | 8:00 am - 5:00 pm |
Fri | 8:00 am - 5:00 pm Open Now |
Sat | CLOSED |
Potential Tariffs Could Hurt Both Manufacturers and Consumers
It's a very tense time in the automotive manufacturing world. Lobbying hard against the proposed tariffs levied by president Trump, companies are scrambling to figure out exactly what they can do if they pass. The tariffs won't be light, either. Looking at numbers between ten and twenty-five percent per car, it could seriously cut into a manufacturer's profits. So deep in many cases that it would make importing unprofitable entirely.
One manufacturer in particular has spoken up lately. Jim Lentz, the CEO of Toyota's North American Operations has stated that they will be forced to reevaluate a large portion of their overall strategy. He further stated that they may have to increase the price of several of their models or simply stop importing them altogether.
A major saving grace for the company is that several of their models are manufactured in the US. The Corolla, Camry, Sienna, and Avalon are produced here, for example. Many popular lines are not, though. These include most of the Lexus line, Prius, Yarus, and RAV-4's.
While some of the models with a higher price point will likely still be available with or without the tariffs in place, it would be a virtual death sentence for those with a smaller profit margin. It simply wouldn't make sense to continue production on models like the Yaris. Either way, Toyota has prepared a contingency plan, with the heads of other foreign manufacturers soon to follow.
We at Mikes Autobody Inc of Pittsburgh, PA strive to provide you with entertaining and informative content.
Written By: Todd Hendrickson
Source: MSN.com
Social