Quotes
If you weren’t planning to buy a new car, don’t rush out and buy one just for the heck of it,
Lee explained his point to the Portland Press Herald
My fellow Americans, this is Liberation Day, we've been waiting for a long time,
Trump proclaimed on Wednesday
More tariffs equal more anxiety and uncertainty for American businesses and consumers
David French, the executive vice president of government relations at the National Retail Federation, a US trade body, saidA 25% on automotive imports lasting beyond four to six weeks would likely have a chilling effect on the entire sector as [automakers] need to grapple with significant impact to the bottom line,
Bernstein analyst Daniel Roeska said in a recent note to investors
Our tariffs hurt us as well as other countries. We would be benefited by dispensing with our tariffs even if other countries did not … There are few measures we could take that would do more to promote the cause of freedom at home and abroad.”
Milton Friedman, traditionally an economist highly lauded by conservatives and a Reagan adviser, wrote
We have these tariffs and much of the impact is already priced in, I would say, in stock prices, especially after last week's announcement and prior to that,
Luman told CNBC over video callThe impact will be felt quickly, I would say, in terms of pricing of cars because there is limited stock. There is stock, but not for months and months. There has been some frontloading but after the stock is sold out, prices will be raised, in my view, because the margins are fairly limited,
Luman saidWe only really have one automaker that is immune to this tariff news, which is Renault, because they have no direct exposure to the space, but everybody else is,
he addedWe've got now confirmation that for automakers, there will be a substantial hit with some of the OEMs, notably Porsche AG , Stellantis or Volvo Cars most affected but also names like Mercedes, BMW or Volkswagen impacted,
Besson saidTariffs on imports from Canada are still set to rise on Thursday. Auto tariffs announced last week will still push the average U.S. tariff rate on imports from Canada to about 3.5% from 2.5% by our count,
RBC's Nathan Janzen and Claire Fan saidI think investors will probably react by still reducing their exposure to the sector,
Thomas Besson, head of autos research at Kepler Cheuvreux, told CNBC's "Squawk Box Europe" on ThursdayThe long-awaited U.S. reciprocal tariffs announced have been large and broad-based, but critically exempt Canada and Mexico (at least for now) through CUSMA/USMCA compliant trade,
economists at RBC Capital Markets said in a research note published WednesdayThat increase will still matter, but looks small now compared to dramatically higher tariffs set to be imposed on other countries,
they addedThe cost of vehicles will go up. It’s just math. The bottom line is there is absolutely no vehicle that won’t be impacted by tariffs,
Fields told CNN in a phone interview
Nobody is really talking about where the labor is going to come from,
Fields said_(cropped).jpg)
They have to calculate the cost and return over decades. But it’s hard for them to predict the next 10 minutes right now,
said Sean Tucker, lead editor at auto research firm Kelley Blue BookWe had a tough time getting qualified people who were willing to do this hard, repetitive work on a factory floor. And we saw a lot of attrition from people who said, ‘Wow, this is really hard,’
Fields saidIt’s very intimidating when the president of the United States says, ‘Just suck up the costs and let it hurt your bottom line,
Fields saidIn our view, the price increases will drive demand destruction, particularly as affordability has been a challenge for all buyers,
Bank of America analysts wrote in a note to clients WednesdayThis will exacerbate the need for affordable transportation,
Bank of America analysts wrote