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Trump tariffs: 39 cars and trucks built in China and Mexico that are likely to get more expensive

Red semi-truck carrying Toyota pickup trucks waits in line to cross the US-Mexico border
Tariffs on imported cars and trucks are likely to increase prices for US consumers, trade groups and experts warned.

GUILLERMO ARIAS/AFP via Getty Images

  • Trump's tariffs on Canadian and Mexican imports went into effect Monday night.
  • Automakers rely heavily on a complex supply chain that routinely crosses borders.
  • Industry groups and experts warned of price hikes as a result of the import taxes.

President Donald Trump's tariffs enacted Monday could increase the sticker price of at least 39 car models sold in the US.

The tariffs affect not just foreign automakers but many domestic nameplates, like GM's Chevrolet, as well. An Equinox SUV's transmission may be assembled in the US and shipped to Mexico for final assembly before finally ending up at a lot in Omaha, for example.

Automakers rely on a complex supply chain in which parts and vehicles regularly cross North American borders during the manufacturing process or before they hit dealer lots, thanks to various regional trade agreements inked over the years.

Government data shows 34 models on sale in the US that are imported from either Canada or Mexico, from both domestic and foreign manufacturers.

Experts predict manufacturing costs will rise anywhere from $4,000 to $12,000, with automakers passing much of that cost on to consumers in the form of higher prices. New vehicle prices have skyrocketed since 2020 and now average more than $50,000, according to Edmund's data.

When it comes to vehicles sold in the US, Ford imports the least, making about 78% of those cars, trucks, and SUVs domestically. Mazda, Volkswagen, and Mercedes-Benz import the most, industry data shows.

A trade group representing Ford, GM, and Stellantis said the import costs would stymie American competitiveness, increase consumer prices, and decrease investment in US jobs.

Shares of automakers fell sharply on Monday as Trump said there would be no last-minute reprieve like in February. Ford, GM, and Stellantis are down more than 14% since the November election. Honda is down more than 10%.

Vehicle parts and finished vehicles are the US' top imports from Mexico and second behind oil from Canada. Prices on other vehicles that rely on imported parts could also see increases, even if their final country of assembly is the US.

Here's a look at the models imported for sale in the US and where they are manufactured, according to data from the National Highway Traffic Safety Administration. Prices on other vehicles that rely on imported parts could also increase.

BMW

  • BMW 2-Series Coupe/Convertible (Mexico)
  • BMW M2 Coupe (Mexico)
  • BMW 3-Series Sedan (Mexico)

42.7% of BMW cars sold in the US are made domestically, according to Edmunds data.

Ford

  • Ford Bronco Sport (Mexico)
  • Ford Maverick (Mexico)
  • Ford Mustang Mach-E (Mexico)
  • Ford Mustang GTD (Canada)

78.3% of Ford vehicles sold in the US are made domestically, according to Edmunds data.

General Motors

  • Chevrolet Blazer (Mexico)
  • Chevrolet Blazer EV (Mexico)
  • Chevrolet Equinox (Mexico)
  • Chevrolet Equinox EV (Mexico)
  • GMC Terrain (Mexico)

47.3% of GM vehicles sold in the US are made domestically, according to Edmunds data.

Honda

  • Honda CR-V Hybrid (Canada)
  • Honda Civic Sedan (Canada)
  • Honda HR-V (Mexico)
  • Honda Prologue (Mexico)
  • Acurda ADX (Mexico)

58.9% of Honda vehicles sold in the US are made domestically, according to Edmunds data.

Hyundai

  • Hyundai Tucson (Mexico)

Hyundai makes 38.4% of its vehicles vehicles sold in the US are made domestically, according to Edmunds data.

Kia

  • Kia K4 (Mexico)

Kia is owned by Hyundai.

Mazda

  • Mazda CX-30
  • Mazda3

20.3% of Mazda vehicles sold in the US are made domestically, according to Edmunds data.

Mercedes-Benz

  • Mercedes-Benz GLB (Mexico

36.5% of Mercedes-Benz vehicles sold in the US are made domestically, according to Edmunds data.

Nissan

  • Infiniti QX50 (Mexico)
  • Infiniti QX55 (Mexico)
  • Nissan Sentra (Mexico)
  • Nissan Kicks (Mexico)
  • Nissan Versa (Mexico)

45.6% of Nissan vehicles sold in the US are made domestically, according to Edmunds data.

Stellantis

  • Ram 2500-5500 (Mexico)
  • Ram ProMaster (Mexico)
  • Jeep Compass (Mexico)
  • Chrysler Pacifica (Canada)

    68.2% of Stellantis vehicles sold in the US are made domestically, according to Edmunds data.

Toyota

  • Toyota Tacoma (Mexico)
  • Toyota RAV4/RAV4 Hybrid (Canada)
  • Lexus NX (Canada)
  • Lexus RX (Canada)

44.1% of Toyota vehicles sold in the US are made domestically, according to Edmunds data.

Volkswagen Group

  • Audi Q5/SQ5 (Mexico)
  • VW Jetta (Mexico)
  • VW Taos (Mexico)
  • VW Tiguan(Mexico)

27.8% of Volkswagen Group vehicles sold in the US are made domestically, according to Edmunds data.

Read the original article on Business Insider

Tesla sales drop, showing Elon Musk isn't immune to the EV slowdown

Tesla CEO Elon Musk.
Tesla's fourth-quarter sales for 2024 topped 2023, but full-year sales fell short.

Grzegorz Wajda/SOPA/Getty Images

  • Tesla said on Thursday that it sold about 1.79 million cars in 2024.
  • It's the automaker's first year-over-year decline.
  • Shares fell by about 6% in early trading following the release.

Tesla's annual vehicle sales dropped for the first time in 2024 as it battled industrywide headwinds and increasing competition.

Elon Musk's electric automaker said on Thursday that it sold about 1.79 million cars in 2024, falling just short of the previous year's 1.8 million and rounding out a difficult year for electric vehicles overall.

During the fourth quarter, Tesla delivered 495,570 cars to customers. Analysts polled by Bloomberg had expected about 510,000. Shares fell by about 6% in early trading.

Despite falling short of analysts' expectations, Tesla's fourth-quarter deliveries increased by more than 11,000 vehicles over the same period in 2023.

But sales could get even tougher for Tesla and its competitors. President-elect Donald Trump has promised to end consumer tax credits, which effectively lower vehicle prices by up to $7,500. Sticker prices remain stubbornly high compared with traditional gas-powered options.

Many consumers have turned to hybrids over pure EVs. Hybrids can offer many of the gas savings and environmental benefits for less money and without any lifestyle changes.

Ominous signals in the market haven't shaken Musk, who has repeatedly hyped autonomy as the latest competitive edge for Tesla β€” and said that buying any other car would be a financial mistake.

Tesla has promised an autonomous "Cybercab" and a cheaper car model in the coming year.

Read the original article on Business Insider

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