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.@cargroup just released a new study on the cumulative impact of U.S. trade policy changes on autos and parts on consumer prices, employment, & economic output. Potential #section232 autos & parts tariffs comprise 90% of the impact on consumer prices.
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Average new car prices in the U.S. would go up $2,750.
Imported vehicles price increases $3,700.
Even vehicles made in the U.S. would see prices increase $1,900.
Used car prices & maintenance/repair costs would also increase.
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Imported vehicles price increases $3,700.
Even vehicles made in the U.S. would see prices increase $1,900.
Used car prices & maintenance/repair costs would also increase.
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U.S. light vehicle sales could fall as much as 1.3 million units.
U.S. total employment impact could be as high as 366,900 jobs.
U.S. GDP hit of $30.4B
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U.S. total employment impact could be as high as 366,900 jobs.
U.S. GDP hit of $30.4B
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Dealerships could see $43.6B in lower revenues and 77,000 fewer jobs.
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