If there is strength in numbers, America’s franchised auto dealers are stronger than ever, as nearly 500 dealers and dealer association executives representing all 50 states gathered in the nation’s capital this week for NADA’s annual Washington Conference and Congressional fly-in.
Center for Automotive Research Study Shows Auto Tariffs Leading to Dramatic Vehicle Price Increases, Job Losses and Economic Consequences
The Center for Automotive Research found that under a 25% tariff on all imports and parts, “consumers would see the price of the typical vehicle sold in the United States rise by $4,400.
In testimony before the U.S. Department of Commerce, NADA President and CEO Peter Welch on Thursday urged the Trump Administration to find ways to address “genuine trade concerns” without imposing auto tariffs that would only hurt American consumers and small businesses.
NADA President and CEO Peter Welch Warns of ‘Serious Unintended Consequences’ of Tariffs on Imported Autos and Parts
“New tariffs on imported autos and parts, if broadly implemented, would hurt the auto industry, and our customers and our economy as a whole,” Welch said in a video released Monday.
Automakers are scrambling to ship vehicles to the United States to pre-empt possible higher tariffs, according to port data, port officials and logistics companies.
German Chancellor Angela Merkel said on Thursday she would back lowering European Union tariffs on U.S. car imports, responding to an offer from Washington to abandon threatened levies on European cars in return for concessions.
NADA’s comments were filed with the Commerce Department in response to proceedings being conducted under section 232 of the Trade Expansion Act of 1962 intended to determine the effects on the national security of imported automobiles, including cars, SUVs, vans and light trucks, and of imported automotive parts.
Two major auto trade groups on Wednesday warned the Trump administration that imposing up to 25 percent tariffs on imported vehicles would cost hundreds of thousands of auto jobs, dramatically hike prices on vehicles and threaten industry spending on self-driving cars.