- Q: What’s the impact of tariffs on vehicle sales in the US?
- A: Tariffs or quotas on imported vehicles and parts will hurt vehicle sales and raise prices of U.S.-built and imported vehicles.
Impact of a 25% Tariff
- Volume of vehicles sold in the US will decrease by 2,000,000 units
- Average price of vehicles sold in the US will increase by $4,400
Impact of a 10% Tariff
- Volume of vehicles sold in the US will decrease by 850,000 units
- Average price of vehicles sold in the US will increase by $1,760
Impact of Quotas
- Volume of vehicles sold in the US will decrease by 1,900,000 units
- Average price of vehicles sold in the US will increase by $4,075
| Reduction in Vehicle Annual Sales Volume in US After Tariff or Quota | |
| 25% Tariff | (2,000,000) |
| 10% Tariff | (885,000) |
| Quota | (1,900,000) |
| Average Increase in Vehicle Prices in US After Tariff or Quota |
|
| 25% Tariff | $4,400.00 |
| 10% Tariff | $1,760.00 |
| Quota | $4,075.00 |
