• News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Thursday, October 2, 2025
  • Login
Auto Journal Africa
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Ask Autojorunal AI
No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
No Result
View All Result
Morning News
No Result
View All Result
Home News

Here’s how Trump’s tariffs could increase your next car’s price by up to $10,000

David Ijaseun by David Ijaseun
November 30, 2024
in News, Premium
0
Trump tarrifs

Trump tarrifs

1.1k
SHARES
12.7k
VIEWS
Share on FacebookShare on Twitter

American car buyers could face steep price hikes as President-elect Donald Trump prepares sweeping tariffs targeting imports from Mexico, Canada, and Europe. Industry experts warn that the proposed measures could inflate vehicle costs by thousands of dollars, straining household budgets.

A report from S&P Global predicts that tariffs could cut automaker earnings by up to 30% annually. Companies like General Motors, Jaguar Land Rover, Stellantis, and Volvo are expected to be hit hardest, while brands such as Ford and Hyundai may fare slightly better.

READ ALSO

China to tighten EV exports with permit system after 1.65m shipped in 2024

Nigeria’s SiltechWorld makes history with Africa’s first EV export to U.S.

The proposed 25% tariff on Canadian and Mexican imports, combined with a 20% tariff on light vehicles from the EU and UK, could raise the price of US-made cars by $2,100, according to Wells Fargo. Vehicles fully produced in Mexico or Canada might see price increases between $8,000 and $10,000.

Kelley Blue Book data from October shows the average price for a new vehicle in the US is already over $48,600. If implemented, these tariffs could force many buyers to reconsider purchasing new cars, especially as household budgets remain tight.

Industry and Global Reactions

Automakers are bracing for the fallout, with many eyeing potential production cuts or price adjustments. Trump’s planned removal of the $7,500 tax credit for electric vehicles under the Inflation Reduction Act could further dampen EV sales in 2025.

Mexico and Canada have criticized the proposed tariffs. Mexican President Claudia Sheinbaum hinted at retaliatory measures, citing ongoing challenges from US drug and weapons smuggling. Canadian Prime Minister Justin Trudeau argued that the tariffs would hurt not just Canadians but also American consumers and industries.

“The average American family will face higher costs, and businesses will struggle to stay competitive,” Trudeau warned.

The US relies heavily on Mexico and Canada for its automotive supply chain. According to Commerce Department data, the US imported over 2.3 million vehicles from Mexico alone last year. Together, Mexico and Canada accounted for nearly 30% of all US trade through the first three quarters of 2024.

What’s Next?

As the global auto industry braces for tougher conditions in 2025, consumers and policymakers alike will need to weigh the long-term effects of these proposed measures. For now, car buyers may want to prepare for tighter budgets or delayed purchases.

Read more on Trump’s tariffs threaten U.S. car prices, strain auto industry

Tags: Donald TrumpHeadlineLuxury cars

Related Posts

electric vehicles (EVs)
News

China to tighten EV exports with permit system after 1.65m shipped in 2024

September 27, 2025
Siltech World Falcon Elohim bike in USA (4)
Africa

Nigeria’s SiltechWorld makes history with Africa’s first EV export to U.S.

September 24, 2025
Porsche Italia & Ferragamo - 911 and Taycan Models
Business

Investors punish Porsche as EV rollout stalls and profit forecast drops to record low

September 24, 2025
BYD plug-in hybrid electric vehicle (PHEV)
Electric Vehicles

Chinese carmakers outsell Renault, Audi in Europe as plug-in hybrid sales jump 121%

September 24, 2025
Jaguar Land Rover cyberatack
Cars/SUVs

Jaguar Land Rover’s cyberattack shutdown to cost £50 million a week as factories stay closed

September 24, 2025
German self-driving auto indutry [Source Quartz]
Electric Vehicles

Germany’s auto industry risks falling behind in self-driving race

September 22, 2025
Next Post
Car import in Kenya

Kenyan government bans import of cars over eight years old starting 2025

POPULAR NEWS

Inferno at Toyota 1000 Desert Race consumes 49 cars

Inferno at Toyota 1000 Desert Race consumes 49 cars

July 3, 2023
Mobius Motors

Mobius Motors: Rising taxes, competition ends Kenyan SUV maker’s journey

August 7, 2024
Autojournal car race

Get ready for the biggest RACE show this December in Nigeria

August 12, 2024
From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

October 25, 2024
Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

August 22, 2023

EDITOR'S PICK

Rickshaw made in Congo

An overview of the Rickshaw made-in-Congo

January 25, 2023
Lexus LM

Lexus enters chauffeur-driven market with LM

April 24, 2023
Toyota profit in Q1 2025

Toyota Q1 2025 sales rise but profit drops as costs bite, outlook steady

August 12, 2025
Tesla's charging standard [Photo Credit Motor Trend]

Electric vehicles: Honda, Acura adopt Tesla’s charging standard

August 21, 2023

About

Auto Journal Africa is the leading online and print magazine for automobiles in Africa.

Follow us

Recent Posts

  • Uber launches women-only rides in South Africa to boost safety and trust
  • China to tighten EV exports with permit system after 1.65m shipped in 2024
  • Nigeria’s SiltechWorld makes history with Africa’s first EV export to U.S.
  • Investors punish Porsche as EV rollout stalls and profit forecast drops to record low

Links

  • Privacy Policy
  • About Us
  • Contact Us
  • News
  • Reviews
  • Events
  • Tools
  • For Sale

© 2023 Auto Journal

No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa

© 2023 Auto Journal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In