1312 ET - Donald Trump is threatening to put a 25% tax on Mexican imports that could spur sharp price hikes for the automotive industry while cutting into new sales, CarGurus' Kevin Roberts says in a note. The online marketplace for vehicles said in its 2024 report that 19% of new listings at year-end were built in Mexico. A 25% tariff could increase the average price of those Mexican-built cars to $49,600 from $39,700, Roberts says. Volkswagen, Nissan, Stellantis and General Motors are among the automakers with the largest share of inventory built in Mexico, Roberts says. (dean.seal@wsj.com)
(END) Dow Jones Newswires
January 22, 2025 13:12 ET (18:12 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.