MS auto group braces for tariffs on imported vehicles, parts
MEMPHIS, Tenn. — A Southaven auto group is preparing for tariffs on imported vehicles and automotive parts that could go into effect on April 3.
The Trump administration announced tariffs affecting imported vehicles and automotive parts could go into effect at the beginning of April.
A tariff is a tax imposed by a government on imported goods and services.
Trump places 25% tariff on imported autos, expecting to raise $100 billion in tax revenues
In response to the possible tax, an auto group is taking immediate action to protect its customers from unexpected costs.
'Well, my first reaction was dismay and my follow-up reaction was uncertainty,' said Kent Ritchey, owner of Landers Auto Group.
Ritchey has been in the auto business for more than 50 years, and when he heard about the tariffs for foreign cars and parts, it reminded him of COVID-19.
MATA deputy CEO fired after investigation into spending
'It was a mad scramble. It's kinda like the days that COVID hit. You don't know what's going to happen and you don't know how you are going to face it,' said Ritchey.
He said that he is staying focused on being proactive rather than reactive by ordering extra car parts over the last 30 days.
The company said in a press release they are also in line to get additional vehicles without any added cost with a promise to offer pre-tariff pricing on anything already in stock or on order.
'Calm employees down, calm customers down that's a normal reaction in any industry right now,' said Ritchey. 'We are positively optimistic.'
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