Latest news with #Mexico-made
Yahoo
6 days ago
- Automotive
- Yahoo
Ford, Hyundai post higher US sales in May on strong SUV, truck demand
By Nathan Gomes and Kalea Hall (Reuters) -U.S. auto sales for Ford Motor and South Korea's Hyundai Motor rose in May, the companies reported on Tuesday, as concerns over potential tariff-related price hikes prompted buyers to act fast on their purchases of cars and SUVs. U.S. President Donald Trump's tariff policies have fueled uncertainty across the auto industry, driving up supply costs, pressuring margins and pushing some automakers to pass the expenses on to consumers. The sales also got a boost from offers and trade-in deals for affordable pickups and crossovers. Ford's overall sales rose to 220,959 units in May from 190,014 units a year ago. The Detroit automaker's F-Series truck sales climbed 15% to 79,817 vehicles during the month. Ford in April extended discounted rates to its customers that are generally reserved for its workers to keep sales moving, although the automaker also hiked prices on three of its Mexico-made products in May. Hyundai also reported an 8% year-on-year rise in U.S. auto sales to 84,521 vehicles in May. The company noticed a pick up in demand in March and April with a "little bit of a rush" from consumers coming in to purchase because they were concerned about potential tariff price increases, Randy Parker, CEO of Hyundai Motor America, said in an interview on Tuesday. But no decisions were made on changing sticker prices for the brand's vehicles as a result of tariffs, Parker added. A price protection program instituted by the automaker in early April ended on June 2 and was not extended. The program guarantees no hikes to sticker prices on new vehicles sold through the period. "This period really marks our regular annual pricing review," Parker said. "We take a look at market dynamics, consumer demand, independent of tariffs." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
26-05-2025
- Business
- Time of India
Trump tariffs hit US consumers: Which major brands are hiking prices?
NEW DELHI: US President Donald Trump's wide-reaching tariff policies are beginning to take a toll on American consumers, with major companies announcing price hikes to counter rising import costs. Trump's administration has imposed a 10% baseline tariff on most imports and a 30% duty on Chinese goods, with some categories, such as steel and aluminum, facing even steeper rates. While a recent temporary deal reduced some tariffs on Chinese products, businesses are still grappling with increased costs and continued uncertainty over future trade policies. Major brands hiking prices amid Trump tariffs A growing number of major brands—including Walmart, Mattel, Ford, and Best Buy—have announced or hinted at price hikes as a direct result of Trump's renewed tariff policies. The sweeping import duties, especially on goods from China, are pushing companies to pass rising costs on to consumers. Walmart: Walmart said on April 15 it would raise prices due to 'high' tariffs on Chinese-made products. CEO Doug McMillon stated that the company would try to keep prices low but acknowledged that 'the magnitude of these tariffs makes it impossible to absorb all the pressure.' Mattel: Mattel the toy giant behind Barbie, revealed plans on May 6 to increase prices, though it aims to keep 40–50% of its products priced under $20. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo CEO Ynon Kreiz said that although nearly half its products will still be priced under $20, others will increase in cost due to tariff pressures. He also called for the removal of tariffs on toys globally. Best Buy: Best Buy warned during its March earnings call that suppliers were increasing prices across product lines, with those costs likely to be passed on to consumers—especially if temporary exemptions for electronics expire. Shein and Temu: Shein and Temu popular Chinese e-commerce platforms, have also raised prices following Trump's move to eliminate the 'de minimis' exemption that spared low-cost imports from tariffs. Temu patio chairs jumped from $61.72 to $70.17, while Shein's swimsuit sets saw a 91% price spike. Ford and Subaru: Imported cars now face a 25% tariff, prompting Ford to raise vehicle prices up to 1.5% in the second half of 2025. Ford also confirmed sticker price hikes for three Mexico-made models. Subaru said it is adjusting prices on several models due to "market conditions." Ralph Lauren, Adidas, Nike: Ralph Lauren plans to increase prices more aggressively than previously planned. Adidas CEO Bjørn Gulden warned that tariffs would 'eventually cause higher costs' across all US product lines. Nike is also set to raise prices starting June 1, though it did not officially link the move to tariffs. As tariffs reshape global supply chains and retail economics, consumers are already beginning to feel the impact at the checkout counter, and the trend may intensify if trade tensions escalate. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
08-05-2025
- Automotive
- Yahoo
Toyota says tariffs will cost it $1.3 billion in 2 months
Toyota Motor (TM) expects its profits to fall 21% this fiscal year due to the repercussions of President Donald Trump's trade war. The automaker forecasts operating income to total 3.8 trillion yen ($26 billion) in the year to March 2026, compared to 4.8 trillion yen in the previous financial year, it announced Thursday. The forecast 'tentatively' includes an estimated U.S. tariff impact of 180 trillion yen ($1.3 billion) for the months of April and May. '[Tariff] negotiations are ongoing at the moment, and the government officials are working hard now, so details of tariffs are still moving,' Chief Financial Officer Yoichi Miyazaki said in a briefing. 'So at this moment, it's very difficult to forecast the future,' he added. Toyota also expects the appreciating yen to dampen consumer demand in the coming year. The forecast adopted the full-year foreign exchange rate assumptions of 145 per yen per U.S. dollar, compared to 153 yen in the previous year, adding that the previously weaker yen had inflated the company's earnings. The president introduced a 25% tariff on the 8 million cars imported into the U.S. annually, on March 29. The wider auto industry has warned of rising retail prices, soaring costs and diminished sales, as a result. On Wednesday, Ford Motor Company (F) said three of its Mexico-made models would cost up to $2,000 more. General Motors (GM) (GM) last week warned that it anticipates up to $5 billion in tariff-related costs. In April, the S&P Global (SPGI) downgraded its 2025 forecast for U.S. vehicle sales by 700,000. But it's also the fast-evolving nature of Trump's trade war which is complicating the company's ability to plan for the future. Indeed, shortly after Trump's sweeping auto tariffs were introduced, he offered some concessions, signing an executive order on April 29 that permits carmakers to offset the tariff when producing auto parts domestically. 'The current environment surrounding the auto industry, including trade relations, is in extreme flux,' Toyota's chief executive, Koji Sato, said. Miyazaki acknowledged that Toyota has 'many customers' in the U.S., and would want to allocate cars accordingly, 'but in the short term, [we] have to look at how we allocate the cars,' indicating the company may push to recoup losses in alternative markets. For the latest news, Facebook, Twitter and Instagram. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Car and Driver
07-05-2025
- Automotive
- Car and Driver
Ford Raising Prices on Three Mexico-Built Models Due to Tariffs
Starting July 5, Ford will officially start raising prices on three Mexico-built models as a result of the Trump administration's tariffs. The raised prices will hit the Bronco Sport, Maverick (pictured above), and Mustang Mach-E, all three of which Ford builds in Mexico. A Ford spokesperson confirmed the news to Car and Driver but also said that the automaker isn't passing the full cost of the tariffs on to customers. Ford will raise prices on three Mexico-made cars as a result of the Trump administration's tariff on vehicles built outside the United States, according to a report from Reuters. A spokesperson from Ford confirmed the news to Car and Driver and said that the increases will affect vehicles built after May 2 but won't go into effect until after July 4. Following the holiday, Ford is planning to sunset its current "From America, For America" employee pricing program, which opens employee pricing to everyone. Ford 2025 Ford Bronco Sport. Prices on the Bronco Sport, Maverick, and Mustang Mach-E, all three of which Ford builds in Mexico, will see increases. The Ford spokesperson said the price hikes are part of the brand's "usual" mid-year pricing changes, "combined with some tariffs we are facing. We have not passed on the full cost of tariffs to our customers." As the price changes don't affect vehicles built before May 2, they shouldn't have an impact on the price of cars already on dealer lots. Ford 2025 Ford Mustang Mach-E. The extent of the price increases isn't totally clear yet. According to the Reuters report, an internal dealer memo reflects price increases as much as $2000, though the report doesn't make it clear which model will see that change. The Ford representative who spoke with Car and Driver referenced smaller changes and pointed to a $600 price hike for the Bronco Sport Heritage as well as a $700 price hike for the Maverick XLT AWD. Jack Fitzgerald Associate News Editor Jack Fitzgerald's love for cars stems from his as yet unshakable addiction to Formula 1. After a brief stint as a detailer for a local dealership group in college, he knew he needed a more permanent way to drive all the new cars he couldn't afford and decided to pursue a career in auto writing. By hounding his college professors at the University of Wisconsin-Milwaukee, he was able to travel Wisconsin seeking out stories in the auto world before landing his dream job at Car and Driver. His new goal is to delay the inevitable demise of his 2010 Volkswagen Golf. Read full bio
Business Insider
04-05-2025
- Automotive
- Business Insider
I drove a $39,000 Mazda CX-30 Turbo. It's like a sports car disguised as a small SUV.
The Mexico-made CX-30 starts at a very reasonable $25,195 for the base non-turbo model. The most affordable turbocharged trim is the 2.5 Carbon Turbo, which starts at $33,140. My range-topping CX-30 2.5 Turbo Premium Plus test car starts at $37,150, making it one of the priciest offerings from a non-luxury brand in the segment. Freight fees and a couple of options pushed the as-tested price to $39,155. Although the CX-30 has been on the market for half a decade, its styling still looks fresh and modern. The CX-30's long flowing lines and organic curves are an evolution of Mazda's Kodo design language, which seeks to express the beauty of nature in motion through a static object. Mazda's designers blended elements from coupes and SUVs together to create the CX-30's sporty silhouette. At 173 inches long, it's one of the shorter vehicles in the segment, trailing the Chevrolet Trax by nearly half a foot. The CX-30 is powered by a 2.5-liter, four-cylinder engine. Pop open the hood of my test car and you'll find a 2.5-liter, turbocharged inline-four-cylinder engine that produces 227 horsepower and 310 lb-ft of torque on regular 87-octane gasoline. Output jumps to 250 horsepower and 320 lb-ft of torque with 93-octane premium gas. Lower-tier models are powered by a naturally aspirated version of the same 2.5-liter engine, which produces 191 horsepower and 186 lb-ft of torque. The base motor's output makes the CX-50 one of the most powerful in the segment, but the turbo engine takes things to a whole different level. It's by far the most powerful motor available in a mass-market subcompact crossover. In fact, you'll have to pony up more than $50,000 for a BMW X1 M35i or a Mercedes-AMG GLA35 to get an SUV of this size with more power. My turbocharged loaner boasts fuel economy figures of 22 mpg city, 30 mpg highway, and 25 mpg combined; the base engine gets four additional mpg in combined driving. All CX-30s come equipped with a six-speed automatic transmission and all-wheel drive. The Mazda drives like it's a sporty hot hatchback in an SUV body. The CX-30 Turbo was an absolute blast to drive, a rarity in the subcompact SUV segment, which is focused on efficiency and affordability. I guess that shouldn't be a surprise for the brand that gave us the Miata and the RX-7. Its steering is crisp and precise, and its well-turned suspension limits body roll into corners, creating a sense of control and stability. The turbo-four and six-speed automatic make for a potent duo, quickly getting the CX-30 up to highway speeds without hesitation. According to Motor Trend, the CX-30 Turbo can do 0-60mph in a brisk 5.8 seconds. My only big complaint is the less-than-cushy ride, but that's the trade-off you make for the sporty handling. Stylish design and premium materials headline the CX-30's cabin. The CX-30 just feels nicer on the inside than many of its competitors. The soft-touch leather upholstery with brown accents and asymmetric design adds a real touch of class and style to the affair. Even better, Mazda backs this up with efficient ergonomics and top-notch fit and finish. The front seats are the place to be. The seats in our previous Mazda test cars were not my favorite. I found them hard and uncomfortable, but the CX-30's heated leather seats were soft and offered good support. The CX-30 is equipped with an impressive array of tech, but it can be cumbersome to use. My test car's optional 10.25-inch touchscreen looks great, but the software behind it makes using it a bit odd. The CX-30's infotainment screen is only a touchscreen when Apple CarPlay or Android Auto, which come standard, are initiated. In all other instances, the system requires the use of the cumbersome rotary controller on the center console. My test car also came with the optional 360-degree camera, color head-up display, and 12-speaker Bose premium sound system. All CX-30s come standard with adaptive cruise control, lane keep assist, and rear cross-traffic alert. The rear cabin feels tight and lacks legroom compared to its rivals. With 36.3 inches of legroom, the CX-30 offers three inches more legroom than the Nissan Kicks, but trails the Chevy Trax by 2.5 inches. Cargo capacity is not the CX-30's strong suit. The CX-30 boasts one of the smallest cargo compartments in the segment, with just 20.2 cubic feet of space behind the rear seats. That's about 20% less space than the rival Chevrolet Trax, Honda HR-V, and Nissan Kicks. The CX-30's cargo compartment expands to 45.2 cubic feet with the rear seats folded down. My Verdict: The Mazda CX-30 is a fun, small SUV that offers performance, style, and luxury in a segment that usually prioritizes utilitarian transportation. I really enjoyed driving the Mazda CX-30. It looks amazing, feels premium, handles great, and has the punchiest engine in the segment. However, it's also a bit short on space, isn't great at carrying cargo, and doesn't get the best fuel economy. Ultimately, the Mazda CX-30 is a story of trade-offs. It forces the consumer to decide what's really important to them. And if the answer is style and driving pleasure, then the CX-30 is the pint-sized SUV for you.
