Latest news with #US-brand
Time of India
5 days ago
- Business
- Time of India
India gains as US tariffs rise: Local firms see export boom
Chief executives of leading homegrown companies including Dixon Technologies , Tata Consumer Products , Blue Star , Havells and Arvind , have told analysts that Indian businesses are at a competitive position in the US tariff scenario and most of them are now flooded with queries for higher business from their US partners. The chief executives said the India-US bilateral trade agreement (BTA) currently being discussed will provide an impetus to business. Dixon managing director Atul Lall told an earnings call last week that the company was expanding capacity for its anchor customer by 50% to meet its increased order book, a large part of it will be for exports to North America in the light of the evolving geopolitical scenario. He said production volume for a large US brand, through its partner Compal, will increase "with potential opportunities for exports." While Lall didn't specify any of the brands, analysts said its anchor customer is Motorola, which exports handsets to the US and the US-brand is Google's Pixel. ET had also reported last month that Google wants to export handsets from India. While US president Donald Trump has asked mobile phone companies like Apple and Samsung to produce locally in the US instead of sourcing from India and other places or face 25% tariff, experts have opined that despite the additional tariff, it will be cheaper for companies to produce in India and export. Leading apparel manufacturer Arvind vice chairman Punit Lalbhai said in the short-term some of its "strategic customers" have seen their cost structures go up, which the company has also absorbed a bit and could lead to a "little bit of margin pressure" in the first and second quarters. He, however, said the company was seeing a jump in volume orders from many of its US customers. Lalbhai said margins will soon normalise and the benefits will flow in the second half of the fiscal year with a robust demand scenario. "This year we should add significant garment volume growth over last year in the textile space. Many of our capacities that we've been investing in are now coming on margin headwinds, but very optimistic growth and demand outlook," he said. The optimism from top CEOs comes at a time when the US has already reduced tariffs on China from 145% to 30% as compared to India's 26%, which is currently on hold. The US has levied only 10% tariff on India and the 26% tariff could be enforced again from July. Another apparel company, Gokaldas Exports , said in its investor presentation that higher tariff on China and political uncertainties in Bangladesh contribute to the overall attractiveness of India as a sourcing destination despite short hiccups. FMCG major Tata Consumer Products CEO Sunil D'Souza said since products like coffee and tea, which it exports to the US, are not produced there and hence "from a competitive scenario, we'll be on even keel with everyone else" and not way off. Havells has just sent its first consignment of Made in India ACs to the US and the management said India will be a beneficiary of the US BTA. BlueStar and Amber Enterprises CEOs said they were receiving a huge number of export enquiries as companies prepared their supply chains for tariff disruptions. Titan Company 's CEO for international business, R Kuruvilla Markose, said the company is tracking competition on price increase in the US and expects the BTA will be signed quickly.
Economic Times
6 days ago
- Business
- Economic Times
India gains as US tariffs rise: Local firms see export boom
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Chief executives of leading homegrown companies including Dixon Technologies Havells and Arvind , have told analysts that Indian businesses are at a competitive position in the US tariff scenario and most of them are now flooded with queries for higher business from their US chief executives said the India-US bilateral trade agreement (BTA) currently being discussed will provide an impetus to managing director Atul Lall told an earnings call last week that the company was expanding capacity for its anchor customer by 50% to meet its increased order book, a large part of it will be for exports to North America in the light of the evolving geopolitical scenario. He said production volume for a large US brand, through its partner Compal, will increase "with potential opportunities for exports."While Lall didn't specify any of the brands, analysts said its anchor customer is Motorola, which exports handsets to the US and the US-brand is Google's had also reported last month that Google wants to export handsets from US president Donald Trump has asked mobile phone companies like Apple and Samsung to produce locally in the US instead of sourcing from India and other places or face 25% tariff, experts have opined that despite the additional tariff, it will be cheaper for companies to produce in India and apparel manufacturer Arvind vice chairman Punit Lalbhai said in the short-term some of its "strategic customers" have seen their cost structures go up, which the company has also absorbed a bit and could lead to a "little bit of margin pressure" in the first and second however, said the company was seeing a jump in volume orders from many of its US said margins will soon normalise and the benefits will flow in the second half of the fiscal year with a robust demand scenario. "This year we should add significant garment volume growth over last year in the textile space. Many of our capacities that we've been investing in are now coming on margin headwinds, but very optimistic growth and demand outlook," he optimism from top CEOs comes at a time when the US has already reduced tariffs on China from 145% to 30% as compared to India's 26%, which is currently on hold. The US has levied only 10% tariff on India and the 26% tariff could be enforced again from apparel company, Gokaldas Exports , said in its investor presentation that higher tariff on China and political uncertainties in Bangladesh contribute to the overall attractiveness of India as a sourcing destination despite short major Tata Consumer Products CEO Sunil D'Souza said since products like coffee and tea, which it exports to the US, are not produced there and hence "from a competitive scenario, we'll be on even keel with everyone else" and not way has just sent its first consignment of Made in India ACs to the US and the management said India will be a beneficiary of the US BTA. BlueStar and Amber Enterprises CEOs said they were receiving a huge number of export enquiries as companies prepared their supply chains for tariff disruptions. Titan Company 's CEO for international business, R Kuruvilla Markose, said the company is tracking competition on price increase in the US and expects the BTA will be signed quickly.
Time of India
6 days ago
- Business
- Time of India
India gains as US tariffs rise: Local firms see export boom
Chief executives of leading homegrown companies including Dixon Technologies , Tata Consumer Products , Blue Star , Havells and Arvind , have told analysts that Indian businesses are at a competitive position in the US tariff scenario and most of them are now flooded with queries for higher business from their US partners. The chief executives said the India-US bilateral trade agreement (BTA) currently being discussed will provide an impetus to business. Dixon managing director Atul Lall told an earnings call last week that the company was expanding capacity for its anchor customer by 50% to meet its increased order book, a large part of it will be for exports to North America in the light of the evolving geopolitical scenario. He said production volume for a large US brand, through its partner Compal, will increase "with potential opportunities for exports." While Lall didn't specify any of the brands, analysts said its anchor customer is Motorola, which exports handsets to the US and the US-brand is Google's Pixel. ET had also reported last month that Google wants to export handsets from India. While US president Donald Trump has asked mobile phone companies like Apple and Samsung to produce locally in the US instead of sourcing from India and other places or face 25% tariff, experts have opined that despite the additional tariff, it will be cheaper for companies to produce in India and export. Leading apparel manufacturer Arvind vice chairman Punit Lalbhai said in the short-term some of its "strategic customers" have seen their cost structures go up, which the company has also absorbed a bit and could lead to a "little bit of margin pressure" in the first and second quarters. He, however, said the company was seeing a jump in volume orders from many of its US customers. Lalbhai said margins will soon normalise and the benefits will flow in the second half of the fiscal year with a robust demand scenario. "This year we should add significant garment volume growth over last year in the textile space. Many of our capacities that we've been investing in are now coming on margin headwinds, but very optimistic growth and demand outlook," he said. The optimism from top CEOs comes at a time when the US has already reduced tariffs on China from 145% to 30% as compared to India's 26%, which is currently on hold. The US has levied only 10% tariff on India and the 26% tariff could be enforced again from July. Another apparel company, Gokaldas Exports , said in its investor presentation that higher tariff on China and political uncertainties in Bangladesh contribute to the overall attractiveness of India as a sourcing destination despite short hiccups. FMCG major Tata Consumer Products CEO Sunil D'Souza said since products like coffee and tea, which it exports to the US, are not produced there and hence "from a competitive scenario, we'll be on even keel with everyone else" and not way off. Havells has just sent its first consignment of Made in India ACs to the US and the management said India will be a beneficiary of the US BTA. BlueStar and Amber Enterprises CEOs said they were receiving a huge number of export enquiries as companies prepared their supply chains for tariff disruptions. Titan Company 's CEO for international business, R Kuruvilla Markose, said the company is tracking competition on price increase in the US and expects the BTA will be signed quickly.
WIRED
10-04-2025
- Automotive
- WIRED
Shopping for an EV or Plug-In Hybrid? Here Are the Ones Built in the US
Donald Trump's import tariffs will put pressure on the EV market. But these US-assembled battery-powered cars may avoid the worst of the price hikes. Photographer:As the United States' wild tariff ride enters its second week, it's still not quite clear how the global realignment of trade policy will affect car prices. What is guaranteed: Things are about to get even more complicated for electrified autos. Many of the most popular battery-electric and plug-in hybrid models are assembled outside of the United States, and so are subject to new 25 percent tariffs as they come over the border. These new fees will apply even to some US-brand cars, which carry American marques but are assembled in factories in Mexico or Canada. For example: The Chrysler Pacifica PHEV gets put together in Canada, and the Ford Mustang Mach-E and Chevrolet Equinox EV are built in Mexico. On the flip side, many foreign auto brands, including BMW, Kia, and Volkswagen, manufacture some battery-powered cars in US factories, which means specific models won't get hit with auto import taxes. Take, for example, the Hyundai Ioniq 5 and the Kia Sportage PHEV, which are built in Georgia. Adding confusion to the whole deal are additional 25 percent auto parts tariffs, due to kick in in early May, and country-specific reciprocal tariffs, which add 10 percent fees to goods made outside US borders, and could go up in July. Major US auto part imports include aluminum wheels from China, tires from Thailand, and wire harnesses from Vietnam, according to data compiled by the consultancy AlixPartners. Critically, the US this week said it would apply reciprocal tariffs to goods made in Mexico and Canada, where some auto suppliers manufacture parts. These had previously been exempted. Plus, it's yet unclear how automakers will choose to deal with these new costs of doing business. Will they spread the costs of import fees throughout their lineups, raising all prices? Try to absorb the tariffs themselves, and ask suppliers to help them? The barrage of new fees adds more uncertainty to an already-uncertain EV industry. Many automakers, including General Motors, Toyota, Ford, and Volvo, had already announced they were pulling back from their ambitious electrification plans even before new tariff announcements brought chaos to global markets and outlooks. The future of US EV and PHEV tax credits are up in the air. Buyer interest in electrified vehicles has also waned. Now the tariffs bring an extra helping of cost challenges to what had already promised to be a difficult transition to electric. In total, some 35 percent of the EVs sold in the US last year were assembled outside of the US, according to an analysis by the research firm BloombergNEF. Going forward, Japanese and European automakers will take the brunt of the tariff heat. All Mazda's EVs, for example, are assembled outside of North America, and most of Toyota's are put together outside the US. Nearly 90 percent of the 34,000 electrics that Mercedes-Benz sold last year were assembled overseas. The bad news for electrics doesn't stop there. The battery pack is the most expensive part of a battery-powered car, and even those batteries assembled in the US contain critical minerals mined or processed elsewhere. The US imported $21 billion in lithium-ion batteries last year, according to a BloombergNEF research report published this week, and 69 percent of those came from China, one of the nations hit hardest by tariffs. Even the most American of car companies, including Tesla and Rivian, will likely see effects from these price hikes, because their vehicles contain battery components from elsewhere. Still, more American-assembled plug-ins are on the horizon. Hyundai opened a new $7.6 billion plant in Georgia last month, and has already started to build electrics and hybrids there. (Affiliate Kia will produce hybrids there too.) After delays, Ford's 'BlueOval City' electric vehicle and battery production campus is slated to open in Tennessee in 2027. Vietnamese EV-maker VinFast plans to construct a factory in North Carolina, though it has been delayed. Volkswagen's all-electric Scout Motors brand is building a factory in South Carolina. Rivian paused development of its Georgia plant amid questions about federal loans, but is now meant to break ground in 2026 and begin production in 2028. Specifically, a handful of US-made electrified vehicles will hit the roads in the coming months and years. Hyundai's three-row electric Ioniq 9 SUV, out of Georgia, will hit dealers' lots in months. Lucid is taking orders for the Gravity SUV, built in Arizona. The all-electric Acura RSX is slated for next year and is assembled at Honda's Ohio plant. Honda also has its Afeela 1, a joint venture with Sony, scheduled for next year, also out of Ohio. The electric Cadillac Celestiq will be hand-built in Warren, Michigan. The wider effects of the tariffs may mean that the next generation of EVs could be more expensive than expected—but many, at least, will be more American. Made in the USA Using data from the National Highway Traffic Safety Administration, WIRED has compiled a list of US-assembled electric and plug-in hybrid vehicles.
Yahoo
27-03-2025
- Automotive
- Yahoo
The reasons why we don't buy American cars
As Donald Trump announces a 25 per cent levy on vehicles not produced in the US, there's a chance that the move could come back to bite him, with a new survey revealing that 59 per cent of motorists are less likely to buy a car from a country imposing tariffs on UK-made models. Trump had previously been moaning about the UK and EU not buying cars from US manufacturers such as Ford, Chrysler and General Motors. He said earlier this month: 'We're not allowed to sell cars there. We sell no cars to Europe... the European Union is very nasty.' Although US-brand cars made up a tiny fraction of the new models sold here last year, there are some good reasons for that low figure that Trump should perhaps understand – not least that a lot of US-made cars won't meet the EU's more stringent safety legislation. In the UK last year, we bought 1,992,578 new cars. Of those, fewer than 3 per cent were from US firms Tesla, Jeep and Chevrolet (although Jeep is owned by European conglomerate Stellantis). Of those, Tesla is the biggest seller, registering 2.6 per cent of UK new car sales. While Audi and BMW each shifted more than twice as many motors to British customers as Tesla, the American brand's Model Y was our fifth-best seller of 2024. Jonathan Saul, an assistant professor in automotive engineering at the University of Warwick, says: 'In terms of US brands breaking into Europe, Tesla is very much an anomaly. 'It has developed the brand and become successful by being unique in the way it makes cars and its customer experience, from selling to charging. If any other US brand was to come to Europe, Tesla is one way to succeed.' Tesla is helped by having a range of UK-appropriate cars, whereas the traditional American manufacturers struggle here. The US best-seller last year was Ford's F series. These pick-up trucks range in size from 5.3m long (17ft) – that's 30cm (11¾in) longer than a Range Rover – to a titanic 6.1m. Engines range from 2.7 to 5.0 litres. None of them holds back when it comes to guzzling fuel. The UK's best-selling car, meanwhile, was the far more appropriate Puma from Ford of Europe. Aside from the blue oval badges on the bonnet, it has little in common with the F Series. America's second-best-selling US-built car was the Chevrolet Silverado, another pick-up leviathan. Its dimensions dwarf the Kia Sportage, the UK's second-best seller, while it consumes about twice the fuel of the Korean SUV. No wonder Trump wants to drill, baby, drill. Of the top 10 best-selling models in the US, five are monster pick-up trucks wholly unsuited to our roads. And even for smaller pick-ups, UK sales are a fraction of those in the US. Our most popular, Isuzu's D-Max, sold a measly 0.2 per cent of the 732,139 F Series models that Ford shifted stateside. Of the top 25 best sellers in the US, only nine are from American brands. Those that aren't pick-ups are SUVs. The Jeep Grand Cherokee in sixth spot is followed by the Equinox and Trax models from Chevrolet, and then Ford's Explorer. Jeep's Grand Cherokee does sell in the UK, but in tiny numbers. That's probably due in part to its £72,304 starting price, as well as competition from the better on-road BMW X5 and better off-road Land Rover Defender. Chevy's Equinox is a rival to the Kia Sportage and Toyota Rav4 that is not sold here. But even in the Equinox's home market, the Rav4 outsells it by more than two to one. The Trax is the Equinox's little brother, so a rival to our fourth-best seller, the Nissan Juke. The Trax is significantly cheaper than the Juke: prices start at £16,444 compared with £23,500 for the Nissan. But if Chevrolet was to sell the Trax here, it would probably be costlier than its Japanese counterpart because its safety features would likely need upgrading to meet UK legislation. The most recent attempt by a US giant to crack the UK was General Motors' (GM) Cadillac at the turn of the century. One GM employee, who asked not to be named, told us it was doomed by lack of investment. 'I think one of the underlying problems was that GM believed the name Cadillac would be enough,' they said. 'The cars themselves weren't too bad. The fit and finish were a bit suspect, but the CTS was spacious, well equipped and well priced. But GM didn't invest in any brand building, promotion or dealerships. One dealer was operating out of a Portakabin. It didn't feel like a serious effort.' Quality problems continue to dog American cars to this day. Teslas are renowned for their finish being as poor as Elon Musk's grasp of the British Constitution. 'I wonder how many current Tesla owners will buy one the second time around?' the GM employee pondered. If Trump wants to understand why we don't want his cars, he needs to look back half a century. In the 1970s you could buy a raft of brand-new US cars in the UK from Cadillac, Pontiac and Ford. The Eldorado and Fleetwood Brougham from Cadillac were a gargantuan 5.6m long, almost twice the length of the original Mini. Ford also sold US-built cars here, despite having an ample line-up specially designed for our roads. The range went from Mustangs (when they were going through an undesirable phase) to monsters such as the 5m-long Fairmont and Mercury Monarch. The firm's 1977 export brochure is titled 'Ford imported cars: the key to a different world'. It certainly was a different world – and one that was as unfavourable to US-built cars as it is today. For a start, there was their size. US cars of the 1970s and 1980s were enormous, thirsty and costly to run. And because the UK charged tariffs on new models, they were too expensive for all but the richest drivers. The American Auto Club's Ian Hadley explains: 'The big old 'land yachts' were made for wider roads than ours and people were often put off by their big engines and them being left-hand drive.' Saul from the University of Warwick adds: 'They [US cars] got a bad press for their build quality and weren't hardy enough for UK conditions. That doomed them. Now it's a very different market. I think we've become more accustomed to the perceived quality of German vehicles and their makers have become expert at building and selling their brands to us.' Trump might think that all US brands have to do is send cars over here and we'll buy them, but British buyers have always proved a bit savvier than that. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
