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Chinese Tariffs to Complicate Underwriting, Slow Innovation, Analyst Says

In addition to increasing vehicle prices, the 25% tariffs imposed on Chinese parts and goods by the Trump administration will complicate the underwriting process for lenders and slow down innovation in the auto industry, Jonathan Smoke, chief economist at Cox Automotive, told Auto Finance News. “Americans aren’t suddenly making 10% or 25% more income,” Smoke […]

Tariffs Continue to Rattle Auto Industry

PLANO, Texas — The threat of tariffs on Mexican imports could have lasting implications for new-vehicle prices and vehicle value depreciation, said Cox Automotive’s Chief Economist Jonathan Smoke at the Nonprime Auto Finance Conference yesterday. “Tariffs will be very detrimental to the market, leading to higher prices and fewer vehicles sold — essentially causing the […]

China Announces Tariff Retaliation to Take Effect on June 1

China announced that it will increase tariffs imposed on about $60 billion of U.S. goods in retaliation for President Donald Trump’s latest escalation of the trade war. The tariffs will take effect on June 1, according to a statement on the Ministry of Finance’s website on Monday. The charges will thereby be raised on most […]

Tariffs, NAFTA Uncertainties Threaten Vehicle Sales

WASHINGTON, D.C. — Uncertainty with international tariffs and the North American Free Trade Agreement could have one of the “biggest impacts” on automotive sales, Mike Wall, executive director of automotive analysis at IHS Markit, said at CBA Live. “This industry — especially in North America and the U.S. — has really been predicated on the […]

Trump Wants European Autos BMW, Mercedes to Be Made in America

President Trump has given European auto manufacturers a way to avoid an escalation of the trade war, saying they can avoid tariffs on cars if they build more plants in the U.S. “They have BMW, they have Mercedes, they have a lot of very good cars that come in,” he said in an interview with […]

Mnuchin Signals Chance to End China Tariff War Ahead of Talks

U.S. Treasury Secretary Steven Mnuchin said that if China presents enough trade concessions to President Donald Trump, there is a chance that the administration may seek to lift all tariffs. “Everything is on the table,” Mnuchin said early Tuesday during an interview on Fox Business News “Mornings With Maria” program. The Treasury chief is set […]

Used-Vehicle Values Will Climb in 2019 If Tariff Threat, Rate Hikes Persist 

December auction prices increased 4.3% year over year, bringing the Manheim Used Vehicle Value Index to 137.6, the company announced last week. “Three-year-old vehicles ended the month worth 2% more than they would normally have been worth had typical depreciation occurred instead of the abnormal appreciation observed this summer,” said Manheim Chief Economist Jonathan Smoke. Two main factors that […]

5 Trends to Watch: 2019 Promises to be an Interesting Year

From the January issue: The pace of U.S. growth is expected to slow, according to most economists, who also think interest rates will rise. There is uncertainty about tariffs and, beyond the economic factors, the race between different lenders, dealers, and manufacturers to overhaul products and services is picking up. But perhaps the biggest challenge […]
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