As automakers brace for new tariffs on imports from Mexico and Canada, Ford’s CEO Jim Farley is warning the extra costs would be “devastating.” Farley said the threats are already creating “chaos” and “a lot of costs” for the US auto industry.
So far, however, “what we’re seeing is a lot of cost and a lot of chaos,” Farley added. Ford is looking for ways to build up inventory in the US to soften the blow of Trump’s tariffs.
Although Ford is less exposed than rivals like GM and Jeep maker Stellantis, it is still expected to take a hit from suppliers that will be impacted, executives explained at the event
Source: Electrek: Read The Article
PSR Analysis: The US auto industry is already falling behind China, with China by far the world’s largest EV market, but Chinese leaders, like BYD, are quickly expanding overseas, stealing market share from legacy automakers. These tariffs, and their effects could be the start of the death knell for US legacy car makers. PSR
Guy Youngs is Forecast & Adoption Lead at Power Systems Research
