Economy

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Why tariffs could push car prices even higher (www.cnbc.com)

submitted 1 year ago by lemmy_news@lemmy.wtf to c/economy@lemmy.world

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[–] MapleEngineer@lemmy.world 4 points 1 year ago (1 children)

Not could, will.

The auto manufacturers have already said that they can't absorb a 25% tax. That increase will definitely be passed on to consumers.

[–] verdantbanana@lemmy.world 2 points 1 year ago* (last edited 1 year ago)

Tariffs threaten to raise prices by around $6,000 per vehicle on average, according to Cox Automotive.

and state taxes are rising too into the thousands just a years' worth plus rising insurance costs

maintenance costs are becoming unattainably too high as well

people will be unable to afford to go to work, doctor appointments, school, voting, etcetera