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GM and Ford reported big sales boosts ahead of Trump's 25% tariff on imported cars. People have been "rushing" to buy ahead of the levies, dealers and economists have told BI.
Will it be blanket tariffs or custom carve-out rates for certain goods from certain countries, or perhaps multi-tiered tariff rates? No one knows.
Mark Fields, Former Ford CEO, joins 'Closing Bell Overtime' to talk the impact of tariffs on car buying.
Automakers including General Motors Co. and Hyundai Motor Co. reported a jump in US auto sales, driven by the threat of price hikes from President Donald Trump's tariffs. Researchers predicted that anxious shoppers would accelerate purchases to avoid potential tariff-related price increases, and March results were particularly strong due to this factor.
Automakers General Motors (GM) and Ford Motor (F) reported first-quarter sales Tuesday as the auto industry braces for the impact of the Trump administration's planned tariffs.
Ten car manufacturers, including BMW and Ford , and two trade bodies have reached a settlement with the UK's competition regulator to pay 77.7 million pounds ($100.43 million) in a fine after admitting to breaking competition law in relation to vehicle recycling, Competition and Markets Authority said on Tuesday.
Ford Motor reported a 1.3% decline in first-quarter US vehicle sales compared to the same period last year, as the industry braces for the impact of new auto tariffs set to take effect this week.
General Motors GM and Ford F have long been rivals in the American auto industry but which one is the better investment today? Or, given economic uncertainty and tariff concerns, is either stock worth buying now?
Ford's first-quarter U.S. sales were off 1.3% compared with a year earlier, largely due to the discontinuation last year of its Ford Edge SUV. The automaker reports its retail sales, which excludes its fleet business, were up 5% year-over-year.
Ford Motor reported a 1.3% drop in first-quarter U.S. sales on Tuesday, hit by the discontinuation of some models and the timing of certain rental fleet sales.