American carmakers are hitting speed bumps as tariffs drive up costs—and your next ride could get pricier. 🚨 General Motors, Ford, and Stellantis (think Jeep and Ram) are collectively bleeding billions due to import duties, with GM alone losing $1.1 billion last quarter. Analysts warn these costs could soon shift to consumers, turning the ‘buy now’ window into a countdown. ⏳
Why Your Wallet Might Feel the Squeeze
Most “American-made” cars rely on up to 60% foreign parts, per Bloomberg. With tariffs adding $2,000-$3,000 per vehicle, automakers have eaten costs… for now. But KPMG’s Lenny LaRocca predicts price hikes will rev up early 2024. 🚦 Cox Automotive forecasts average new car prices could soar past $50,000 by December—that’s a Tesla Model Y with extra steps. 🔌
Domestic Production: A Rocky Road Ahead
While the White House pushes for reshoring factories, Bank of America notes it’s cheaper for suppliers to pay 25% tariffs than rebuild stateside. Stellantis’ $350 million loss and Ford’s $3 billion earnings dip by 2025 show the stakes. ⚡️ The takeaway? Buckle up—this economic pothole isn’t going away soon. 🛣️
