A Honda Motor Co. executive said Wednesday that tariffs on vehicles imported from Mexico into the United States could affect the delivery of thousands of vehicles.
…
A Honda Motor Co. executive said Wednesday that tariffs on auto imports from Mexico into the United States could affect the delivery of thousands of vehicles as the vote is still underway.
A Honda Motor Co. executive said on Wednesday that tariffs on vehicles imported from Mexico into the United States could affect the delivery of thousands of vehicles as the vote is still underway.
Republican candidate Donald Trump, who now looks set to regain the White House, has in the past threatened to impose tough tariffs on passenger cars crossing the Mexican border into the United States.
Combined with his pledge to eliminate EV subsidies provided under the Inflation Reduction Act, it could have an untold impact on global automakers.
Japanese automaker Honda imports about 160,000 vehicles from Mexico to the United States each year, Executive Vice President Shinji Aoyama said during an earnings call on Wednesday.
“If they are subject to tariffs, it will have a big impact,” Aoyama said. “Not just Honda, but also General Motors, Ford and other Japanese automakers.”
Also read: Automakers brace for new tariffs and EV policy changes under President Donald Trump
Executives at Daikin Industries Ltd., one of the world’s largest air conditioner manufacturers, expressed similar views on import tariffs after Trump returns to power.
Honda’s Aoyama said lobbying and moving production to the United States may be considered if tariffs are high. “In the medium to long term, we have to consider this issue.”
Also read: Elon Musk says Tesla’s much-hyped $25,000 electric car makes no sense. that’s why
Toyota Motor Corp., which also reported quarterly earnings on Wednesday, declined to comment directly on the potential impact of a second Trump term on the global auto industry.
Hiroyuki Ueda, Toyota’s head of external affairs, said: “No matter which government or country we deal with, we will strive to be the best automaker we can.”
Get an in-depth look at upcoming cars in India, electric vehicles, upcoming bikes in India and cutting-edge technologies that are changing the automotive landscape.
First published date: November 7, 2024 09:01 AM IST
