America Is About To Tariff Itself Out Of Its Last Affordable Cars
Cheap cars could disappear if North American trade worsens. US tariffs squeeze already tiny profits on low-priced vehicles. Only 7 % of new cars at the end of last year cost under $30k. Buying a really affordable new car in America is already hard, but it could soon get much harder. Foreign automakers are reportedly warning the Trump administration that low-cost models may disappear entirely if North American trade rules are weakened or tariffs remain in place, according to the Wall Street Journal. Many mainstream brands have already abandoned affordable sedans and hatchbacks. Detroit automakers largely pivoted toward trucks and SUVs years ago, leaving companies like Toyota, Honda, Nissan, and Hyundai carrying much of the budget-car burden. And even they’ve sometimes struggled to make the numbers stack up, leading Nissan to axe the Versa after this year. Related: The Average New Car Costs $50K, So Americans Are Emptying Used Car Lots Models such as the Toyota Corolla...