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Tag Archives: Trump Tariff Chaos
Volvo Cars to Build XC60 SUV in Ridgeville
Volvo Cars (VOLCAR B:STO) said today it will add its XC60 mid-size SUV to the production line of its US car plant in Ridgeville, South Carolina. The plant also assembles the fully electric EX90. The XC60 is scheduled to start production there in late 2026.
“Adding the XC60 to our Charleston production line will further strengthen its position and attractiveness in the competitive US market, while supporting and creating American manufacturing jobs,” said Håkan Samuelsson, CEO of Volvo Cars. “It is also in line with our ambition to build where we sell and reinforces our long-term commitment to the US market, where we are celebrating our 70th anniversary and have sold over 5 million cars.” Continue reading
Trump Tariffs Hit N.A. Automakers $1.389B
“Tariffs hit North American automakers hard in July,” said Patrick L. Anderson, Principal & CEO of Anderson Economic Group. “The automakers made extensive use of temporary allowances that effectively allowed an exemption for the majority of both parts and vehicles through June. That changed in July for assembled vehicles, and we can expect that these costs will become embedded into the prices consumers are paying in the very near future.” Continue reading →