Tariffs on Imports From Mexico and Canada Could Make Cheap Cars Expensive
If you think the cost of goods is expensive now, come January, price tags could appear with some extra weight if the incoming Trump administration follows through with its threat of widespread tariffs.
Not only would items from across the sea be affected but also anything made in Canada and Mexico. Autos, in particular, could see MSRP increases by the thousands.
How much more will be added? Likely, a $3,000 average markup. Maybe that doesn’t seem too high a price for a “Made in North America” label, but the latest numbers from Kelley Blue Book list the average new-vehicle price currently at $48,623. The higher prices could also lead to a drop in U.S. demand, as much as one million units. That means fewer people are needed to work the assembly lines.
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Inspiration Mobility Group Powers Forward with High-Speed EV Charging Stations
By Fleet Management Weekly Staff
As sustainability initiatives and government regulations lead many companies to electrify their fleets, organizations like Inspiration Mobility Group are quickly becoming critical partners in the electrification process.
Inspiration’s EV-first fleet management company helps fleets identify which ICE vehicles are ready to electrify and then leases the EV models best suited. At the same time, Inspiration’s energy business works with fleets to set up the optimal charging solutions for those EVs.
"In addition to our eFMC, which offers EV leasing, fleet management services and electrification planning to businesses, we also have an energy business where we build, own, and operate commercial-grade high-speed charging infrastructure," says the Founder and CEO of Inspiration, Josh Green.
Norway Breaks Another EV Record, Nearly Completing its EV Transition
More good news from EV mecca Norway, with November numbers showing more than 10,000 EVs were newly registered, bringing its tally to a truly impressive 93.6% of all new car registrations, showing that its EV transition is almost complete.
November saw 10,940 new EV registrations, with EVs pretty much on par with October’s numbers (10,862), but significantly higher than November last year, which saw 8,442 new EVs registered in the country, according to a press release from the Norwegian Road Federation.
Of the 11,689 new cars (across all drive types) registered last month, 749 new registrations were non-BEVs, including 154 plug-in hybrids, holding a market share of 1.3%. So looking at it this way, nearly 95% of all new cars had a charging connection.
Study: EV Tax Credit Influenced Many 2024 Buyers
Eighty-seven percent of shoppers who drove home a new electric vehicle (EV) in the U.S. so far in 2024 took advantage of a federal tax credit of up to $7,500, according to a new study.
J.D. Power researchers found that 64% of those who bought or leased a luxury EV “say that tax credits and other incentives were a primary driver of their decision.”
“On average, consumers purchasing or leasing a new EV in 2024 saved $5,124 thanks to federal EV tax incentives,” the researchers write. “That’s up from $4,302 in 2023 and $1,629 in 2022.”
