Automakers, like Ford, introduce programs to offset Trump's tariffs, sparking high demand for vehicles.

From CNBC: 2025-04-05 08:00:00

President Donald Trump’s 25% tariffs on imported vehicles set to take effect has Ford Motor executives scrambling for a response. Ford launches “From America, For America” program offering employee pricing to U.S. consumers to promote U.S. operations and boost sales amid economic uncertainty. Ford stock down 1.4% this week, outperforming rivals Stellantis and General Motors.

Ford’s strategy prompts other automakers to follow suit, with Stellantis and Hyundai Motor announcing similar programs to ease consumer concerns. Ford and Stellantis have high vehicle inventories and reported notable drops in first-quarter vehicle sales. Cox Automotive reports high demand for vehicles as consumers rush to beat tariffs amid fears of price increases.

Cox Automotive estimates new-vehicle sales in March exceed forecasts, marking the best month for sales volume in four years. Automakers see significant sales gains as consumers flock to dealer showrooms to beat tariffs. J.P. Morgan raises odds of a U.S. and global recession to 60% by year-end, prompting automakers to offer incentives now to capitalize on high demand. 1. The stock market saw a significant drop today, with the S&P 500 falling by 2.5% and the Dow Jones Industrial Average dropping by 700 points. This comes amid concerns over rising inflation and interest rates.

2. The latest unemployment report shows a decrease in jobless claims, with 320,000 new claims filed last week. This marks a 10% decrease from the previous week and indicates a positive trend in the labor market.

3. The CDC has issued new guidelines recommending that fully vaccinated individuals wear masks in indoor public spaces in areas with high COVID-19 transmission rates. This decision comes as the Delta variant continues to spread across the country.

4. Tesla announced record-breaking revenue of $11.96 billion for the second quarter of 2021, surpassing analysts’ expectations. The company also reported a net income of $1.14 billion, marking its first quarter with over $1 billion in profit.

5. In international news, tensions are escalating between China and the United States over cybersecurity concerns. The U.S. has accused China of sponsoring cyberattacks on American businesses, prompting a diplomatic response from Beijing. The situation remains volatile as both countries navigate their relationship.



Read more at CNBC: Automakers seek ‘opportunity in the chaos’ of Trump’s tariffs