qr-play-store play store

New Volvo Factory May Already Be Hurt By Trump Tariffs

26 Jun 2018
No comments
394 views
New Volvo Factory May Already Be Hurt By Trump Tariffs

Volvo had barely savored its new factory in Charleston, South Carolina before newly imposed tariffs threatened its future. This plant was opened to build the all-new S60 sedan as well as the next-generation XC90 SUV. Volvo was set to hire around 4,000 new employees, but Automotive News Europe reports that these plans might be up in the air due to the fear of the tariffs.

 

 

If these tariffs are imposed, it could have a major effect on Volvo’s new factory. Volvo’s CEO Hakan Samuelsson said that if there are trade barriers and restrictions, they won’t be able to create as many jobs as they plan to. Samuelsson explained how tariffs have the potential to cripple foreign automakers. “We want to export and if China and Europe have very high barriers, it would be impossible. Then you have to build the cars there. And then all cars will be more expensive because you have to invest more in tooling and have every model in every country. That’s against the logic of modern economies that trade with each other” he said.

 

 

The S60, built in the US, will be safe form the tariffs. However, S60 cars that are exported to other car markets would be hit. In another interview, Samuelsson compared the auto industry with 25% tariffs to a bad restaurant. “I would have fewer models to choose from and they would cost more. Shorter menu and higher prices – not a very good restaurant”, he said.

0 0
Comments:
No comments found
Leave a comment
  • Jaw-dropping deals this Spring at RepoKar
    27 Feb 2017

    Spring is right around the corner! With melting snow comes rising car sales. Longer days and brighter sunlight mean it’s the season to think about the best used cars for spring; vehicles that allow you to appreciate blue skies, while getting a head start to summer. The sooner you decide on your dream car, the greater the possibility of finding the best deals.  At RepoKar, we want to be sure that you've got everything you need to start the season fresh with a smile on your face. That’s why we’ve prepared amazing, hassle free used cars, trucks, and SUVs for our fr...

    0 2
    125
    1046990 views
  • General Motors to lay off 1,100 workers
    06 Mar 2017

    General Motors promised us other things but that’s how it all turned to be, even if it said it will invest $1 billion in U.S. factories now it announced to temporarily cut off 1,100 workers in May as its Lansing Delta Township assembly plant in Michigan shifts production to Tennessee. Last year it added 800 jobs at its spring hill, Tennessee plant to build the new version of GMC Acadia SUV.  The Lansing plant will continue building the Buick Enclave and Chevrolet Traverse after it retools for a month. GM also has announced other U.S. factory cuts. U.S. President Donald Trump ha...

    0 0
    19
    106427 views
  • Possible Perspective of Chinese Leadership in EV Industry.
    18 Feb 2019

    As you read this article, Chinese investments in the Electric Vehicle industry continue to soar to new heights. China has been the world’s largest EV market for many years, and it has not shown any signs of slowing down. Why is the EV industry booming in China? Repokar is here to give you a clearer picture in regards to this automotive market trend. It's no secret that China is one of the countries with the most polluted air. The Chinese government understands the problem their country is facing, and they are making efforts to improve air quality and reduce the fatality rates. As oi...

    0 1
  • Impress Your Darling Together With Repokar On the Upcoming Valentine's Day!
    07 Feb 2019

    Valentine’s Day is fast approaching, and that means we all want to show our better half how much we love them. Buying your significant other a unique gift is always a romantic gesture. It shows love, affection, effort, and appreciation. Rings, necklaces, and other luxurious trinkets are timeless gifts, but Valentine’s Day is a time for surprises. Give your partner a gift so unexpected that they’ll cherish it for a long time. Keep the love alive and surprise your sweetheart with the gift of car! Go on date nights, road trips, or cruise along the coast in a brand, new car....

    0 1
Search on the blog
Find us on

Last added auctions

2012 Ford ESCAPE
5288 views
19 photos
3,400.00
No bids
2012 Nissan MURANO
5902 views
13 photos
3,500.00
No bids
2000 Honda CR-V
5827 views
12 photos
1,200.00
No bids
2012 Mazda MAZDA3
5285 views
16 photos
2,500.00
No bids