Automakers shipped about three-quarters fewer cars to the U.S. this May than last, according to a new analysis.
Industry publication Automotive News reports, “Maritime import volume for motor vehicles dropped by 72.3% in May compared with the same month a year earlier.” The numbers come from the trade database Descartes Datamyne.
The decrease comes in response to new tariffs raising the prices of cars and car parts.
Jackson Wood, director of industry strategy for global trade intelligence at Descartes Systems Group, told AN, “My read on this is that importers are pausing, hoping that more favorable tariff conditions will emerge in the medium term.”
Read Article