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How Tariffs, Interest Rates Will Shape Car Sales
New trade tariffs have cut the value of automotive shipments 9% in the final five months of 2018, says Gardner Intelligence Chief Economist Michael Guckes.
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New trade tariffs have cut the value of automotive shipments 9% in the final five months of 2018, says Gardner Intelligence Chief Economist Michael Guckes. Yet imports have continued to gain market share in the U.S.
Meanwhile, rising benchmark interest rates have been slowing raising the cost of auto loans for three years. The increase is generating downward pressure on new-car sales.
Guckes says manufacturers who prevail in the evolving auto industry will be those that can successfully apply their preexisting areas of expertise to develop new products.
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