Jim Farley, CEO of Ford Motor Company, shares insights on the ongoing impact of President Trump's auto tariffs on the industry. He discusses the surge in car sales driven by buyer anxiety over rising prices. Farley elaborates on Ford's commitment to domestic production amid challenging compliance with trade regulations. He also highlights the balance between maintaining affordability for consumers and the need for stable job growth in a shifting economic landscape.
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Shoppers Rush Before Tariffs Hit
Kira Ney and her family hurried to buy a car fearing tariffs would soon raise prices.
The packed dealership in March reflected broad consumer anxiety about future car costs.
insights INSIGHT
Ford's US Production Advantage
Ford makes 80% of its cars in the U.S. and sources about 75% of parts from USMCA countries.
Parts contain significant U.S. content even when sourced from Mexico or Canada under USMCA rules.
insights INSIGHT
Auto Tariffs to Raise Prices
Tariffs on imported cars will almost certainly increase car prices in the U.S. market.
Imported vehicles face a 25% tariff, translating to $5,000 to $10,000 added per vehicle.
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The Science of Getting from Where You Are to Where You Want to Be
Katy Milkman
In this ground-breaking book, Katy Milkman reveals a proven path to help readers move from where they are to where they want to be. Drawing on her original research and the work of her world-renowned scientific collaborators, Milkman shares strategic methods for identifying and overcoming common barriers to change, such as impulsivity, procrastination, and forgetfulness. The book offers innovative approaches like 'temptation bundling,' using timely reminders, and creating 'set-it-and-forget-it systems' to make change more achievable. It emphasizes the importance of tailoring solutions to specific roadblocks and using science to stack the deck in favor of successful change.
Americans are rushing to car dealerships as they worry about what President Trump's tariffs will do to car prices in the coming months. New vehicle sales have been increasing steadily this year, and they jumped in March, according to market research firm Cox Automotive. That's the month when President Trump announced upcoming auto tariffs.
Shoppers are racing to buy cars this spring because they believe that prices are going to go up in the summer and fall. And experts say if tariffs remain in place, that's likely.
It's a gamble President Trump is making – with the hope his tariff strategy will lead domestic car companies to make more vehicles at home.
NPR's Mary Louise Kelly talks with Ford Motor Company CEO Jim Farley, who was at Ford's Kentucky truck plant, about Trump's tariffs, and Ford's future.
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Consider This from NPR 