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Hyundai Tells Dealers To Brace For Tariff Impacts
- Hyundai is warning U.S. dealers about potential price increases due to tariffs, set to go into effect soon.
- The 25% tariffs on imported autos could impact future wholesale car prices, urging dealers to prepare for cost implications.
- Even for cars produced domestically, foreign parts could be subject to tariffs, potentially adding $3,000 to $6,000 to vehicle costs.
- The uncertainty around tariffs is a major concern for dealers, automakers, and consumers alike.
- U.S. consumers may start feeling the impact of auto tariffs as early as May, with potential price hikes expected across the industry.
- Economists warn that a 25% tariff will lead to higher vehicle prices and put pressure on the auto industry's profit margins.
- The industry is anticipating price increases between 11% and 12%, affecting both domestic and imported vehicles.
- Elon Musk is preparing to step away from his involvement in the Department of Government Efficiency (DOGE), raising questions about Tesla's future.
- Tesla's market share in the EV segment has been slipping, facing challenges in retaining market position and brand appeal.
- There are concerns about Tesla's brand perception and whether separation from Musk's political involvement could benefit the company.
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