Sales of imported cars in the U.S. - by manufacturer 2018
Toyota sold about 18,000 imported cars in the United States in March 2018. In addition to this, Toyota sold some 48,000 imported light trucks in that same month.
Changes to the U.S. import market
The United States imported passenger vehicles to the value of about 192 billion U.S. dollars in 2018. In 2017, car imports were subject to tariff rates of 2.5 percent, while light truck imports were subject to tariff rates of 25 percent. Ahead of looming import tariffs of up to 25 percent on foreign cars that might be imposed by the White House in 2019, the value of passenger vehicle imports could drop significantly. Additional tariffs would severely affect sedans and compact cars imported from Germany, South Korea, and Japan. Recent tariffs on steel and aluminum have already had an impact on domestic automotive manufacturers, and the intended tariffs may further this effect. That said, the proposed tariffs would also include the large quantity of imported car parts. Since motor vehicle part imports are integral to domestic car and light truck manufacturing, the new tariffs would most likely see prices go up for both foreign and domestically produced vehicles. In fact, the U.S. auto industry’s reliance on imported parts may even have an adverse effect on U.S. exports. Over 1.8 million passenger vehicles were exported from the U.S. in 2018, nearly half of which went to China and other countries outside of the NAFTA region. Oddly enough, BMW was the leading U.S. auto exporter in 2018, albeit by value. Its South Carolina manufacturing plant has one of the highest output volumes of BMW plants worldwide.
Changes to the U.S. import market
The United States imported passenger vehicles to the value of about 192 billion U.S. dollars in 2018. In 2017, car imports were subject to tariff rates of 2.5 percent, while light truck imports were subject to tariff rates of 25 percent. Ahead of looming import tariffs of up to 25 percent on foreign cars that might be imposed by the White House in 2019, the value of passenger vehicle imports could drop significantly. Additional tariffs would severely affect sedans and compact cars imported from Germany, South Korea, and Japan. Recent tariffs on steel and aluminum have already had an impact on domestic automotive manufacturers, and the intended tariffs may further this effect. That said, the proposed tariffs would also include the large quantity of imported car parts. Since motor vehicle part imports are integral to domestic car and light truck manufacturing, the new tariffs would most likely see prices go up for both foreign and domestically produced vehicles. In fact, the U.S. auto industry’s reliance on imported parts may even have an adverse effect on U.S. exports. Over 1.8 million passenger vehicles were exported from the U.S. in 2018, nearly half of which went to China and other countries outside of the NAFTA region. Oddly enough, BMW was the leading U.S. auto exporter in 2018, albeit by value. Its South Carolina manufacturing plant has one of the highest output volumes of BMW plants worldwide.
