US EditionToyota says it will maintain operations despite US tariffs
- On March 4, 2025, following the prior Wednesday's announcement of 25% tariffs by U.S. President Donald Trump on cars 'not made in the U.S.,' shares of Toyota, Nissan, and Hyundai fell 9.4%, 9.3%, and 11.2% respectively in the subsequent three sessions.
- The tariffs were announced because the U.S. Imported $474 billion worth of automotive products in 2024, including $220 billion in passenger cars, and Asian automakers generate a major portion of their revenue from North America.
- In 2024, Mexico was the largest exporter of automobiles to the U.S. With 2.5 million vehicles, followed by South Korea with 1.4 million, and Japan with 1.3 million, according to a March 27 S&P Global Mobility report; Toyota sold 1.98 million vehicles in the U.S. And beat Ford in sales volume to take the top spot.
- As of Monday, Toyota had a 16.45% year-to-date loss, Nissan had a nearly 21% drop, Hyundai had losses of nearly 7%, Suzuki had a gain of over 1%, and Richard Kaye of Comgest stated, regarding the impact of tariffs, "do I swallow it or do I ask the consumer to swallow it?".
- Experts like Joe McCabe of AutoForecast Solutions and Richard Kaye suggest that market leaders from Japan and Korea will be significantly impacted because moving factories is not an 'overnight proposition' and will cost billions, however, Suzuki, which does not sell cars in the U.S., will have zero tariff impact, according to Kaye, and Toyota, being the biggest player, may be best-placed to weather the tariffs, although "it's going to hurt.
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11 Articles
Toyota says it will maintain operations despite US tariffs
TOKYO : Toyota will keep running its operations as it has been and focus on bringing down fixed costs, it said on Monday, not expressing any intention to raise vehicle prices in response to U.S. President Donald Trump's tariffs.Japanese domestic media reported earlier on Monday that the world's biggest au
Toyota rules out price increases
Toyota will maintain its operations as it has so far and will focus on reducing fixed costs, the company reported in a statement, in which it did not anticipate any intention of increasing the prices of its vehicles in response to tariffs announced by US President Donald Trump. In 2024, the United States was Toyota’s largest global market, with a volume of 2.3 million vehicles.
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