Toyota Remains Very Bullish on the Overall Market says Toyota North America CEO, Jim Lentz. Toyota’s Lentz is still bullish, but concerned about ‘crazy’ trade implications DETROIT — The trade and tariff environment under U.S. President Donald Trump poses the greatest potential danger to the auto industry, says Toyota North America CEO Jim Lentz. While Toyota remains “very, very bullish” on the overall market, Lentz said “some crazy” potential implications from trade and Trump’s investigation into the national-security impact of car imports “could be devastating to the industry.” Trump’s tariffs on aluminum and steel under Section 232 of the Trade Expansion Act of 1962 have increased the Japanese automaker’s costs by 40 percent, he said. That’s despite more than 90 percent of its steel is sourced from the U.S. “Everybody is seeing cost-push on a per-unit basis of anywhere from $100 to $400, just on steel alone,” he said. ‘New’ NAFTA deal […]
Continue reading