Ryan Felton
speaker
131 appearances
3 recordings
1 series
first heard May 2022
last heard Nov 2024
Ryan Felton’s voice in public audio — every appearance, attributed to the second.
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Appearances
There's a concern that this could lead to higher prices at a time that prices have already been elevated at record heights for a few years since the pandemic.
Car companies take a very long time to develop and decide what cars they're going to make and sell in a particular marketplace.
When the government is ping-ponging between administrations and deciding
Each time it flips to adjust things like vehicle tailpipe emissions or fuel economy standards, which dictate how many miles a car should go on a single gallon of gas, just makes it much more challenging to settle in on what type of cars to bring to market.
The main thing that comes up time and again is if you charge more on the cost of goods to bring those goods into the country, it's just going to trickle down to the consumers.
There's a concern that among some of the industry that this could lead to higher prices at a time that prices have already been elevated at record heights for decades.
A few years since the pandemic, it's just coming at a time as well when they are trying to figure out how fast to go toward making more electric cars and just kind of throwing another cost on top of that kind of complicates things a bit further.
One of the biggest things and why tariffs coming out of Mexico is probably being considered the most is just there is this looming consideration of Chinese-owned firms setting up shop in Mexico, where if you build a car and then import it over because of the trade pact between the countries, it's not as expensive as if you were to ship the car over from China.
It just leaves open the possibility that these Chinese EV manufacturers, which already produce
Affordable cars can easily build in Mexico and then ship them over to the U.S.
There isn't any signs of any movement on that per se just yet, but that's a leading consideration of what's driving that discussion in particular with Mexico.
The cost of an auto loan right now is high.
Interest rates remain elevated compared to, say, prior to the pandemic, roughly speaking.
It would just be a way to kind of help keep costs a little bit in line for consumers.
So the simple fact is that it would just make it a little bit more easy to stomach, given how high interest has been in the last few years.
At this point, talking to folks last week, they are preparing to make the case to the incoming administration that there is a need for electric cars and that car companies are still going to be moving in that direction no matter what.
Some of the main things, though, that they're going to be kind of lobbying for and discussing relates to tax credits that were passed under federal law a few years ago that provided manufacturers tax credits to build cars.
battery plants in the US and provide customers with tax credits to purchase electric cars, including used cars as well.
So there's just this sort of concerted effort at this point to try to prepare to make a case for keeping these sorts of credits around, which
For the administration, it's something that they can tackle pretty swiftly if they do want to, say, pare them back or get rid of them because it's something that's a pretty direct lever that they're able to pull.
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