DETROIT — Roughly a third of vehicle production in North America could be cut by next week as a result of President Donald Trump’s 25% tariffs on Mexico and Canada, as automakers attempt to mitigate increased costs and buyers hold off on purchasing new cars and trucks.
That lost production would equate to roughly 20,000 units per day, according to a new analysis from prominent data and forecasting firm S&P Global Mobility.
The production impact as well as possibility of layoffs would continue to grow if the tariffs, which Trump implemented Tuesday, are not changed or lifted.
“We have a new dawn, to a degree. This is a significant move,” Stephanie Brinley, associate director in AutoIntelligence at S&P Global Mobility, said during a webinar with the Automotive Press Association.
S&P Global Mobility reports 25 automakers on average produce 63,900 light-duty passenger vehicles in North America per day. A majority of those, roughly 65%, are assembled in the U.S., followed by 27% in …