The reason for this is straightforward: This will cost more than insurance companies to replace damaged car parts that are subject to revenue.
“When you are hit by an accident, your car insurance company is the one that is going to buy these parts to repair your car,” said Dean of the University of Law, who was previously a Ford Motor Company trading lawyer, “Many products are more likely to be imported, and some of them are more pressing.”
Tires are an example. About 80 % of the world’s natural rubber exports come from five countries: Thailand, Indonesia, Ivory Coast, Vietnam and Malaysia. This means that the US -based tire plants will have to pay higher the price of raw materials that they rely on foreign providers to provide.
Many vehicles suffer from many Trump administration’s prices policies. In the auto industry from people who themselves are separated Levies on steel and aluminumFor, for, for,. Taxes on chips And dusking duties On global importsSome of whom is in the White House Temporarily turned back.
The wide international supply chain of the auto industry means that there is no vehicle that is fully made with domestic -made parts. According to the NBC News Analysis of the National Highway Traffic Safety Administration data, 7 out of 10 new cars were collected abroad. And 6 out of 10 are imported into alternate parts, data data American Property accidental insurance association Shown
The abundance of automobile dealers is blowing as consumers try to move beyond Trump’s prices. According to Cox Automoto, the supply of new vehicles daily, a common inventory metric, fell from 91 days to 70 days in early March. The group found that the inventions of used vehicles decreased by 43 to 39 days.
When people hang their vehicles longer, industry experts expect to demand an increase in used vehicles, which can also increase prices in this market.
“If you are working responsible for fish and driving, which is 10 or 15 years old until the wheels fall, the cost of maintenance will increase,” said Edmundus director Ivan Dori.
Experts say the drivers whose insurance policies will be renewed at the end of the year are likely to look at some of the rise in prices first. According to the insurance estimation, the expected additions may vary in terms of state, with New York and Florida designed to see the fastest.
