Toyota unveiled new models like the RAV4 and updated bZ during a press conference, however, they also warned about the adverse effects of tariffs on prices. Mark Templin, the COO, expressed concerns over the reliance on imports for half of their U.S. sales, calling this situation unsustainable. While Toyota has a strong manufacturing presence in the U.S., it still imports many components from Japan, Canada, and Mexico, which makes them vulnerable to the recent tariff increases on both complete vehicles and parts, affecting overall pricing and accessibility for American consumers.
Toyota's executives are alarmed that current tariffs can dangerously escalate car prices in the U.S., potentially placing their vehicles beyond consumers' reach.
Mark Templin cautioned about the sustainability of relying on imports for half of their U.S. sales, reflecting deep concerns regarding the tariffs' impacts.
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