Scenario-Based Passenger Vehicle Sales Forecast Update Under Tariffs 2025
Overview: Effective April 3, 2025, the US implemented a 25% tariff on imported passenger vehicles and light trucks. In addition, the previously scheduled 25% tariff on key automotive components, including engines, transmissions, powertrain parts, and electrical systems, came into effect on May 3, 2025. To cushion the impact on domestic manufacturers, the administration introduced relief measures aimed at supporting US automakers. Given the evolving market conditions, we are revising down our 2025 global passenger vehicle (PV) and electric vehicle (EV) sales forecast from the February update. This downward adjustment reflects a range of potential tariff scenarios and their corresponding macroeconomic implications.
Table of Contents:
- Executive Summary
- Implications
- 2025 PV and EV Market Forecast Scenarios
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Liz Lee
Liz, an Associate Director at Counterpoint Research, has 14+ years of extensive experience in the tech industry. Previously, Liz worked for Samsung SDI focusing on IR (Investor Relations) along with insight-based analysis of emerging tech markets and corporate strategies. She holds an International MBA degree from Waseda Business School.
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