Stellantis Extends Employee Discounts to Public Amid Auto Industry Challenges
Stellantis, a major player in the automotive industry, has announced the extension of its employee discount program to the general public until 2025. This strategic move comes in response to recent challenges within the auto sector, including the cancellation of electric vehicle (EV) factories and the looming threat of tariffs on imported vehicles proposed by former President Donald Trump.
The decision to offer these discounts is seen as an effort to boost car sales amidst a backdrop of economic uncertainty and shifting market dynamics. The automotive industry is currently facing a critical juncture, with companies like Ford also rolling out similar discount strategies to mitigate the impact of potential tariffs.
Recent reports have highlighted the cancellation of several EV factories, signaling a slowdown in the push towards electric vehicles. This development, coupled with the proposed tariffs, has created a complex environment for auto manufacturers. Stellantis's initiative aims to make vehicles more affordable and accessible to consumers, potentially stimulating demand in a challenging market.
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What is the history of tariffs?
Tariffs and excise taxes were authorized by the United States Constitution and recommended by the first United States Secretary of the Treasury, Alexander Hamilton in 1789 to tax foreign imports and set up low excise taxes on whiskey and a few other products to provide the Federal Government with enough money to pay ...
Does Ford give employee discounts?
Ford Motor on Thursday announced that it would allow car shoppers to buy its 2024-25 vehicles, including gas, electric and hybrid-powered models, at the discounted price the automaker offers to its employees.
When do the car tariffs go into effect?
The update of Trump's auto tariff proclamation from last week included nearly 150 auto parts categories that will face tariffs starting on May 3, a month after Thursday's midnight activation of 25% tariffs on vehicle imports.
Will Ford trucks be affected by tariffs?
Automakers most impacted But Bernstein estimates 57% of the value content in U.S.-assembled vehicles is imported, which means companies such as Ford — the No. 1 U.S. producer of cars and trucks — are still set to be significantly impacted by the tariffs.
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