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Automotive News: Dealers fear tariffs will lower profits, force job cuts

A 25 percent tariff on imported vehicles could chill new-car sales, devastate dealership profits and trigger job losses at stores, dealers and their advocates say. That prospect has U.S. auto dealers nervously awaiting a Trump administration verdict that could jolt dealership bottom lines.

Up to 2 million new-vehicle sales could be lost, and sticker prices would skyrocket if the tariffs go into effect, forecasters say. It could price many consumers out of the new-vehicle market and ultimately result in fewer vehicle choices, leading to less traffic on dealership lots — a message dealer trade groups are lobbying hard to get through to the White House.

Read more at http://www.autonews.com/article/20180702/RETAIL07/180709967/tariffs-auto-dealers-lower-profits