Ford and General Motors have announced they will contribute vehicles and money to President-elect Donald Trump’s inauguration ceremony next month. The pair, along with Toyota, are each donating $1 million alongside Toyota to the event.
It’s not uncommon for presidents to solicit donations for their inaugural celebration. President Joe Biden’s list of 2021 inauguration donors included Google, Microsoft, Boeing, Pfizer, AT&T, Uber, and others. Biden raised about $61 million for the event, which took place during the pandemic. Trump raised $106.7 million for his 2017 inauguration.
The automotive industry could see significant policy changes with the incoming administration. Trump has threatened to impose tariffs on imports from Mexico, Canada, and China, which could affect automakers producing vehicles throughout North America and beyond. There are also reports that Trump plans to kill the federal tax credit for electric cars.
According to the Reuters report, Ford CEO Jim Farley said earlier this month that he believed the Trump administration would be “interested in Ford’s point of view” regarding potential policy changes. GM CEO Mary Barra said a few weeks ago she felt the automaker and the Trump administration were “very goal-aligned.” However, she did admit that there would be changes coming.
Sources:
Reuters, Detroit Free Press
