this is the first look at the assembly plant in ridgeville.s of the vehicle made here, the s-60, just got revealed today. it's a sedan. they will make it only here eventually here and ship it to china and sweden, which is crazy. it's the latest foreign automaker to make cars here in the u.s. a lot of big companies do. toyota makes a lot of cars here. they say quite clearly, you put tariffs on cars going either way, essentially you put a tax on the cars. listen to the ceo of volvo today on fox business network. >> that would mean that we of course have to charge more to consumers. they would be the ones paying 25% duties. so that is not good. we believe in an open trade system. >> the message is, julie, less tariffs, not more tariffs. julie. >> julie: so why would volvo build cars in america and export them to sweden? >> i know. it sounds crazy, doesn't it? but what their strategy is, this is a global company. they want to makes cars where they sell them and centrali production, this is the s-60. they'll only make it here. makes it simpler than

phil lebeau, "nightly business report," ridgeville, south carolina. >>> coming inup, pla a trip for this summer? watch out for travel fraud. 's on the rise and it's costly. >>> sales ofomxisting fell for the second straight month thanks to a shortage of properties on the market. the lack of supply pushed thece median pf a home to an all-time high and while sales fell nationally last month, they are red hot on the tiny island of nantucket. this vacation spot off the coast of massachusetts is seeing record pces amid increasing . demand dye an na olick has more. >> reporter: this 60-year-old home on thedge of nantucket harbor is considered a tear a tear down with a list price of $24 million. that's just how much money is pulling into port on this historic island. the property has been in real estate agent edward sanford's family for decades. >> in the verth high end o market where this house is, buyers don't care about the house. they -- they're looking for the location. we see perfectly good brand-new houses gutted and the -- because the buyer wants his vision. he has the money. >> reporte

ridgeville, south carolina. auto giant, volvo, officially opened its factory in that small town on wednesday for more than 4,000 jobs. but the threat of a 25% tariff on steel is now putting those jobs and south carolina's $27 billion industry at risk. now they could also face china's retaliatory tariffs on auto exports. you were at this opening. what are some of the concerns? creating that auto industry in south carolina was a game changer for the state. >> it's a major, major boom for the economy. yesterday, we spoke directly to the ceo of volvo who expressed serious concerns about the impact these tariffs could have on hiring. he has promised 4,000 jobs to this area. right now, there's only abou about 700 workers in that factory. he says if these tariffs do go through, he may have to break his commitments of hiring the 4,000 he's promised. he's hoping not to do that. fortunately, the workers there at that factory don't share that feeling. they feel very optimistic that their jobs are secure, that volvo's $1.1

that visit will come less than a week after this volvo plant opened in ridgeville.t will create 4,000 jobs but those jobs at this plant could be threatened by a trade war with china. south carolina depends on the automotive industry. it generates 27 billion bucks a year for the state and employs about 66,000 workers. and the top export market is china. nbc's catie beck is live there 35 miles northwest of charleston where the volvo factory just opened. walk us through what residents are saying about this new plant. it has been a very big win for them. i know nikki haley was involved in paving the road to get that plant there. so people are very optimistic. >> yeah, there's a huge ground swell of excitement about this factory opening here. as you said, 4,000 promised jobs to an area that has just 2,000 residents is a major boom to this economy. even the local businesses see that boom. the owner of the lunch diner saying she's already seeing more foot traffic come through the door, had to hire additional personnel to keep up with that and a lot of the foot traffic is t

is opening its first final assembly plant in the united states tod phil lebeau joins us now from ridgevillee has a special guest with him too. phil >> hi, becky the ceo of volvo joining us on a special day here as you open up your final assembly plant here in south carolina. how important is it you finally have a final assembly plant here in the u.s.? >> it's really important i never have any doubts we need this factory it's forced credibility with our partners, retailers. but also we need to come closer to customers to be able to continue growing we know -- need to know how they think and need to know their preference so very crucial to be here finally. >> you made this commitment long before donald trump was elected president. but since he's been elected, obviously the world in terms of auto trade has been turned upside down. you' they're in the heart of dealing with a lot of this how has that changed your approach in terms of global sales and your manufacturing footprint and importing and exporting vehicles >> first of all, we are very glad we have this factory now. otherwise i think we