03/30/2025

Looming Car Tariffs Have Some Americans Nervous

They are rushing to dealerships to avoid sticker shock

U.S. auto dealerships could see a jump in customer traffic this week as cost-conscious buyers look to avoid a possible uptick in prices and maintenance costs over the next few years, according to industry analysts.

The growing concern over sticker shock has one cause: President Donald Trump's 25% tariffs on imported vehicles and parts, which are expected to take effect Thursday. The tariffs will likely impact the cost of cars built in American factories, too, by thousands of dollars because there is no such thing as an all-American car. All 10.2 million cars built in US factories last year were built with a significant number of imported parts, mainly from Canada and Mexico.

After a surge in car-buying, auto sales can expect to drop while new and used car prices increase, and some models will be eliminated, according to Cox Automotives.

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