President Trump’s announcement of forthcoming tariffs on automobiles has led to a rush of consumers heading to dealerships to buy cars before the levies go into effect on April 2. The 25% tariff rate on vehicles and auto parts imported into the U.S. has stirred concerns about higher costs for both manufacturers and consumers. Experts suggest that now is the best time for those in the market for new vehicles to make a purchase to avoid paying thousands of dollars more under the tariffs.
Ford reported a 5% increase in retail sales in the first quarter, with a significant surge in March, potentially due to the anticipated price increases. Consumers, like Burlington-based artist Val Hird, have scrambled to secure deals on vehicles before the tariffs take effect. Hird opted for a pre-owned Toyota hybrid to avoid potential price hikes. Dealerships are noticing consumers taking the tariffs into account during their car-buying conversations and are advising consumers to act fast to secure the best prices.
Analysts warn that car prices are likely to rise once the tariffs go into effect, emphasizing the importance of acting now for cost-conscious buyers who may be priced out of the market. With existing inventory not subject to tariffs, consumers are encouraged to negotiate prices and make their purchases sooner rather than later to avoid the impact of the levies. The advice from industry experts is clear: if you need a car and can afford it, now is the time to buy.
