US EditionAuto experts say tariffs will push all vehicle prices up
- Tariffs on foreign vehicles are expected to raise U.S. Car prices by $2,000 to $4,000, according to Goldman Sachs.
- A 25 percent tariff on foreign-made vehicles went into effect on April 3, leading to price increases for consumers.
- Consumers are advised to buy vehicles sooner to avoid future price increases related to tariffs and supply issues.
- Experts warn that tariffs could disrupt the economy and lead to a recession in the U.S.
87 Articles
87 Articles
Car dealers move to combat impact of Trump auto tariffs with AI tools
Car dealers are increasingly utilizing artificial intelligence (AI) to navigate the impact of President Donald Trump's tariffs on the auto industry — as customers flock to purchase vehicles before potential price increases.Devin Daly, the co-founder and CEO of Impel, told Fox Business that while tariffs are causing a lot of uncertainty in the sector, the company's conversational AI solutions available to car dealers allow them to glean "unpreced…
Tariffs' impact on used car prices already being felt at dealerships
New car prices could potentially be impacted by tariffs implemented by the Trump administration, but used cars could also be on the rise. Carfax, the company known for its vehicle history reports, also tracks used car values, and the company said prices are already increasing. “Nationally, used van and minivan prices jumped a whopping $800 in March, and Chicago is no exception,” said Em Nguyen, a Carfax spokesperson. “We saw some of the biggest …
Car Insurance Rates Expected to Spike 10% in Some States—And Tariffs Could Make It Worse
There is no shortage of costs when it comes to car ownership. But even if you’ve managed to lower your monthly payments and stay on top of important maintenance to avoid a catastrophic breakdown, the one unavoidable ongoing cost is car insurance. Of course, balancing these costs within your budget can be difficult even in the most stable of times. But with significant tariffs looming, experts are now warning that car insurance rates could be one…
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