CA, US & World
New Auto Tariffs Could Raise Car Prices by Thousands, Dealers and Buyers React
Car dealerships across the country are bracing for a major price hike as 25% tariffs on imported cars and auto parts are set to take effect in just a few days.
The new tariffs, part of President Trump’s trade strategy, are expected to have a widespread impact on both foreign and domestic vehicles. While cars made entirely in the U.S. are not subject to the tariffs, nearly half of all vehicles sold in the U.S. and 60% of auto parts are imported — meaning even American-made cars could see price spikes due to increased parts costs.
Goldman Sachs estimates the tariffs could add $5,000 to $15,000 to the cost of foreign-made vehicles and $3,000 to $8,000 to U.S.-assembled cars that rely on imported parts.
Dealers like George Glassman, who owns several franchises in Michigan, say phones are ringing nonstop. “Customers are concerned. They want to get a deal before the tariffs kick in.”
While some believe the tariffs will help bring back manufacturing jobs to the U.S., industry experts warn that retooling factories is slow, expensive, and unlikely to result in a fully domestic supply chain.
Canada, meanwhile, is pushing back. Prime Minister Justin Trudeau called the U.S. “no longer a reliable partner” and warned of forceful retaliation. Canadian-funded billboards in cities like Miami are urging Americans to remember: “Tariffs are a tax on your grocery bill.”
Explore: NBCPalmSprings.com, where we are connecting the Valley.
By: NBC Palm Springs
March 28, 2025
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