GREENSBORO, N.C. — The countdown is on. Tariffs on cars and auto parts imported into the u-s are set to begin April 2. Will it impact you, even if you aren’t in the market for a car? The short answer is….yes.
WHAT PRICE INCREASES CAN YOU EXPECT?
“The one thing that we know for sure is that if the tariffs do go into place, prices are gonna go up on new cars, on used cars, on car repairs,” said Keith Barry, Consumer Reports, Senior Auto Editor.
The 25% tariff on imported cars and parts is set to go into effect this week, and when it happens, automakers, dealerships, and repair businesses will begin the process of figuring out what that means for their costs and yours. Experts agree, you won’t be able to get around it.
“If there were a car that that were magically 100% made in the United States with all parts from the US, an automaker isn’t gonna leave the price low on that car and raise up the price on every other car. They’re gonna spread it out across their whole. Line up. So, it’s, it’s tough. You really can’t strategically make a purchase based on tariffs,” said Barry.
CARS ON LOTS NOW AREN’T DIRECTLY IMPACTED BY TARIFFS AND YET….
Joe McCabe, CEO of Auto Forecast Solutions, agrees, even if a dealer isn’t impacted directly, prices will rise…