Where Data Tells the Story
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Half of the 16 million new cars sold in America in 2024 were imported.
A 25% tariff on an imported new car that costs $40,000 will result in a tax of $10,000.
If automakers choose to pass on those prices to the customer, the same car now costs $50,000.
In this scenario, customers may start flooding the used car market, which will drive up prices there as well.
A tariff on imported auto parts is also expected in May, which may drive up car prices further.