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News in English (USA) / 19.04.2025 / 05:00

Auto Industry Faces Turbulence Amid Rising Tariffs

The automotive sector is bracing for significant changes as tariffs on auto imports soar to 25%, prompting a rush among consumers to purchase vehicles before prices spike further. Dealers are witnessing a surge in sales, yet experts warn that these tariffs could lead to drastic price increases and substantial impacts on vehicle supplies. The landscape is fraught with uncertainty, as many potential buyers weigh the rising costs against their immediate needs. Additionally, analysts predict that the tariff situation may trigger elevated insurance premiums, putting further financial pressure on consumers. As panic-buying ensues, both new and used car inventories are dwindling, creating challenges for both dealerships and buyers alike. The overall sentiment in the market is one of caution, with various players in the industry reacting to an evolving and volatile economic climate.
NPR, Yahoo Finance, Automotive News, The Verge, Kiplinger, Financial Times, Scripps News, CNBC, Detroit Free Press, DW