The impact of tariffs would vary according to the car model, since some would depend more on the imported parts than others. But instead of greatly increasing the price of specific vehicles, the industry is likely to spread the increases in all types, “such as peanut butter”, to soften price increases, said Tyson Jominy, vice president of data and analysis of the JD Power market research firm. Mr. Anderson said that manufacturers “would almost surely reduce” models that became significantly more expensive.
What happens if I want to buy a car this year?
Much remains uncertain, including whether delayed tariffs will really really go into force and, if so, how long they would remain in place. “We literally have no idea,” said Joseph Yoon, Consumer Insights analyst at the automotive site edmunds.com. So, if a new car was not on his radar, there is no need to hurry to buy one, he said. A car is a expensive purchase. It is important, he said, take the time to investigate models and obtain one that adapts to your needs and budget. “Do not check a self -valued at $ 47,000.”
Even so, if I planned to buy a new car in the coming months anyway, and the model with its favorite features is now available, it may make sense to buy sooner rather than later. Jennifer Newman, editor in chief of the Cars.com online car shopping site, said that new car inventories abounded and that tariffs should not affect vehicles that were already sitting in lots of sales. “If you are thinking of buying a car, you must buy now,” he said.
And if you are interested in an electric vehicle or a plug -in hybrid, now it could also be a good time to consider one because you can qualify for a federal tax credit of up to $ 7,500 if you buy or regret a new one. (The Trump administration has said that it aims to reduce or repeal credit, although Trump also went to television last week to announce that he is buying a Tesla). But make sure that an EV really “adapts to you,” said Jake Fisher, senior director of the Consumer Reports car testing center. Despite factors like how far you normally drive, he said, and if you will have access to a charger at home or at work.
Are used cars a better option?
The used cars are also expected to become more expensive. Distributors are likely to anticipate possible interruptions in the new car pipe, intensify the purchases of the uses used to supply their lots, Jominy said, and that will help increase the prices of used cars.
