US Car Prices May Rise by $3,000: Automakers Face Tariff Uncertainty
2025-02-03
Bloomberg on MSN.com
The automotive industry is bracing for a potential shutdown due to looming tariffs, which could lead to a significant price hike of up to $3,000 for new cars. The president of Canada's Automotive Parts Manufacturers' Association warned that the sector may come to a grinding halt within a week, citing concerns over trade policies and their impact on car prices and auto manufacturing. With the threat of tariffs looming, car buyers may face increased costs, affecting the overall automotive market and car sales. Key industry players are closely monitoring the situation, as tariffs could lead to higher production costs and reduced demand for new vehicles.
