Sales Growth in March
Major automakers reported significant sales increases in March, with nearly 1.6 million vehicles sold in the , marking a 13.6% rise. This boost was driven by strong demand for electric vehicles (EVs) and key models like pickups and SUVs.
, Ford, , , , Hyundai, and all reported double-digit sales gains, with electric vehicle sales seeing notable spikes across the board.
Impact of Tariffs and Future Outlook
's announcement of a 25% tariffs on auto imports, effective April 3, raises concerns about potential increases in vehicle prices and a downturn in sales. The tariffs aim to boost U.S. manufacturing but could lead to higher costs for automakers.
Analysts and industry experts express uncertainty about the future sales trajectory, citing the tariffs' potential to dampen demand. Some pre-buying ahead of the tariffs was expected, though affordability and high interest rates may limit this effect.