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Auto Tariffs Update: Some Relief, More Complexity for Automakers
The Latest Car Tariff Information
Fact Sheet: President Donald J. Trump Incentivizes Domestic Automobile Production
ADJUSTING IMPORTS OF AUTOMOBILES AND AUTOMOBILE PARTS INTO THE UNITED STATES
AMENDMENTS TO ADJUSTING IMPORTS OF AUTOMOBILES AND AUTOMOBILE PARTS INTO THE UNITED STATES
FAQs & COMMON CONCERNS
Are prices going to go up?
Economic shifts influence the price of goods and services. It’s the law of supply and demand. Some manufacturers have opted to absorb part or most of the cost of the tariffs. In the short-term there may be more fluctuations. However, the long-term outlook may be more promising as the dust settles and tariff policy is defined.
Are cars going to become unaffordable?
It will take a lot for a car to become unaffordable. As you know, cars come in all shapes and sizes with multiple configurations. Essentially, there is car for every budget, every person, and every family. As tariff policy is defined, the factories will have a better idea of how to serve their customer in this new world. Also, as the market ebbs and flows, new technologies emerge, and product configurations evolve legacy providers and new entrants will innovate to give customers what they want, what they need, and what we didn’t know we were dreaming of.
We understand that a car is not a luxury, but a necessity. Over 100 years ago, in 1913, Henry Ford’s assembly line and the expansion of roads and highways made car ownership possible for and accessible to the masses. Innovation and reinvention have been the heartbeat of the industry that continues today. The twenty-first century presents us with great opportunities that carry some growing pains.
Is my trade worth more now?
The value of your trade can be influenced by shifts in economic policy. Your dealer can help you find the most for your trade.
The dealer can take your vehicle as a trade-in for a new vehicle or they may buy it out right. If they buy it from you, there is no need to purchase a vehicle from them. You can purchase from them, but your dealer is happy to buy your used vehicle, at a fair price, and find it a new home. They are good at matching vehicles with good owners.
Should I avoid the dealership?
Remember that the dealer is your friend. Dealers live and work in our communities. They employ our neighbors, family, and friends. They support our little leagues and community organizations. They have a vested interest in serving us and serving our communities.
Dealers know how to find incentives, tax credits on new vehicles and trade-ins, and can help you find a vehicle that makes sense. They can help you find the perfect vehicle and get the most for your trade-in.
Dealers can also help extend the life of your current vehicle, if that makes the most sense for you.
Did we say that they are part of our communities? They have a vested interest in our success.
How Much Car Can I Afford? Edmunds Car Affordability Calculator
KBB Car Affordability Calculator
How Tariffs Will Impact U.S. Car Prices, by Brand – While the are guesses about policy that has not been defined, remember that your local dealer can help you navigate the options, pricing, and find a solution that works for you.
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