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Car prices jump to the highest level since 2023 because auto tariffs squeeze consumers


Car buyers used are colliding with high prices for used cars because the auto market adjusts the President Donald Trump’s 25% tariff on auto imports.

Car prices used The April was remarkably higher than in March, as the vehicle index used manhem increased by 208.2 – a growth of 2.7% from March and 4.9% higher than the previous year. Since October 2023, it is the highest reading for the index.

Jeremy Rob, senior director of the Economic and Industry Insight at the Cox Automotive, said, “We were expected to see a strong value in response to Tariff, and this is exactly the same.” “Weekly trends showed high values ​​because we had gone through the month, but they grow from each gradual week.”

“The retail sales used are stronger than normal, and the wholesale supply is a bit tight, so we will possibly see less than normal depreciation than Q2. As we move forward in the second half of the year, however, the auto market may slow down as some transactions can be carried forward in March and April as the buyers tried to get ahead of the high prices due to tariffs,” said Rob said.

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The car prices used in April jumped in April due to the tariff, found in the report. (Through Jim Watson / AFP Getty Image / Getty Image)

Retail sales of vehicles used in April were 1.7% below March, but 13% higher than a year ago. In the last four weeks, Average retail list A 2%increased for a used vehicle, found in the report.

The sales of new vehicles were 11.1% higher in April than a year ago in April, as later the concerns for high prices in the year increased sales, although the volume declined 8% from another stronger March.

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Tariffs can increase prices for cars by disrupting the supply of new cars and increasing the cost of those vehicles. (Fox Business / Fox News)

Earlier this year, Trump announced 25% tariff on imported vehicles This was due to effective on 2 April, while other 25% tariffs on imported auto parts were determined to be effective on May 3.

On 29 April, the President signed an executive order, which amended the auto tariff by offering an offer of the tariff for auto parts used in US-digested vehicles, which was 3.75% of the manufacturer’s suggested retail price (MSRP) and 2.5% of the US production for next year.

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The White House stated that the step “modifies tariff action on automobile and automobile parts by encouraging manufacturers to collect its automobiles in the US, reducing American dependence on foreign imports of automobile and automobile parts.”

Fox Business’ Icelin Murphy contributed to this report.



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