New Car Sales Surge 17.2% in March as Tariffs Drive Demand
American consumers are snapping up new cars at a rapid pace, with sales surging 17.2% in March. This rush is driven by concerns over rising prices and dwindling supply, triggered by a 25% tariff on imported vehicles. Meanwhile, the used car market is also thriving, with sales up 12.2% year-on-year.
In Phoenix, Arizona, the dealer of Steve Marteganis, who recently purchased a Mazda MX-5 Miata, has witnessed a significant increase in customer visits. This trend is echoed nationwide, as manufacturers like Audi and Jaguar Land Rover have temporarily halted deliveries to the US due to the tariff.
To counteract the impact of the tariff, some manufacturers are offering employee pricing to all customers. Ford and Stellantis, for instance, have implemented this strategy to make vehicles more affordable. However, buyers are advised to remain flexible and not hold out for their ideal car, as prices are expected to continue rising.
The US automotive industry is grappling with the effects of the 25% tariff on imported vehicles, leading to a boom in new and used car sales. While manufacturers and consumers navigate these challenges, buyers are urged to stay adaptable in their purchasing decisions.
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