Reported 3 days ago
The upcoming auto tariffs set to take effect on April 3, 2025, are expected to drive up vehicle prices and reduce access to affordable options in the used car market. Jessica Caldwell from Edmunds highlights that manufacturers will likely pass some costs onto consumers, leading to increased prices across the board, further pushing potential buyers toward the used car market, which itself is experiencing inventory shortages. Consequently, consumers may either hesitate to purchase vehicles altogether or opt to repair their existing cars.
Source: YAHOO