U.S. vehicle prices are projected to rise sharply in 2025 as Trump’s 25% auto tariffs take effect, according to CNBC. Cox Automotive estimates cost hikes of $6,000 for imported vehicles and over $3,000 for U.S.-assembled cars due to parts tariffs. Wholesale used car prices are expected to rise by almost 3% by year-end, up from a prior estimate of nearly 1% Cox’s Jonathan Smoke expects declining sales, price volatility, and model eliminations as the industry adjusts.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02U.S. vehicle prices are projected to rise sharply in 2025 as Trump's 25% auto tariffs take effect.
00:08That according to CNBC.
00:10Cox Automotive estimates cost hikes of $6,000 for imported vehicles and over $3,000 for U.S. assembled cars due to parts tariffs.
00:18Wholesale used car prices are now expected to rise by almost 3% year-end, up from a prior estimate of nearly 1%.
00:24Cox's Jonathan Smokes expects declining sales, price volatility, and model eliminations as the industry adjusts.
00:31For all things money, visit Benzinga.com slash GSTV.